PPACA Work Dominates NAIC Meeting

Cline also talked about implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Congress left most insurance regulatory authority in the hands of the states, but the industry will see "much more engagement with our colleagues in D.C." with the creation of a Federal Insurance Office (FIO) at the U.S. Treasury Department, Cline said.

The FIO should be especially helpful at helping insurers expand outside the United States, Cline said.

Washington State Insurance Commissioner Mike Kreidler welcomed attendees and noted that the state has had experience with overseeing the oldest health care cooperative in the country. He said that experience can help states move forward on the Affordable Care Act.

"We have a huge task ahead to make sure that it is done right," Kreidler said. "We hold the lives of millions of people in our hands. We have no choice but to get it right."