NAIC 2018 Summer Meeting Newsletter

More About | Insurance | Risk & Regulatory

The following represents a summary of the key decisions made by the National Association of Insurance Commissioners (NAIC) during the 2018 Summer National Meeting.

Executive Committee

The Executive (EX) Committee met in open session on Aug. 4 - 5, 2018 at the Summer National Meeting and via conference call on April 17, 2018. The committee met in regulator-toregulator joint session with the Internal Administration (EX1) subcommittee on Aug. 4, 2018 and committee held a regulator-to-regulator session on July 17, 2018.

The committee received a report on the NAIC State Ahead implementation efforts. The NAIC State Ahead is intended to further advance the services the NAIC provides to state regulators. Currently, it is comprised of 96 projects, 10 of which are completed, 35 of which are active, and 51 of which are planned to start in the future. A significant element of NAIC State Ahead is moving NAIC applications and data storage solutions to the cloud in order to facilitate a more efficient data intake and analysis as well as offer more tools to membership and consumers. During the Summer National Meeting the committee adopted three technology-related fiscal impact statements related to active projects.

The committee approved a motion to direct the Property and Casualty (C) Committee to establish a Cannabis (C) Working Group to consider the insurance regulatory issues surrounding the legalized cannabis business. The charge of the working is planned to be completed by first quarter 2020. The committee received a status report of model law development efforts for amendments to the following:

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