NAIC

NAIC CEO Shares Insights on Insurance Regulation

Apr 28, 2022 / by AAIS posted in openIDL, Insights, Issues & Trends, Data & Technology, COVID-19, Homeowners, Climate Change, Cannabis, Auto, AAIS News & Views, AAIS Pulse, Data/Tech, NAIC, Regulation, pandemic, Regulators, Business Interruption, Economy, Cannabis Insurance, cyber insurnace

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On a recent edition of AAIS Pulse, NAIC CEO Mike Consedine sat down with AAIS President and CEO Ed Kelly to share his insights on major regulatory issues facing the insurance industry and the NAIC.

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Busy NAIC Fall Meeting Brings Forth Key Themes for 2022

Dec 22, 2021 / by AAIS posted in openIDL, Community, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Insurance News/Current Events, Industry Associations, Regulatory/Compliance, Cannabis, Auto, Legislation & Regulation, NAIC, DEI

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The National Association of Insurance Commissioners (NAIC) recently wrapped up its fall meeting in San Diego, Ca., where it celebrated its 150th Anniversary. It was a hybrid event with an estimated 1,200 people attending in person and another 1,800 virtually. AAIS Views caught up with our Manager Government Affairs and Compliance, Lori Dreaver Munn and AAIS VP of Memberships & Solutions Truman Esmond, who both attended in person to hear about some of the key themes and takeaways from the meeting.

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Maryland Insurance Commissioner Talks Talent, E-Commerce, Insurtech & More

Oct 18, 2021 / by AAIS posted in Machine Learning/AI, Issues & Trends, Data & Technology, AAIS Events, Events, Tech News, Insurtech, Regulatory/Compliance, New/Emerging Risks, Working in Insurance, Legislation & Regulation, AAIS Insights, AAIS Pulse, AAIS Event Archives, Data/Tech, NAIC, talent

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The AAIS Pulse newsmagazine recently featured a discussion between Maryland Insurance Commissioner Kathleen Birrane and AAIS VP of Government, Legal and Compliance Robin Westcott. They covered a range of topics, from careers in insurance and climate change to National Association of Insurance Commissioner Working Groups, technology, insurtechs and much more.

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Report Highlights: openIDL Passes COVID-19 BI Data Call Test

Aug 24, 2021 / by Robin Westcott posted in openIDL, Data & Technology, Data Management/Distributed Ledger, COVID-19, Regulatory/Compliance, Blockchain, NAIC, Data Call, Business Interruption, AAIS Views

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On Aug. 16, at the 2021 Summer National Association of Insurance Commissioners (NAIC) National Meeting, AAIS VP of Government Affairs, Legal & Compliance, Robin Westcott, presented the results of a Proof of Concept (POC) testing whether openIDL could support a COVID-19 Business Interruption Data call issued by the NAIC.

The meeting served as the kickoff for the openIDL Regulatory Reporting Steering Committee (RRSC). Ms. Westcott provided highlights from the positive findings set out in the report published by AAIS declaring that blockchain/distributed ledger technology had passed the test enroute to even broader applications across the industry.

Following is a summary of Ms. Westcott’s presentation:

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Modernizing Statistical Reporting: What It Means for Our Industry

May 27, 2021 / by Dina Burgess posted in openIDL, Technology, Data & Technology, NAIC, IBM, Linux Foundation, Hyperledger, AAIS Views, Statistical Reporting, Modern Advisory Services

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Regulatory-driven statistical reporting was first established for the insurance industry by the NAIC Property & Casualty Model Rating Law some 70 years ago. And the practices and procedures that underpin insurer statistical reporting have changed little in the decades since. Now, however, statistical reporting is being modernized with the development of the open Insurance Data Link (openIDL). Dina Burgess, Manager of Enterprise Risk Applications at AAIS, talks about the need for this change and the new ease, efficiency and accuracy that characterizes modern regulatory reporting.

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NAIC Perspectives on Diversity, Equity and Inclusion

Apr 19, 2021 / by AAIS posted in Insurance, Regulatory/Compliance, Working in Insurance, Industry, AAIS Pulse, NAIC, Regulators, AAIS Views, DEI

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The April 13 episode of AAIS Pulse featured a frank discussion on diversity, equity and inclusion in corporate American, the insurance industry, and society at large, as seen through the lens of leaders in insurance regulation.

AAIS’s El Cid Balitaan was joined by Chlora Lindley-Myers, Director of the Missouri Department of Commerce and VP of the Insurance and National Association Of Insurance Commissioners (NAIC), and Commissioner Andrew Mais of the Connecticut Insurance Department, who is Secretary Treasurer of the NAIC.

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AI and Modern Compliance

Jan 9, 2021 / by AAIS posted in Community, Technology, Machine Learning/AI, Issues & Trends, Data & Technology, Insurtech, Regulatory/Compliance, Insurance Operations, Innovation, AAIS Insights, AAIS Pulse, Executive, NAIC, Regulation, Compliance, Locke Lorde, AI, AAIS Views

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In August of 2020, the NAIC adopted five guiding principles for artificial intelligence (AI), based on the Organization for Economic Cooperation and Development’s AI Principles which have been adopted by 42 countries across the globe. These five principles include: Fair and Ethical Accountability, Compliance, transparency, security, safety, and robustness of outputs.

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Leading the Way: The Insurance Community’s Response to a Global Pandemic

Jun 20, 2020 / by AAIS posted in Community, Issues & Trends, Insurance News/Current Events, COVID-19, P&C Insurers, Industry, Leadership, Executive, 2020 VME, NAIC, Greenberg Traurig, Business Interruption, AM Best, AAIS Views, Dowling and Partners

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This year, the COVID-19 pandemic changed the world. Storefronts and restaurants were shuttered; jobs were lost; many became ill, and most companies had to quickly adjust to a new, remote working environment. The effects of the pandemic are pervasive, and will have a lasting impact on families, communities, businesses, and the country for years to come.

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NAIC CEO discusses Regulator Pandemic Response

Jun 16, 2020 / by AAIS posted in Community, Issues & Trends, Events, Insurance News/Current Events, AAIS Event Archive, Industry Associations, COVID-19, Regulatory/Compliance, Legislation & Regulation, 2020 VME, NAIC, pandemic, AAIS Views, NatCats

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The COVID-19 pandemic proved what National Association of Insurance Commissioners CEO Mike Consedine already knew – the regulatory community is swift, nimble, and creative when dealing with an unprecedented emergency.

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AAIS Learning-Pandemic Coverage in the Age of COVID-19
AAIS Pulse Chicago - AAIS Pulse is Back...and coming to Chicago!

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