National Association of Insurance Commissioners
|National Association of Insurance Commissioners|
Founded in 1871, the NAIC and its members have become "the national system of state-based insurance regulation in the U.S." In 2012, it reported over $90 million in unrestricted net assets, with database fees its largest revenue source and staff salaries its biggest expense.
The NAIC cites five "fundamental insurance regulatory goals" that its members and staff work to support:
- "Protect the public interest"
- "Promote competitive markets"
- "Facilitate the fair and equitable treatment of insurance consumers"
- "Promote the reliability, solvency and financial solidity of insurance institutions"
- "Support and improve state regulation of insurance"
NAIC and its staff provide two key services. One is internal: the NAIC assists insurance regulators in coordinating their efforts and ensuring uniform practices. The second is external: the NAIC works to represent the interests of its members and the public to both other government officials and the private insurance industry.
The NAIC is organized into committees, each of which oversees either a specific insurance policy area or function of the NAIC. Information about committees and their structure can be found on the NAIC site.
The NAIC is headed by an Executive Committee, which in turn is broken into regional zones.
|Chair||James Donelon, Louisiana|
|Vice Chair||Adam Hamm, North Dakota|
|Vice President||Monica Lindeen, Montana|
|Secretary-Treasurer||Michael Consedine, Pennsylvania|
|Immediate Past President||Kevin McCarty, Florida|
|2009 Past President||Roger Sevigny, New Hampshire|
|2008 Past President||Sandy Praeger, Kansas|
|Chair||Joseph Murphy, Massachusetts|
|Vice Chair||Thomas Leonardi, Connecticut|
|Secretary||Benjamin Lawsky, New York|
|Chair||Jim Ridling, Alabama|
|Vice Chair||Julie McPeak, Tennessee|
|Secretary||Sharon Clark, Kentucky|
|Chair||John Huff, Missouri|
|Vice Chair||Stephen Robertson, Indiana|
|Secretary||Ted Nickel, Wisconsin|
|Chair||Gordon Ito, Hawaii|
|Vice Chair||Scott Kipper, Nevada|
|Secretary||Tom Hirsig, Wyoming|
Center for Insurance Policy and Research
The Center for Insurance Policy and Research (CIPR) is a policy think-tank within the NAIC. Using the resources and expertise of the NAIC, the CIPR produces policy and engages in government relations, particularly with federal officials. This helps include the federal government into the inter-state cooperation of the NAIC.
The CIPR spells out four areas of importance for its efforts:
- "Regulatory cooperation between federal, state and international agencies and functional regulators"
- "Comprehension of insurance-related topics and issues by federal policy makers and others"
- "Insurance information exchange between the states and the federal government"
- "NAIC and state regulator participation in public policy discussions and decisions affecting insurance and the broader financial services sector"
National Association of State Treasurers • National Association of State Auditors, Comptrollers and Treasurers • National Association of Insurance Commissioners • National Association of State Departments of Agriculture • National Association of Regulatory Utility Commissioners
State executive officials