NAIC Update: Spring 2012
Almost seven years after Hurricane Katrina disrupted the last NAIC meeting in New Orleans, the partially rebuilt Crescent City bears testimony to both the central importance and limits of insurance coverage and federal intervention in disaster recovery. The Big Easy also bore witness to the return of the NAIC, which held its spring 2012 meeting on the once more relatively placid banks of the mighty Mississippi.
Like the return of tourists strolling the French Quarter in at best semi-straight lines, this meeting marked somewhat of a return to normalcy for the NAIC. Gone for the most part was the sturm und drang that characterized recent NAIC meetings. The insurance sector under the control of state regulators had clearly survived the fiscal crisis of the past decade in relatively good shape.
NAIC Update: Spring 2012 features the following:
- NAIC President Kevin McCarty lists his priorities
- ORSA pilot program taking flight
- IAIS weighs changes to ComFrame coverage scope
- Regulators move cautiously on cat risk calculation for RBC
- Contingent deferred annuities get passing grade
- NAIC health update
- NAIC actuarial update
- NAIC accounting update
To read the full report, download the pdf.