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Election,
Gramm-Leach-Bliley Working Groups, Journalist Jane Bryant Quinn
Highlight NAIC Winter Meeting
KANSAS CITY – Members of the National Association
of Insurance Commissioners will elect new officers and consider the
association’s 2000 budget during the association's Winter National
Meeting in Boston, December 2-5. In addition, Speed to Market and
National Treatment proposals will be discussed, and attendees will
hear from noted journalist Jane Bryant Quinn.
"We have a very full agenda for consideration at
this meeting. State regulators are moving aggressively to protect
consumers in the rapidly changing world of financial services
modernization," George Nichols III, NAIC President and Kentucky
Commissioner of Insurance, said. "We have had a very full year, and
I am proud of our accomplishments. I hope to continue that momentum
at this year’s last meeting."
The meeting headquarters hotel is the Boston
Marriott Copley Place Hotel, 110 Huntington Avenue. Additional
meetings will be held at the Westin Hotel Copley Place, 10
Huntington Avenue.
Jane Bryant Quinn, award-winning columnist for
Newsweek and Good Housekeeping, will address the
Opening Session of the NAIC on Sunday, December 3, in Salons F/G on
the Fourth Floor of the Marriott. She will be addressing consumer
perceptions of regulators and state regulation of insurance. Quinn
is a leading commentator on personal finance and author of the best
seller "Making the Most of Your Money," a comprehensive guide to
personal finance.
On Monday, December 4, NAIC members will elect 2001
officers following a meeting of the Executive Committee, which will
be held at 2 p.m. in Salons F/G of the Marriott. The Executive
Committee will consider the 2001 budget, which was approved by the
NAIC’s Internal Administration (EX1) Subcommittee earlier this
month. Also under consideration for adoption by the committee are
several model laws including the Home Service Disclosure Model Act,
the Small Employer and Individual Health Insurance Availability
Model Act, and the Universal Life Insurance Model Regulation.
Also on Monday, the National Treatment of Companies
Working Group will meet to consider a limited-launch program
designed to evaluate the effectiveness and efficiencies of a system
of national treatment. This open meeting will be held from 1 to 2
p.m. in Salons F/G of the Marriott.
An interim meeting of the Speed to Market Working
Group will be held November 20-21 in Kansas City to expose the work
of the CARFRA Subgroup and the Improvements to State-Based Systems
Subgroup. The CARFRA Subgroup is finalizing plans for a limited
launch of the program early next year. The second subgroup has
developed recommendations relating to administrative efficiencies
that could be quickly implemented by the states. They are also
recommending changes to the regulatory framework for commercial
lines property and casualty filings. The Boston meeting of the Speed
to Market Working Group will focus on reviewing comments on the
subgroups’ work products and will be held Monday, December 4, from
8-11 a.m. in Salons F/G of the Marriott.
Other highlights of the upcoming meeting
include:
- The Antifraud Task Force will host a presentation by the
Federal Emergency Management Agency (FEMA) on the Federal Flood
Insurance Program, Catastrophe Fraud and the joint cooperation
between state and federal investigations. (Saturday, December 2, 3
p.m., Salons C/D, Fourth Floor, Marriott)
- The Medicare Supplement Working Group will hold a public
hearing to solicit comments on the 10 standardized Medigap plans.
(Sunday, December 3, 2:30 p.m., Essex South, Third Floor, Westin)
- The Viatical Settlements Working Group will consider adoption
of a revised Viatical Settlements Model Act that will cover
so-called life or senior settlements, address investment issues
and include new provisions related to fraud, examination and
advertising. (Monday, December 4, 3:30 p.m., Essex Center, Third
Floor, Westin)
The NAIC is located on the World Wide Web at
www.naic.org. It is the nation's oldest association of state
government officials, consisting of insurance regulators from the 50
states, the District of Columbia and four U.S. territories.
(Note: Members of the media may register on-site at
the Marriott Copley Place Hotel and Westin Hotel
Copley Place free of charge. The NAIC will offer a media
workroom in the Massachusetts Room, fifth floor, from 8 a.m. to 5
p.m. Sunday-Tuesday. All registrants receive a complete schedule of
meetings upon arrival.)
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