NAIC Launches “Protecting the Future” to Highlight the Benefits of State-based Insurance Regulation and Issues RFP for Outside Consultant

On July 16, 2014, the National Association of Insurance Commissioners (NAIC) announced it was launching an educational initiative called “Protecting the Future” to educate the public and other insurance supervisory bodies on the benefits of the U.S. state-based system of insurance regulation.  This program is being “deployed in Washington, D.C.; Brussels, the capital of the European Union; and in Basel, Switzerland, the seat of the Financial Stability Board (FSB) for the G-20.”

The announcement notes that “[o]f the 50 largest insurance markets in the world, …

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President Obama’s ACA Extension – NAIC Response

With the January 2014 effective date under the Affordable Care Act’s (ACA) essential benefits and guaranteed coverage provisions quickly approaching, several million people have received a cancellation notice. Facing wild criticism, President Obama responded with a regulatory fix that will allow Americans to keep ACA non-compliant insurance policies, albeit temporarily.

The extension gives American consumers the option to renew their current non-conforming plans for one year. This extension mostly affects those plans not grandfathered in under the ACA, including those newer policies that were purchased …

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