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Preview: 2021 NAIC Fall National Meeting - Insurance

The National Association of Insurance Commissioners (the "NAIC") will hold its 2021 Fall National Meeting (the "Fall National Meeting") from December 11-16, 2021. ....

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NAIC Report - 2021 Summer National Meeting | Eversheds Sutherland (US) LLP

NAIC Report - 2021 Summer National Meeting | Eversheds Sutherland (US) LLP
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Maine One of Latest States to Enact NAIC-Inspired Insurance Data Security Act

Maine One of Latest States to Enact NAIC-Inspired Insurance Data Security Act
Maine is one of the latest states to enact its own version of the National Association of Insurance Commissioners (NAIC) model data security law, signing the Maine Insurance Data Security Act into law on March 17.
The NAIC Insurance Data Security Model Law was formally adopted in 2017 and aims to establish data security standards for regulators and insurers to mitigate damage from a data breach. It has since been adopted by several U.S. states, with Maine and North Dakota being two of the latest.
“The NAIC model development has received wide attention in the industry from interested parties, including trade groups representing insurers and producers,” Maine Bureau of Insurance Superintendent Eric Cioppa told Insurance Journal in emailed comments. “…Maine has actively participated in the development of the NAIC model law, which Maine’s new law is based upon.” ....

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NAIC Report - 2021 Spring National Meeting | Eversheds Sutherland (US) LLP

NAIC Report - 2021 Spring National Meeting | Eversheds Sutherland (US) LLP
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NAIC Groups Adopt 2021 Charges | Carlton Fields

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As the year of COVID-19 closes, NAIC groups are adopting their charges for 2021. Especially notable are the following:
Life Actuarial Task Force (LATF)
LATF’s Indexed Universal Life Illustration Subgroup will:
monitor the results and practices of IUL illustrations following implementation of Actuarial Guideline 49-A; and
review the current regulatory framework and recommend changes to Life Insurance Illustrations Model Regulation (#582) to LATF, as needed.
Producer Licensing (D) Task Force
This group will finalize its white paper on the role of chatbots and artificial intelligence (AI) in the distribution of insurance and the regulatory supervision of these technologies in time for the NAIC’s 2021 Spring National Meeting. ....

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