The National Council of Insurance Legislators (NCOIL) recently concluded its 2023 Annual National Meeting in Columbus, Ohio, marking a historic moment with the election of a majority-diverse group of officers for the upcoming year.
This event, which took place Nov. 15-18, saw the participation of 347 attendees, including 52 legislators from 25 states, seven first-time legislators, six insurance commissioners, and representatives from 16 total insurance departments.
Ferguson, who concluded her term as NCOIL president at the meeting, reflected on the organization's strong performance in 2023 and its commitment to inclusivity.
“In addition to advancing our policy priorities, we have strived this past year to create an atmosphere that is more welcoming for people of diverse viewpoints to contribute to our discussions which really is key in reaching consensus on the issues. As our membership has changed, so too has our officer group evolved naturally so that over the past few years has come to be more reflective of America as a whole,” she said.
NCOIL CEO Commissioner Tom Considine also highlighted the organization's successful year under Ferguson's leadership.
“The model laws we adopted and issues we discussed shows how NCOIL continues to lead on pressing insurance public policy issues and sets the organization up for a busy 2024, led by this wonderful officer group of Rep. Oliverson, Asw. Hunter, Sen. Utke, Rep. Jordan, and Rep. Ferguson,” Considine said.
The meeting's agenda covered a range of topics, including the growth of artificial intelligence, the US Department of Labor’s Fiduciary Rule, catalytic converter theft insurance issues, medical loss ratios for dental health care services plans, public adjuster professional standards reform, and more.
The Health Insurance & Long Term Care Issues Committee, chaired by West Virginia delegate Steve Westfall, adopted a resolution supporting health savings account-qualified health insurance policies. The committee also continued discussions on the NCOIL Medical Loss Ratios for Dental (DLR) Health Care Services Plans Model Act.
A general session on artificial intelligence, moderated by Oklahoma Rep. Forrest Bennett, chair of the NCOIL Financial Services & Multi-Lines Issues Committee, addressed the rapid development and impact of AI on insurance and other industries.
The Workers’ Compensation Insurance Committee, chaired by Ohio Sen. Bob Hackett, discussed federal workers' compensation issues, medical marijuana's impact on the workers' compensation marketplace, and trends in medical treatment and diagnosis.
South Carolina Rep. Carl Anderson chaired the Life Insurance & Financial Planning Committee, discussing the NCOIL Life Insurance is a Promise for Life Model Act, the return of the U.S. Department of Labor Fiduciary Rule, and activities of the NAIC’s Securities Valuation Office (SVO).
Newly elected NCOIL president Oliverson expressed his honor in taking up the role and his readiness to address pressing insurance public policy issues.
“I am honored to be elected NCOIL president and look forward to working with my fellow officers to continue advancing the organization. There are many pressing insurance public policy issues on the horizon for next year and I’m confident we are ready to hit the ground running,” Oliverson said.
In other recent developments, and in commemoration of National Preparedness Month, NCOIL has emphasized the importance of effective disaster planning amid the rising threat of severe weather events.
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