Statement by the National Association of Mutual Insurance Companies
The National Association of Mutual Insurance Companies submitted a comment letter Jan. 20 to the National Association of Insurance Commissioners regarding the NAIC’s proposed changes to its Policy Statement on Open Meetings. The following statement can be attributed to Neil Alldredge, NAMIC’s senior vice president of State & Policy Affairs.
“NAMIC strongly believes the NAIC must have a robust and effective open meetings policy in order to promote transparency to create confidence in the association among regulated entities and policymakers. In our view the proposed changes represent a significant improvement to the NAIC’s policy statement on open meetings, and we commend the NAIC for taking up this matter in earnest and express appreciation to the regulators who worked on the revision. We agree that some meetings need to be closed, but those should be rare and should be for a specific purpose, such as regulatory action about a particular company or NAIC personnel issues.
“However, we continue to have concerns with some aspects of the policy statement, and we recommend additional improvements, especially the areas where NAIC action affects the substance of state law directly, like the changes made to the Annual Statement. The policy statement states that it does not apply to several categories of meetings where public policy matters are discussed. We believe this exception should be eliminated.”
Director of Public Affairs, State & Policy Affairs