NAIC draws attention to consumer protection in Congress meeting

NAIC draws attention to consumer protection in Congress meeting | Insurance Business

NAIC draws attention to consumer protection in Congress meeting
The National Association of Insurance Commissioners (NAIC) was in Washington, D.C. the previous week to discuss issues plaguing the insurance industry with Congress.

Notably, the topics covered during the “2016 Commissioner Washington, D.C. Fly-In” included cybersecurity, flood insurance, health reform, and retirement security.

About 40 chief state insurance regulators and senior staff from across the country participated in the discussions. The regulators were briefed prior to the delegation by Senator Susan Collins, R-Maine, and Congressman Sean Duffy, R-Wisconsin.

Over two days, members of NAIC met with their respective congressional representatives to share with them the association’s legislative agenda, explain the impact of policy initiatives in the states, and inform legislators on any international developments related to insurance regulation.

“More than ever, actions at the federal level impact citizens in Maryland,” said Maryland insurance commissioner Al Redmer, Jr. “Drawing on that connection, and finding ways to collaborate will help us better protect consumers and maintain strong insurance markets at home and nationally.”

Redmer was chosen to succeed outgoing commissioner Susan L. Donegan as the new chair of the NAIC; Donegan steps down by the end of June.