State insurance regulators are ramping up efforts to tackle the problems in the long-term care insurance market and related markets.
The National Association of Insurance Commissioners has set up a Joint Long Term Care Insurance Task Force.
The NAIC’s Health Insurance Committee will run the committee together with the NAIC’s Financial Condition Committee.
— (Related on ThinkAdvisor: State Regulators Meet as Individual Health Gasps for Life)
Members of the NAIC’s executive committee and its plenary approved the decision to set up the task force Tuesday, in Denver, at a session at the NAIC’s spring meeting. The NAIC has posted information about the task force in a meeting document packet.
State governments oversee most regulation of insurance in the United States. The NAIC is a Kansas City, Missouri-based group for state insurance regulators. The plenary is a body that includes all voting members of the NAIC.