NAIC Greets Six New Commissioners

January 31, 2003 at 07:00 PM

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NU Online News Service, Jan. 31, 12:52 p.m. – The National Association of Insurance Commissioners, Kansas City, Mo., will be greeting six commissioners for the first time Feb. 3-4 at its annual huddle in Denver.

The freshman class of commissioners is the largest group in a decade. Currently, there are 13 new commissioners, but that number is expected to reach up to 23 sometime this year.

Mike Pickens, the new president of the NAIC, says the NAIC is establishing a mentor program, so that new commissioners can learn from seasoned commissioners.

Despite all the staff turnover at insurance departments, the transition can be a smooth one because "there are good people behind those people that are willing to step up," Pickens says. "We have a deep bench in the states."

The NAIC will also be working to educate state and federal lawmakers, Pickens says.

Top NAIC issues this year could include efforts to set up a federal insurance regulation system, implementation of the Terrorism Risk Insurance Act of 2002, and the role of state insurance regulators in enforcing compliance with the USA PATRIOT Act money-laundering provisions.

Pickens also expects the NAIC to be talking about market-based strategies for controlling the cost of health insurance and a U.S. General Accounting Office report that will discuss the insurance market conduct examination process.

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