Abstracts » Insurance

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.

Insurance Regulation, Professional Membership Assns

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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.

Professional Organizations NEC, Insurance Regulation ex Auto-State, Officials and employees, Laws, regulations and rules, State government, Public officers, Government officials, State employees, State officials

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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.

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