Credit: Maren Winter/Adobe Stock
The executive committee of the National Association of Insurance Commissioners may update its open meetings policy statement.
The committee plans to hold a hearing on ideas for changes next Tuesday, during a session at the NAIC's upcoming spring national meeting in San Diego.
"The committee is particularly interested in hearing from entities and individuals impacted by NAIC committee activities," the executive committee says in a hearing announcement on its section of the NAIC's website. "Your perspectives on the policy statement and its current implementation would be extremely valuable as the committee considers potential changes."
What it means: Advisors who want to know what the NAIC is doing about annuity sales rules, annuity issuer investment holdings, indexed universal life insurance product performance illustrations and other hot topics could soon have more, or less, ability to follow NAIC proceedings.
The National Association of Insurance Commissioners: The United States leaves most regulation of the business of insurance to the states.
The NAIC is a Kansas City, Missouri-based group that helps state insurance regulators share ideas and resources. It does not directly set state insurance rules, but states often start with NAIC models when developing their own insurance laws and regulations, and some states arrange to adopt certain types of NAIC accounting rule updates and other updates automatically.
The NAIC has a different history and rules than organizations like the U.S. Securities and Exchange Commission. The SEC, for example, makes securities filings available for free through an online system.
The NAIC charges for access to many types of documents. Some insurance companies have questioned whether even documents such as the annual statements they file with state regulators should be available online to members of the public.
The SEC streams video of its meetings on the web for free.
The NAIC once charged for access to the audio for teleconference meetings. It now offers free access to the meeting live streams but makes the recordings available only to paid attendees and reporters.
Peter Gould: Peter Gould, an annuity owner who is interested in the NAIC, has been campaigning since early 2025 for the NAIC to make recordings of the teleconference sessions available to members of the public for free.
He said in an email in February that he was not sure whether the NAIC had noticed or considered a transparency proposal he submitted.
He has asked other consumer advocates to support his transparency effort. Only one, Chris Tobe, the head of the Commonsense 401(k) Project, has given him public support.
"The bottom line is that all stakeholders should have easy, no-cost access to livestreams and recordings of all NAIC public sessions, whether you're a policy owner, journalist, researcher, academic, legislator, insurance professional, investor, etc.," Gould said.
Credit: Maren Winter/Adobe Stock
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.