NAIC Releases First Report on COVID-19 and State Insurance Regulation
The NAIC has released its first update regarding the current pandemic and the insurance industry: A Report of the NAIC on the State Insurance Regulatory Response to COVID-19.
This report chronicles state insurance regulators’ actions from January 1, 2020–May 31, 2020, and how those actions have helped mitigate the effects of the pandemic on insurance consumers.
“The NAIC will continue to work with commissioners and their staff to assess the issues related to ongoing solvency of major U.S. carriers, the need for further regulatory relief in 2020, continued policymaker interest in business interruption insurance, policy engagement on COVID-19 health coverage issues, and other issues,” the NAIC states in the report. You can download the report here.