NAIC Report: 2012 Summer National Meeting

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Insurance regulators and industry representatives descended upon Atlanta, the hometown of Gone with the Wind author Margaret Mitchell, for the NAIC’s 2012 Summer National Meeting from August 11 to August 14, where most everyone gave a damn about significant emerging issues in state regulation.

Hallway chatter was dominated by the announcement that Terri Vaughan will step down as NAIC Chief Executive Officer next year. Dr. Vaughan has been a forceful presence in helping U.S. regulators articulate justifications for our state-based system of regulation and in shaping the message that the U.S. system does not have to employ methods equivalent to European or international methods in order to achieve positive outcomes. Her efforts have raised the profile of U.S. insurance regulation in Washington, D.C. and Basel. With the announcement of her departure, there was much speculation about who will replace her.

Our report is separated into topics of general interest, followed by topics of particular interest to life insurers and property and casualty insurers, respectively.

Please see full report below for more information.

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Published In: Administrative Agency Updates, General Business Updates, Finance & Banking Updates, Insurance Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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