The National Association of Insurance Commissioners endedits year last week with a special joint conference call of itsExecutive and Plenary Committees. The group passed a number ofregulatory measures, including:

  • The American Health Benefit Exchange Model Actwhich gives states a framework with which to create a healthinsurance exchange that is compliant with the federal law;
  • Model language to assist states as they bringtheir laws into compliance with regard to early implementationprovisions of federal health care reform;
  • The Rate Filing Disclosure Form and Project Summary andStandard Definitions and Summary of Benefits Coveragewhich gives additional guidance to the Department of Health andHuman Services as they implement provisions of health carereform;
  • An updated model bulletin on the Use of Retained AssetAccounts to ensure consumers are protected and that thesetypes of settlements are appropriately used; and
  • The revised Insurance Holding Company System RegulatoryAct and Insurance Holding Company System Model Regulation withReporting Forms and Instructions which collectivelyprovides state regulators with important new tools for evaluatingrisks within insurance groups.

The NAIC also adopted its 2011 operating budget which includestotal revenues of $75.2 million and total expenses of $75.4million.


Links to all of the measures approved on the call can be foundhere.


"Our work is a fitting capstone to a year of tremendous effortand collaboration," said NAIC President and West Virginia InsuranceCommissioner Jane L. Cline. "The work we have done in health care,recommendations on the use and disclosures for retained assetaccounts, and changes to the Holding Company Model Act demonstratethis organization's commitment to consumer protection within thecontext of stable markets and effective regulation. We look forwardto building on this momentum in 2011."

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