National Association of Insurance Commissioners (NAIC)

In a recent Insurance Journal op-ed, NAIC Officers emphasized that “[t]he effectiveness of the U.S. state-based insurance regulatory framework in safeguarding consumers and ensuring market solvency is rooted in states’ ability both to act collectively when needed on national issues and to adapt and innovate to unique local circumstances and market conditions.” That approach has served the state-based system of insurance regulation well for more than 150 years. As we look ahead to 2025, it’s worth reiterating the role that America’s 56 insurance commissioners play in monitoring the home insurance markets in their individual states and territories to protect consumers’ access to fair, competitive, and healthy insurance markets. These regulators know their market better than anyone. They know the consumers they serve, the companies offering coverage, the products available and in development, and the risks policyholders and insurance companies face. From targeted data collection and market analysis to regular, comprehensive market conduct examinations, state insurance regulators have checks on insurance companies’ compliance with applicable laws and regulations and are quickly able to identify practices that could have a negative effect on consumers. These regulators are focused on reviewing companies’ operations and management, complaint handling, marketing and sales, policyholder service, underwriting and rating, and claims. They investigate consumer complaints against insurance companies and producers, including improper cancellations, unfair claims practices and misconduct, and disagreements about claim payments. They also review insurance company premium rates and policy forms for the products available in their state’s market. Because market conduct problems can signal a potential solvency concern, regulators use this information to supplement the robust financial data they routinely require companies to submit for examination and analysis. Insurance departments in every state, the District of Columbia, and the five U.S. territories coordinate through the National Association of Insurance Commissioners (NAIC), and they unite as the state-based system of insurance regulation. Collectively, they are able to share best practices, explore potential market disruptions, and address emerging trends that impact access to insurance coverage. They are also able to aggregate the data they collect individually to provide a snapshot of insurance markets nationally. Read the full article: https://ow.ly/SZbl50UlRXN

Now #Hiring: Washington State Office of the Insurance Commissioner Position: Assistant Chief Financial Examiner Compensation: $114,000 - $126,528 Annually Job Description: The Office of the Insurance Commissioner (OIC) is looking for a dynamic and experienced leader to join the Company Supervision Division as Assistant Chief Financial Examiner. In this role, you will be an essential member of the management team, collaborating with departments across the organization to ensure the integrity and solvency of licensed insurers in Washington State. You’ll have the opportunity to supervise and develop a dedicated team of examiners, guiding them through the examination process while ensuring compliance with Washington State insurance laws, regulations, and NAIC Accreditation Standards. As a key part of your responsibilities, you’ll also serve as the acting Chief Financial Examiner when needed and report on the status of ongoing and upcoming examinations. Your leadership will be crucial in driving the efficiency and accuracy of the examination process. You will oversee the development and updates of policies and procedures, ensuring all examination activities meet high standards for quality, timeliness, and compliance. Additionally, you will be responsible for preparing detailed reports, reviewing findings, and presenting recommendations for corrective actions when necessary. Representing the OIC at NAIC meetings, working groups, and task forces, you’ll contribute to national initiatives that shape the future of insurance regulation. If you have a strong background in insurance, a passion for leadership, and a commitment to maintaining a stable and competitive insurance market, apply and be part of this dedicated team! Apply Here: https://ow.ly/aC4650Vj4xz Contact: Carmelyn Russell WA OIC on the Web: https://lnkd.in/dVJuRZBJ #washington #insurance

The National Association of Insurance Commissioners (NAIC) will host its hybrid 2025 #NAICSpringMeeting on March 23–26 in Indianapolis, Indiana. State and U.S. territory insurance regulators, industry representatives, and other stakeholders domestically and abroad will discuss current and emerging issues, make progress in industry initiatives, and gain critical insights. With over 2,000 attendees registered to participate, the 2025 Spring National Meeting comes at a pivotal time, as state insurance regulators tackle issues such as increasingly severe natural disasters and inflation. On March 24, NAIC President and North Dakota Insurance Commissioner Jon Godfread will deliver the event’s keynote address, where he will discuss the NAIC’s priorities and work in 2025. “For over 150 years, the NAIC has been dedicated to maintaining fair and stable insurance markets, leveraging state-driven innovation to address local needs,” said NAIC President and North Dakota Insurance Department Commissioner Jon Godfread. “As insurance regulators, we are in a defining moment, where our role is more critical than ever in supporting our communities and consumers, ensuring they remain resilient in the face of the many challenges shaping the insurance landscape and impacting Americans’ financial outlook.” “As our industry navigates a rapidly evolving marketplace, the NAIC Spring National Meeting provides a great opportunity for regulators and industry leaders to collaborate on consumer-focused solutions,” said NAIC Secretary-Treasurer and Utah Insurance Department Commissioner Jon Pike. “Through our commitment to advancing state-based regulation and being agile in the face of change, we can ensure a strong, resilient insurance marketplace that effectively protects policyholders nationwide.” A special session hosted by the NAIC’s Center for Insurance Policy and Research (CIPR) will feature a notable topic on Tuesday, March 25: “Back to Basics: Residual Markets." Read the full release for more info: https://ow.ly/Wzsc50VkG9F

Registration has opened for the NAIC's 2025 International Insurance Forum in Washington, DC. The International Insurance Forum is the NAIC's flagship international event, bringing together insurance regulators, industry professionals, policy makers, and thought leaders from around the globe to explore key issues facing the insurance sector and how companies, consumers, and regulators are addressing them. Learn more: https://ow.ly/Z1Eo50Vi6h2

Now #Hiring: Colorado Division of Insurance Position: Executive Assistant to the Commissioner and Senior Staff Compensation: $52,344 - $68,052 Job Description: The Executive Assistant to the Commissioner is responsible for managing the Commissioner's daily and travel schedule, including scheduling of requested meetings and events, procuring of appropriate resources, making the Commissioner's travel arrangements, and preparing correspondence for the Commissioner. The position analyzes and identifies gaps in existing processes and uses independent judgment to implement improvements to identified gaps in order to help the office run more smoothly and achieve the objectives of the Division. The position uses judgment to determine priorities of scheduling and navigate competing asks for the Commissioner and senior staff’s time. Apply Here: https://ow.ly/uJH150VgTFO? Contact: Kate Harris: [email protected] CO DOI on the Web: https://doi.colorado.gov/ #colorado #insurance

Now #Hiring: Illinois Department of Insurance Position: Insurance Company Field Staff Examiner Compensation: $62,148 - $88,092 Job Description: The Insurance Company Field Staff Examiner serves as Group Supervision Analyst, reviewing and analyzing insurance group holding company filings, including Own Risk and Solvency Assessment (ORSA), Corporate Governance Annual Disclosure (CGAD) and Group Capital Calculation (GCC) filings, per the current agency established procedures and guidelines to determine the insurer's compliance with the Illinois Insurance Code, applicable laws and Department rules and regulations. Other Information: Answer all application questions thoroughly. Do not state "see resume". Apply Here: https://ow.ly/a3Fr50VgrQC Contact: [email protected] IDOI on the Web: https://idoi.illinois.gov/ #illinois #insurance

Now #Hiring: Washington State Office of the Insurance Commissioner Position: Deputy Insurance Commissioner - Operations Compensation: $165,000.00/annually Job Description: The Office of the Insurance Commissioner (OIC) seeks a motivated and qualified individual for a Deputy Insurance Commissioner for the Operations Division. This role is based out of our Tumwater Office. This position is an executive leader, reporting directly to the Chief Deputy Insurance Commissioner, managing the agency's Operations Division comprised of the following business units: Fiscal (Budget & Finance); Office Support; Facilities; Employee Health, Safety and Security; Telecommunications; Information Technology; Public Records; and Presiding Officer for Administrative Hearings. The Deputy of Operations has oversight of key functions including IT infrastructure, budget development and accounting processes, procurement and management of assets, business process transformation efforts, business continuity plans and workplace health and safety, and compliance with the state Public Records Act. As a member of the Executive Management Team (EMT), this position participates in setting the strategic direction for the agency, establishing legislative priorities, ensuring fiscal responsibility, and creating an inclusive, performance-based culture. Apply today and become a leader of our dedicated and professional team! This is a civil service exempt position. Explore the website for additional benefits. Apply Here: https://ow.ly/zLNG50V9xNI Contact: Carmelyn Russell DOI on the Web: https://lnkd.in/dVJuRZBJ #washington #insurance

The NAIC celebrates the 80th anniversary of the McCarran-Ferguson Act. This landmark legislation, passed in 1945, reaffirmed the pivotal role of states in insurance regulation, allowing provisions to address the unique needs of each state's residents. As we commemorate this significant milestone, we acknowledge the enduring importance of state-based regulation in safeguarding insurer solvency, maintaining competitive markets, protecting consumers, and ensuring financial stability.

The NAIC has opened applications for its Spring 2025 Virtual International Fellows Program, taking place April 28–May 12, 2025. Learn more about this unique training opportunity: https://ow.ly/W4yT50VcZpQ

The NAIC has released its 2021–2022 Auto Insurance Database Report, the most current compilation of automobile insurance costs throughout the United States. The report summarizes 2022 expenditures and averages for each state. View the full report: https://ow.ly/IoxV50V9ugt