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January 18, 2017 at 10:52 AM
Members of the National Association of Insurance Commissioners have picked Bruce Ramge to be the 2017 chair of its Life Insurance and Annuities Committee.
Ramge, the director of the Nebraska Department of Insurance, will lead committee efforts to wrestle with the ongoing shift to a principles-based reserving system. A principles-based system relies more on statistical analysis and actuarial judgment, and less on static formulas.
Related: Insurance regulators respond to ongoing low interest rates
Ramge will also oversee committee work on an update of the NAIC’s Life Insurance Buyer’s Guide.
Ramge has been working in insurance regulation in Nebraska since 1984. He has been his state’s head insurance regulator since 2010. At the NAIC, he has been especially visible in work on the unclaimed property issue.
Dean Cameron, the director of the Idaho Department of Insurance, is the life committee’s vice chair.
The NAIC is a Kansas City, Missouri-based group for state insurance regulators.
In addition to naming the leaders of the life committee, the NAIC has also named the leaders of other committees that deal with life, annuity and health issues.
