Latest Naic Headlines

All the headlines from our Naic Topic Page, ordered by recency.

PCIA Tells NAIC: SOX Compliance Could Cost Non-Public Insurers $1 B Annually

Feb 9 2005 // A spokesman for the Property Casualty Insurers Association of America told a National Association of Insurance Commissioners panel today in Orlando that a proposal to apply new requirements based on the Sarbanes-Oxley law...

Insurers Oppose Sarbanes-Oxley ‘404’ Proposal

Feb 8 2005 // A National Association of Insurance Commissioners panel this week will begin to discuss whether costly new audit measures based on the federal Sarbanes-Oxley (SOX) law should be imposed on non-public insurers despite...

NAIC Launches Online Insurance Fraud Reporting

Jan 28 2005 // The National Association of Insurance Commissioners (NAIC) is now featuring an online insurance fraud reporting system on the association’s Web site, http://www.naic.org/.The online fraud reporting system –...

People & Places

Jan 24 2005 // Redwood City, Calif.-based ABD Insurance and Financial Services hired Tony Casabat as senior vice president/sales executive for the company’s Employee Benefits practice. Casabat, a longtime lead sales and client...

Insurers Regulator’s Broker Dealer Model Laudable But Still Too Broad

Jan 20 2005 // National Association of Insurance Commissioners efforts to address concerns surrounding broker compensation continue to be over-broad, going beyond the single problem that has been defined, according to comments filed...

PCI Has “Significant Doubts” Concerning NAIC’s Agent Disclosure Proposals

Jan 20 2005 // The Property Casualty Insurers Association of America has issued a bulletin indicating that it has some “significant doubts” concerning the NAIC’s proposed inclusion of disclosure duties on agents.The PCI...

PIA National Will Oppose Broker Compensation Disclosure Model As Passed

Jan 6 2005 // The National Association of Professional Insurance Agents reiterated its opposition to the version of a compensation disclosure model law that was passed by a vote of 30-15 (with three abstentions) on Dec. 29, 2004, by the...

People & Places

Jan 3 2005 // The Independent Insurance Agents & Brokers of New York Inc. recently announced the addition of three new staff members. Kathleen A. Lawler is IIABNY’s new director of education, Bruce H. Barry fills the newly...

Agents, Insurers Seek Targeted Compensation Disclosure Rules

Jan 3 2005 // The model compensation disclosure measure under consideration by the nation’s state regulators has been met with generally guarded support from agents, brokers and insurers.The Indep-endent Insurance Agents &...

Agents, Insurers Seek Targeted Compensation Disclosure Rules

Jan 3 2005 // The model compensation disclosure measure under consideration by the nation’s state regulators has been met with generally guarded support from agents, brokers and insurers.The Independent Insurance Agents &...

Big ‘I’ Recognizes NAIC Efforts, Seeks Further Clarity

Dec 30 2004 // The Independent Insurance Agents & Brokers of America (the Big “I”) on Wednesday credited the National Association of Insurance Commissioners’ (NAIC) for its hard work on a compensation disclosure...

PCI Reacts Cautiously to NAIC’s Partial Producer Licensing Act Adoption

Dec 30 2004 // The Property Casualty Insurers Association of America has released a statement, indicating that the action of regulators to delay consideration of one critical section of the proposed amendment to its Producer Licensing...

Insurers Claim Regulators’ Open Meetings Policy Ignored

Dec 22 2004 // “Any NAIC deliberation or decision that has legal or persuasive effect on insurance law and regulation is the public’s business and must be conducted in a public setting,” stated a National Association of...

Agents, Insurers Seek Targeted Compensation Disclosure Rules

Dec 20 2004 // The model compensation disclosure measure under consideration by the nation’s state regulators has been met with generally guarded support from agents, brokers and insurers.The Independent Insurance Agents &...

Andrew Welsh-HugginsAgents, Insurers Seek Targeted Compensation Disclosure Rules

Dec 20 2004 // The model compensation disclosure measure under consideration by the nation’s state regulators has been met with generally guarded support from agents, brokers and insurers.The Independent Insurance Agents &...

Survey Points to Public Blind Eye to Fake Insurance

Dec 14 2004 // According to the General Accounting Office, the number of fake insurance policies sold to consumers is on the rise, resulting in $252 million in unpaid health insurance claims alone.According to a survey conducted by the...

NAIC Award Honors Fla. Regulator

Dec 13 2004 // Rich Robleto, director of Life and Health Product Review at the Florida Office of Insurance Regulation has received the Robert Dineen Award from the National Association of Insurance Commissioners (NAIC). The award was...

NAMIC: Scope of Change to NAIC Producer Licensing Model Should be Well Defined

Dec 13 2004 // Any solution proposed by the NAIC in response to the broker compensation issue should be targeted to a well defined problem, according to testimony submitted by the National Association of Mutual Insurance Companies...

Big ‘I’ Backs NAIC Compensation Disclosure Amendment

Dec 9 2004 // The Independent Insurance Agents & Brokers of America announced that it supports the stated goals and objectives of the National Association of Insurance Commissioners’ (NAIC) compensation disclosure amendment,...

PCI Calls for More Specific Regulatory Modernization Agenda at NAIC Meeting

Dec 8 2004 // District of Columbia Insurance Commissioner Larry Mirel responded to a request from the Property Casualty Insurers Association of America (PCI) for regulators to develop a more specific action plan for regulatory...