NAIC under fire; The NAIC struggles to redefine itself
Article Abstract:
The National Association of Insurance Commissioners (NAIC) is addressing concerns about its role in the insurance industry. Newly appointed insurance commissioners are especially interested in reforming the association. For example, Illinois' acting insurance commissioner, Jim Schacht, wants the NAIC to open all meeting and change its accreditation process. Michigan's insurance commissioner, Patrick M. McQueen, wants the NAIC to improve its accountability with regards to the budget. Other concerns are discussed.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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Under fire: the NAIC struggles to redefine itself
Article Abstract:
The National Assn of Insurance Commissioners (NAIC), at its spring 1995 meeting, failed to quell criticism by some of its members and by state legislators. The organization agreed to conduct a self-appraisal that could lead to significant changes in its management. The self-appraisal will be based on a memorandum, written by Jim Schacht, Illinois' acting insurance commissioner, that calls for a reevaluation of the NAIC's accreditation standards and changes in its budget process.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
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Shakeups looming for mutual executives
Article Abstract:
Many insurance executives do not have as secure a position in their businesses as they once held. Mergers, demographic changes, outside competition, capital needs and business innovation are several of the reasons for the tenuous position of insurance executives. Mutual insurance executives have the least security because of the strength of individual insurance agents.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
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