NAIC Releases Update on Pandemic and Insurance Industry
The National Association of Insurance Commissioners (NAIC) has released its second update regarding the current pandemic and the insurance industry: A Report of the NAIC on the State Insurance Regulatory Response to COVID-19 Update 2.
The latest report outlines the actions taken by members and regulators from June 1, 2020 to September 30, 2020 to help curtail the impact of the pandemic.
“The state-based regulatory system quickly pivoted to not only address a global pandemic, but issues like Race and Insurance and Climate Risk and Resiliency, among others,” said NAIC President and South Carolina Director of Insurance, Ray Farmer. “We’ve been able to address these priorities by staying true to our core values. This report summarizes the efforts and results on behalf of the NAIC and the nation’s insurance regulators.”