In this bonus coverage from the AAIS Pulse session Commissioner’s Corner: Catching Up with National & State Insurance Regulators, host Lori Dreaver Munn, Director of Compliance and Government Relations at AAIS spoke with Andrew Mais, Commissioner of the Connecticut Insurance Department (DOI) and NAIC President-Elect about initiatives for the Connecticut DOI in 2023.
According to Mais, there are a number of initiatives planned in Connecticut for this year, but one of the main focuses is on the coverage gap. “One obvious issue [impacting the coverage gap] is climate change,” he reported. "Connecticut has the second highest percentage of its insured property along the coast and thus is fallible to climate change, second only to Florida. That means we have to be concerned about the impact of climate change, especially on those least able to afford it.” To help educate the public on this timely issue, the Connecticut DOI recently created a signature conference on climate change and insurance which will be launching later this year. “We will bring together thought leaders from around the world to discuss climate change, the impact on insurance, and the impact on consumers,” Mais announced. “This will be a way to bring even more prominence to the subject and to try to figure out ways to close the coverage gap that now exists.”
The Connecticut DOI has also started the Next-Gen Career Academy to help close the coverage gap. Mais fell into a career in the insurance industry by accident and wants to provide opportunities to members of underserved communities. “It's a way to tell young people in high school [and] college that insurance is an incredible industry [that] offers you a possibility of a wonderful career,” said Mais. “Not only will you have the resources to do pretty much whatever it is you want to do, but you get to go to sleep at night knowing that you're doing something good for the world.”
To view the full bonus coverage with Andrew Mais, click on the video above. For his entire AAIS Pulse session, click here.