NAIC Leadership Issues Model Bulletin Encouraging All States to Extend Upcoming Filing Deadlines

April 16, 2020 The chair and vice chair of the Financial Condition (E) Committee, Virginia Insurance Commissioner Scott White and Maine Superintendent of Insurance Eric Cioppa issued a memorandum to all NAIC members requesting all state insurance commissioners... Read more

Alabama: Regulation Hearing Noticed

March 27, 2020 The Alabama Insurance Department has issued notice of a regulation hearing scheduled for May 6 at 10 a.m. There are two regulations on the agenda. An amendment to Insurance Regulation No. 125, Standards for Prompt, Fair and Equitable Settlements, will... Read more

Kentucky: CGAD Rules Adopted

October 24, 2019 The Kentucky Department of Insurance has adopted rules governing the content and filing of the Corporate Governance Annual Disclosure with the KDOI. The regulations are based upon the NAIC’s model CGAD regulations. Read more

Financial & Regulatory Brief: In the States

August 29, 2019 In 2019, 18 states have adopted the NAIC Corporate Governance Annual Disclosure Model Act, bringing the total to 44 states that have adopted this model. Since NAMIC’s last report, Alaska, Missouri, and North Carolina adopted legislation that requires... Read more

North Carolina: Internal Audit, CGAD, Groupwide Supervisor NAIC Models Enacted

June 28, 2019 Enacted HB 219 substantially adopts the NAIC model laws regarding internal audit functions, the filing of a corporate governance annual disclosure by North Carolina domestic insurers... Read more

Texas: CGAD Requirement Enacted, Texas-Only Insurers Exempt

June 19, 2019 Enacted HB 3306 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model... Read more

Hawaii: CGAD Requirement Enacted

June 19, 2019 Enacted SB 1210 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. The bill also includes adoption of the group-wide supervisory... Read more

Colorado: CGAD Requirement Enacted

June 4, 2019 Enacted HB 1291 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. The bill also includes adoption of the group-wide supervisory language in the NAIC’s model holding company act. Read more

South Carolina: CGAD, Internal Audit Model Rules Adopted

May 29, 2019 The South Carolina Department of Insurance has adopted the provisions of two NAIC model rules: the first relating to the Corporate Governance Annual Disclosure and the second relating to an insurer’s internal audit function. Read more

Minnesota: Three NAIC Models Enacted

May 23, 2019 Enacted SF 2313 adopts the provisions of three NAIC model laws: Corporate Governance Annual Disclosure, internal audit, and group-wide... Read more

Minnesota: Three NAIC Models Enacted

May 21, 2019 Enacted SF 2313 adopts the provisions of three NAIC model laws: Corporate Governance Annual Disclosure, internal audit, and group-wide... Read more

Georgia: CGAD Filing Requirement Enacted

May 16, 2019 Enacted HB 367 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. Read more

Oklahoma: CGAD Filing Requirement Enacted

May 15, 2019 Enacted HB 2191 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. Read more

Pennsylvania: PID Introduces CGAD Template

May 10, 2019 The Pennsylvania Insurance Department has introduced a template for domestic Pennsylvania insurers to use when drafting their Corporate Governance Annual Disclosure. Read more

Alabama: CGAD Filing Requirement Enacted

May 10, 2019 Enacted SB 52 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. The bill also includes the adoption of the NAIC’s model group-wide supervisory language. Read more

Alabama: Governor Signs CGAD, Cybersecurity, and Roofing Contractor Bills

May 7, 2019 Gov. Kay Ivey on May 1 signed the NAIC Corporate Governance Annual Disclosure Model Act, SB 52; the NAIC Cybersecurity... Read more

North Dakota: CGAD Filing Requirement Enacted

April 11, 2019 Enacted SB 2076 substantially adopts the provisions of the NAIC's Corporate Governance Annual Disclosure model law, which requires the annual filing of a corporate governance annual disclosure with the state's insurance regulator... Read more

Alabama: 'Hands-Free' Bill Ready for House Floor; DOI Bills Making Progress

April 9, 2019 Alabama House members are ready to take up legislation on the floor that would make it illegal to hold a cell phone while operating a vehicle. HB 6, named "Cici's Law" in memory of teenager Camryn "Cici" Callaway who was killed in a February 2018... Read more

Wyoming: DOI Adopts NAIC CGAD Regulation

April 4, 2019 The Wyoming Department of Insurance has adopted the NAIC's model Corporate Governance Annual Disclosure regulation. Read more

Utah: NAIC’s CGAD Requirement, Group-Wide Supervisory Language Enacted

April 2, 2019 Enacted HB 55 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. The bill also includes significant adoption of the NAIC’s model group-wide supervisory language. Read more

West Virginia: Internal Audit, CGAD Models Enacted

March 28, 2019 Enacted HB 2479 substantially adopts the NAIC model laws regarding internal audit functions and the filing of a corporate governance annual disclosure by West Virginia domestic insurers and insurance groups. Read more

Kentucky: CGAD Requirement Enacted

March 28, 2019 Enacted HB 220 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. The bill also includes the adoption of the NAIC’s model group-wide supervisory language. Read more

Alabama: Session Resumes After Hitting ‘Pause’ for Governor’s Gas Tax

March 26, 2019 Alabama’s 2019 legislative session hit “pause” as soon as it began on March 5, with the governor calling for a special session to address a gas tax proposal during her State of the State address. Despite the scheduling change, the Alabama... Read more

South Carolina: CGAD, Group-Wide Supervisor NAIC Models Enacted

March 21, 2019 Enacted SB 75 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. The bill also includes the adoption of the NAIC’s model group-wide supervisory language. Read more

Arkansas: Omnibus Bill Enacts CGAD, Amends Other Insurance Laws

March 21, 2019 Included within the insurance omnibus bill, Arkansas has enacted the NAIC’s model Corporate Governance Annual Disclosure Act. The bill also amends various other provisions of Arkansas’ insurance laws. Read more

Mississippi: NAIC Corporate Governance Annual Disclosure Model Enacted

March 20, 2019 Enacted HB 324 substantially adopts the provisions of the NAIC’s Corporate Governance Annual Disclosure model law. Read more

Georgia: Crossover Deadline Pushes Floor Action Last Week

March 12, 2019 At the Georgia General Assembly, the week of March 4 was filled with floor action to push bills across to the other house by Crossover Day on March 7. Bills that did not clear at least one body before the end of... Read more

Georgia: General Assembly Crossover Day Looms

February 28, 2019 NAMIC was back in Atlanta Feb. 18-20 to visit with new Insurance Commissioner Jim Beck as part of a delegation from the state trade, the Georgia Association of Property Casualty Insurance Companies. In addition, NAMIC participated... Read more

Financial & Regulatory Brief: In the States

February 21, 2019 There are 11 states in 2019 that have introduced legislation that attempts to adopt the NAIC Corporate Governance Annual Disclosure Model Act. In total, 26 states have adopted the NAIC model that... Read more

Mississippi: ‘Wind Pool’ Bill Receives Contentious Hearing in House Insurance Committee

January 29, 2019 The Mississippi House Insurance Committee met Jan. 22 and approved four bills... Read more

South Carolina: DOI Legislative Package Continues to Move

January 29, 2019 The South Carolina Senate Banking and Insurance Committee met Jan. 23 and issued favorable reports for bills that were approved the previous week by a subcommittee: SB 360, the DOI administrative procedures or “housekeeping” bill... Read more

South Carolina: DOI Legislative Agenda Already Moving Senate Committee Process

January 22, 2019 A South Carolina Senate Banking and Insurance subcommittee met Jan. 17 to discuss several bills on the Department of Insurance legislative agenda... Read more

Financial & Regulatory Brief: In the States

January 16, 2019 Michigan became the 26th state to adopt the NAIC Corporate Governance Annual Disclosure Model Act... Read more

Michigan: NAIC Corporate Governance Annual Disclosure Model Enacted

January 3, 2019 Enacted HB 6520 substantially adopts the provisions of the NAIC’s corporate governance annual disclosure model law... Read more

South Carolina: DOI Holds Annual Conference to Announce Legislative Agenda

November 1, 2018 NAMIC participated in the South Carolina Insurance Department's annual legislative conference on Oct. 31 in Columbia. More than 100 industry representatives registered to visit with Insurance Director Ray Farmer and his staff during the event. A link... Read more

Financial & Regulatory Brief: In the States

October 25, 2018 Pennsylvania is the 25th state to adopt the NAIC Corporate Governance Annual Disclosure after their governor signed the bill that passed both legislative chambers in October. One other state... Read more

Pennsylvania: CGAD Model Act, Regulation Enacted

October 25, 2018 Enacted SB 1205 substantially adopts the NAIC’s corporate governance annual disclosure model law and the terms of the NAIC’s model CGAD regulation... Read more

Washington: OIC Adopts NAIC Model CGAD Rules

October 17, 2018 The Washington Office of the Insurance Commissioner has adopted final Corporate Governance Annual Disclosure... Read more

In the States: NAIC Financial Regulation Model Updates

September 20, 2018 There are 24 states that have adopted one or both NAIC models on the Corporate Governance Annual Disclosure. Two states– Massachusetts and Pennsylvania – have introduced bills that would require insurers to document information about their corporate... Read more

Tennessee: DOI Adopts CGAD Rules

August 24, 2018 The Tennessee Department of Commerce and Insurance, Division of Insurance, has adopted the NAIC Corporate Governance Annual Disclosure model regulation... Read more

In the States: NAIC Financial Regulation Model Updates

August 23, 2018 In June, Missouri became the latest state to adopt the NAIC Corporate Governance Annual Disclosure Model Act. There are now 24 states that have adopted one or... Read more

Massachusetts: NAIC Credit for Reinsurance, Group-Wide International Supervision, CGAD Models Enacted

August 16, 2018 Enacted HB 4732/HB 4868 adopts the NAIC’s Credit for Reinsurance, Holding Company (supervisor of internationally active groups provisions), and Corporate Governance Annual Disclosure model acts. Read more

New Hampshire: CGAD Rules Effective July 30

July 31, 2018 The New Hampshire Insurance Department has adopted final rules governing the content and filing of the Corporate Governance Annual Disclosure. The regulations are based upon the NAIC’s model CGAD regulations. Read more

Missouri: Governor Signs CGAD Bill

June 25, 2018 Gov. Mike Parson has signed SB 593, enacting the NAIC's Corporate Governance Annual Disclosure model... Read more

Nevada: Legislative Commission Approves Corporate Governance Annual Disclosure Rules

May 21, 2018 The Nevada Division of Insurance’s adoption of the NAIC’s model Corporate Governance Annual Disclosure regulation has been approved by the relevant legislative commission. Legislative commission approval is required in Nevada before an administrative... Read more

Washington: OIC Posts 2018 Interim Session Proposed Rules Agenda

May 21, 2018 The Office of the Insurance Commissioner has posted its 2018 Interim Session Proposed Rules Agenda. Of particular interest to NAMIC and the property/casualty insurance industry will be the proposed rules... Read more

Tennessee: Governor Signs Bill Enacting NAIC Models on Credit for Reinsurance, Group-wide Supervision, CGAD

May 7, 2018 Gov. Bill Haslam has signed HB 1808, which, among other things, enacts the NAIC model credit for reinsurance law, adopts the amendment to the NAIC model holding company act regarding... Read more

Idaho: Three New Regulations Now Effective

May 3, 2018 Pursuant to recent approval by the Idaho Legislature, three Idaho regulations applicable to property/casualty insurers are now effective: the NAIC model... Read more

Nevada: DOI Adopts Language of NAIC Model CGAD Rule

April 30, 2018 The Nevada Division of Insurance has adopted the NAIC’s model Corporate Governance Annual Disclosure regulation... Read more

Missouri: Corporate Governance Annual Disclosure Bill Passed

April 26, 2018 SB 593, which adopts the NAIC's Corporate Governance Annual Disclosure model law, has passed the Missouri House and Senate. Pursuant to the bill, all "insurers," as defined in Mo. Stat. §375.012(4), will be required to file a CGAD with the Missouri... Read more

Wisconsin: Governor Signs Corporate Governance Annual Disclosure Bill

April 23, 2018 Gov. Scott Walker has signed AB 877, requiring Wisconsin domestic insurers and domestic insurance holding company systems to file a Corporate Governance Annual Disclosure by June 1 of each year. Wisconsin is the 22nd state to adopt this... Read more

Tennessee: NAIC Credit for Reinsurance, Corporate Governance Annual Disclosure Models on the Way to Governor

April 20, 2018 HB 1808, which contains NAIC model act language for Credit for Reinsurance and Corporate Governance Annual Disclosure, passed the Senate on April 19 and is now eligible for the governor's... Read more

Financial & Regulatory Brief: In the States

April 19, 2018 The New Mexico Legislature introduced in January a bill that would have enacted the NAIC Own Risk and Solvency Assessment Model Act, but as it happened last year, it failed to pass. The bill would have... Read more

Washington: Governor Signs Corporate Governance Annual Disclosure Act into Law

March 14, 2018 Gov. Jay Inslee has signed SB 6059 into law, enacting the insurance Corporate Governance Annual Disclosure Act. The bill is closely modeled after the National Association of Insurance Commissioners’ model CGAD act. The act takes effect on ... Read more

Wyoming: Legislature Adjourns; CGAD Bill Signed by Governor

March 13, 2018 The Legislature has adjourned its 20-day budget session. Of interest to insurers is the passage and signing by Gov. Matt Mead of SF 7, the Insurance Corporate Governance Annual Disclosure bill. The bill is closely modeled after the ... Read more

Washington: NAMIC-Supported Corporate Governance Annual Disclosure Bill Sent to Governor

March 12, 2018 SB 6059, addressing the insurer corporate governance annual disclosure model act, passed out of the House on a unanimous vote after passing out of the Senate on a vote of 47-2. The proposed legislation is modeled after the ... Read more

Financial & Regulatory Brief: In the States

February 15, 2018 In a letter to all state insurance commissioners, NAMIC responded to claims made by the Consumer Federation of America and the Center for Economic Justice that the recently passed tax reform... Read more

Financial & Regulatory Brief: In the States

January 18, 2018 Last year, nine states adopted the NAIC Corporate Governance Annual Disclosure Model Act. Most recently the Delaware Legislature adopted the law and the department of insurance adopted Regulation 307, setting... Read more

Financial & Regulatory Brief: At the NAIC

January 18, 2018 NAMIC submitted two comment letters to the Group Capital Calculation Working Group at the NAIC, one related to senior debt and surplus notes and another regarding non-regulated entities. The comments... Read more

Washington: NAMIC Shares Suggested Revisions on CGAD Bill, Submits Testimony on Natural Disaster Risk Study Bill

January 9, 2018 NAMIC has submitted written testimony to the Senate Financial Institutions & Insurance Committee for the Jan. 9 public hearing on SB 6036, Natural Disaster Risk Study, and is working with the Office of the Insurance... Read more

Delaware: DOI Issues Notice Regarding Guaranty Fund Assessment Offsets for 2017, Adopts CGAD Rules

January 8, 2018 The Delaware Department of Insurance has issued a notice to all insurers subject to Guaranty Fund Assessments. Payments to the Delaware Insurance Guaranty Association or the Delaware Life and Health Insurance Guaranty Association for... Read more

Washington: Legislative Session Will be Off to the Races on Jan. 8

January 5, 2018 The 2018 legislative session begins Jan. 8 running for 60 consecutive days, adjourning on March 8. In recent years, the pattern has been to extend the session with special sessions to finish legislative... Read more

Financial & Regulatory Brief: In the States

December 20, 2017 The NAIC adopted the Own Risk and Solvency Assessment Model Act in 2012, which requires insurance companies to issue their own assessment of their current and future risk through an... Read more

Financial & Regulatory Brief: At the NAIC

December 20, 2017 The NAMIC Government Affairs staff attended the National Association of Insurance Commissioners’ fall meeting held Dec. 1-4 in Honolulu. NAMIC sent only two staff members to the meeting, and other... Read more

Corporate Governance to Become Accreditation Standard in 2020

December 12, 2017 The Financial Regulation and Accreditation Standards (F) Committee met to address several accreditation decisions that were deferred from the summer meeting. Last summer the... Read more

Washington: OIC Disseminates Draft Insurance Bills for 2018 Legislative Session -- FEEDBACK REQUESTED

December 11, 2017 The Washington Office of the Insurance Commissioner has disseminated draft bills on the NAIC corporate governance model act, risk mitigation, and the disaster resilience... Read more

Oregon: Adopts NAIC Model Corporate Governance Annual Disclosure Rules

November 30, 2017 The Oregon Division of Insurance adopted the NAIC's model Corporate Governance Annual Disclosure rules on Nov. 22. The rules were adopted pursuant to... Read more

Financial & Regulatory Brief: In the States

October 20, 2017 So far in 2017, nine states have adopted the NAIC Own Risk and Solvency Assessment Model Act, bringing the total number of states that have adopted ORSA to 49, leaving New Mexico as the only state that has not adopted... Read more

In the States: More States Adopt NAIC Models

July 21, 2017 With the passing of Senate Bill 97, Oregon becomes the 22nd state to pass an amendment to its Holding Company Act that would give it the authority to... Read more

In the States: More States Adopt NAIC Models

June 15, 2017 South Carolina became the latest state to adopt the NAIC's Own Risk and Solvency Assessment Model Act, an accreditation standard that requires... Read more

In the States: States Moving to Adopt NAIC Models

May 18, 2017 The 2017 state legislative sessions are ending and many states have taken recent action on NAIC model legislation. Since NAMIC's last report, four states - Idaho, Maryland, Utah, and... Read more

In the States: ORSA Getting Closer to Full Adoption in the States; Several CGAD and Group-Wide Supervision Bills Introduced

March 16, 2017 Mississippi and South Dakota become the latest states to adopt the NAIC's Own Risk and Solvency Assessment model. So far three states have adopted this model in 2017 and... Read more

In the States: States Already Moving to Adopt NAIC Models

January 19, 2017 The 2017 state legislative sessions are off to a fast start. Last year, only five states adopted the NAIC’s Own Risk and Solvency Assessment model; however, this year has already seen one state -- Massachusetts -- adopt the... Read more

In the States: States Prepare for 2017 Legislative Sessions

November 18, 2016 The South Carolina Department of Insurance has released a bill it intends to send to the General Assembly to consider for its 2017 legislative session. The bill includes the NAIC Own Risk and Solvency Assessment Model Act. Idaho has... Read more

In the States: States Quiet on NAIC Models; NAMIC Holds 121st Annual Convention; Disaster Resource Center Reactivated Due to Hurricane Matthew

October 13, 2016 There is nothing new to report related to the NAIC's Own Risk Solvency Assessment Model Act or the Corporate Governance Annual Disclosure Model Act. Thus far, five states -- Alabama, Arizona, Colorado, Florida, and ... Read more

In the States: NAIC Model Update; Regulator Response to Comments on Multi-State Diversity Survey; TRIA Data Collection Effort Continues

September 14, 2016 Most states have wrapped-up their 2016 legislative sessions, and activity related to NAIC model laws has slowed. Five states – Alabama, Arizona, Colorado, Florida, and... Read more

In the States: NAIC Model Update; Conn. Data Call on Crumbling Foundations; NAMIC Submits Comments on Multi-State Diversity Survey

July 14, 2016 Hawaii became the fifth state in 2016 and the 40th state overall to pass the NAIC Own Risk & Solvency Assessment Model Act. States that adopted the model in prior years have begun to receive their first ORSA Summary Reports from their... Read more

Nebraska: Department to Conduct Hearing on Proposed CGAD Regulation

June 10, 2016 The Nebraska Insurance Department issued a notice June 8 that it will conduct a public hearing on its proposed regulation to implement the... Read more

In the States: NAIC Model Updates

June 9, 2016 Since the last update, there has been very little activity on the legislative front regarding NAIC model laws. In 2016, four states Alabama, Arizona, Colorado, and Florida have passed the Own Risk and... Read more

In the States: NAIC Model Updates; New York Board Diversity Survey to be Issued

May 20, 2016 In the final hour of the 2016 Alabama legislative session, the House passed the NAIC Ow Risk and Solvency Assessment model law, and the governor signed the bill into law a week later. Alabama marks the... Read more

In the States: NAIC Model Act Enactments

April 22, 2016 Arizona, Colorado, and Florida became the first states in 2016 to adopt the NAIC Own Risk and Solvency Assessment model act. In total 38 states have... Read more

Cybersecurity Task Force Hears Concerns From NAMIC, Others on Draft Model Law

April 12, 2016 NAMIC and other industry groups expressed strong concerns to the NAIC’s Cybersecurity (EX) Task Force regarding its “Preliminary Working and Discussion Draft of the Insurance Data Security Model Law” during the task force’s meeting at the Spring Nationa... Read more

Nebraska: Governor Signs CGAD/Group Supervision Bill

March 31, 2016 Gov. Pete Ricketts signed on March 30 LB 772 , which, among other things, adopts the NAIC’s Corporate Governance Annual Disclosure Model Act and the group-wide supervision provisions of the Model Holding Company Act. The CGAD provisions in the bill take... Read more

In the States: NAIC Model Updates; NAMIC Responds to CDI Memo on Carbon-Based Investments

March 10, 2016 A number of states have introduced NAIC model legislation in 2016 that is required to maintain accreditation status by the NAIC. Six states – Alabama , Arizona, Colorado , Florida, Hawaii , and Massachusetts – have introduced bills in accordance with th... Read more

Florida: Outlook Bleak for AOB, TNC Bills; Others Headed to Governor

March 10, 2016 With one day left in the 2016 Florida legislative session, things look bleak for Assignment of Benefits reform and transportation network company insurance coverage, two high priority issues for the property/casualty insurance industry. However, several... Read more

In the States: NAMIC Model Updates; NAMIC Opposes Mandatory Catastrophe Reserve Act

February 11, 2016 The legislative sessions are off and running with five states – Arizona, Colorado, Florida, Hawaii, and Massachusetts – introducing bills similar to the NAIC Own Risk & Solvency Assessment Model Act. While no states have enacted legislation yet this yea... Read more

Florida: Legislative Activity on AOB Reform, ORSA, Citizens ‘DePop,’ WC Guaranty Fund Continues

February 9, 2016 Legislation to address vendor discipline only as it relates to the use of Assignment of Benefits was approved Feb. 8 by the House Government Operations Appropriations Subcommittee. According to a House staff analysis, HB 671 – what some call “AOB reform... Read more

In the States: Model Updates – 2010 Holding Company Act Enacted in all States!

January 15, 2016 Every state and the District of Columbia have adopted the 2010 revisions to the NAIC Holding Company Act, as Michigan enacted their law during the last week of 2015. For those keeping score, a little over 25 percent – 14 of the states – included in thei... Read more

In the States: Model Updates

December 10, 2015 Michigan remains the only state that has not adopted the 2010 changes to the Model Holding Company Act; however, it appears it is ready to move on the act before year-end. Thirteen states have enacted some sort of group-wide supervision language to thei... Read more

In the States: NAIC Model Updates

October 9, 2015 Michigan remains the only state that has not adopted the 2010 changes to the Model Holding Company Act, but it appears it is ready to move on the act before year-end. Thirteen states have enacted some sort of group-wide supervision language to their hol... Read more

In the States: NAIC Model Updates

September 10, 2015 Nearly all states have adopted the 2010 changes to the Model Holding Company Act, with Michigan remaining the last state that has not adopted the changes. NAMIC has made significant efforts during the past two years to convince regulators to provide a c... Read more

U.S. Insurance Regulation Scoring by IMF Discussed

August 25, 2015 There was a detailed presentation in the International Insurance Relations (G) Committee meeting about the results of the 2015 U.S. insurance regulation Financial Sector Assessment Program conducted by the International Monetary Fund. See the NAMIC spec... Read more

In the States: NAIC Model Updates

July 10, 2015 Alaska is the 49th state to enact the 2010 Holding Company Act revisions, and North Carolina will soon make 50, leaving Michigan the only state that has not adopted the revisions. Rhode Island, Louisiana, and Connecticut are the latest states to enact t... Read more

In the States: NAIC Model Act Enactments

June 11, 2015 Missouri is the 48th state to enact the 2010 Holding Company Act revisions. Alaska has a bill on the governor’s desk awaiting signature. Both Michigan and North Carolina have bills working through their legislatures. Group supervision was added to the H... Read more

In the States: Model Law Enactments

May 14, 2015 Forty-seven states including the District of Columbia have enacted the 2010 Holding Company Act revisions. Alaska and Missouri are on the verge of passing the revisions as there are bills awaiting their governors’ signatures. That leaves Michigan and No... Read more

In the States: All States Nearing Passage of 2010 Holding Company Revisions; ORSA Legislative Activity Heating Up; Iowa Could Be First State to Enact Corporate Governance Model

April 9, 2015 Three states – North Dakota, South Carolina, and Utah – enacted the 2010 revisions to the Model Holding Company Act in March. There are now 44 total states that have enacted the required revisions. Arkansas will soon enact legislation as there is a bill... Read more

Regulators Acknowledge Unlevel Playing Field Against Third-Party Examiners – ‘Can’t Compete on Salary’

April 7, 2015 As Risk-Focused Examinations continue to evolve, the levels of skills and expertise needed to perform a modern insurance examination are much greater today than in years past. And tomorrow? In 2015, all insurance companies with direct written premium ab... Read more

Accreditation, Model Laws: Confidentiality Concerns

April 7, 2015 The first round of revisions to the Holding Company Act was adopted by the NAIC in December 2010 in response to the financial crisis and the need for enhanced group supervision. Since that time 45 states and Puerto Rico have enacted the revised model in... Read more

Industry Continues to Push for Change as Regulators Move to Improve Examiner Guidance

March 25, 2015 The Risk-Focused Surveillance (E) Working Group will have its first in-person meeting on March 29 to review comments on its exposure drafts for both the NAIC Financial Analysis and Financial Condition Examiners handbooks. As part of the efforts on the C... Read more

In the States: Confidentiality Concerns for Model Act Adoption; Corporate Governance State Activity Building

March 12, 2015 South Dakota became the latest state to enact the 2010 revisions to the Model Holding Company Act, resulting in 41 total states Puerto Rico passing revisions. Eight states are currently considering the model act, while two other states that have already... Read more

In the States: Confidentiality Concerns Continue as States Adopt Holding Company Revisions, ORSA; Other Legislative, Regulatory Proposals on Financial Issues

February 12, 2015 Significant legislative activity is underway as states look to adopt NAIC model acts. So far, 40 states have adopted the 2010 revisions to the NAIC Model Holding Company Act, and in 2015, eight states have bills in progress that are considering the revi... Read more

In the States: D.C. Joins States Passing 2010 HCA Revisions; Group-Wide Supervision, Corporate Governance Are Next Models Up for Enactment

December 12, 2014 The state activity related to the 2010 revisions to the Model Holding Company Act will begin again as state legislatures begin sessions in the 2015. Thirty-eight states have enacted the revisions, and in November the District of Columbia passed the revi... Read more

Corporate Governance Models Now Fully Adopted

December 2, 2014 The Corporate Governance Annual Disclosure model act and model regulation was adopted at the NAIC Fall National Meeting by the Executive/Plenary Committee. NAMIC did not oppose the model act or model regulation in their final forms as many of the issues... Read more

Corporate Governance Working Group

November 12, 2014 We anticipate that the Corporate Governance Annual Disclosure Model Act and model regulation will be adopted at the fall national meeting by the NAIC Executive/Plenary Committee. NAMIC did not oppose the model act or model regulation in their final form... Read more

Industry Group to Strategize Next Steps in Eliminating Redundant Filing Requirements

November 12, 2014 At the last national meeting in Louisville, the Financial Condition (E) Committee issued a new charge to the Risk-Focused Surveillance Working Group. The charge is to review existing examination and analysis procedures to identify and eliminate redundan... Read more