For Immediate Release
July 15, 2019
Contact: Paul Penna
(732) 201-4133
2019 NCOIL SUMMER MEETING IN NEWPORT BEACH A SUCCESS
Continued Policy Discussion, Interesting General Sessions and Important Speakers and Presenters
Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) met this past week at the Newport Beach Marriott Hotel and Spa in Newport Beach, CA and hosted a successful Summer Meeting with more than 315 attendees, 57 legislators from 27 states, including 14 first time attendees, 4 Insurance Commissioners (or equivalent), and representatives of 14 state insurance departments. The 7 policy committees all met, as well as the third meeting of the Special Committee on Natural Disaster Recovery.
“I am proud that NCOIL attracted a large number of first-time attendees and legislators from more than two dozen states” said Louisiana Senator Dan “Blade” Morrish, NCOIL President. “NCOIL continues to grow and its’ reputation as a force to protect state based regulation of insurance is enhanced every day.”
Participants at the Welcome Breakfast heard from CA Insurance Commissioner Ricardo Lara who discussed his first few months in office and the policy challenges California and the nation face with regard to climate change, cannabis policy and how technology is changing the insurance industry.
“As we celebrate NCOIL’s 50th year, I am proud that the upward trend in participation continues to grow” said Commissioner Tom Considine, NCOIL CEO. “Combine that with high level speakers including FIO Director Steven Seitz, Senior Advisor to the Secretary of Health and Human Services Jim Parker and California Insurance Commissioner Ricardo Lara show that we are making progress and educating legislators, and now staff about insurance public policy trends.”
Steven Seitz, Director of the Federal Insurance Office delivered remarks about the goals of his office and engaged in a question and answer conversation with Commissioner Considine.
There were three interesting and timely general sessions: “Prior Authorization: An Obstacle to Care or a Needed Cost Saver?”; “Driving Rx Drug Costs Down via Biosimilars?”; and a “Discussion on the Evaporating Insurance Market for Contact Sports.”
The Financial Services & Multi-Lines Committee re-adopted the Insurance Fraud Model Act with amendments to strengthen it since it was passed nearly two decades ago. The Joint State-Federal Relations & International Insurance Issues Committee passed a resolution in support of the recently amended NAIC Credit for Reinsurance Models. The Property & Casualty Insurance Committee re-adopted the State Flood Disaster and Mitigation Relief Model Act and adopted a Model Law in Response to the American Law Institute’s (ALI) Restatement of the Law, Liability Insurance.
The Workers’ Compensation Insurance Committee continued discussion of an NCOIL Workers’ Compensation Drug Formulary Model Act; the Special Committee on Natural Disaster Recovery discussed development of a model law relating to the private flood insurance market; the Joint State-Federal Relations and International Insurance Issues Committee continued discussion about the development of an NCOIL Insurance Business Transfer Model Act and amendments to the NCOIL Market Conduct Surveillance Model Law; the Financial Services & Multi-Lines Issues Committee continued discussion on the development of model legislation relating to insurance modernization initiatives including rebate reforms, and an Insurance E-Commerce Model Act; the Health Insurance and Long Term Care Issues Committee continued discussion of a draft Model Law on Drug Pricing Transparency and began discussions regarding the development of possible model legislation concerning short term limited duration insurance and health care sharing ministries. Discussions of these proposals will continue during interim committee calls and at the 2019 Annual Meeting in Austin, TX.
Jim Parker, Senior Advisor for Health Reform to the Secretary of Health and Human Services delivered a compelling Keynote Luncheon Address.
Two staff training sessions took place at the Summer Meeting in conjunction with the Institutes Griffith Insurance Education Foundation entitled: “Essential Education for Legislative Staff: Exploring Risk Management & Insurance Regulation Fundamentals”.
“Since there is much work that remains, there will likely be multiple committees that have interim committee calls before the Annual Meeting in December.” Considine concluded.
Committee meeting minutes will be posted within the next week at ncoil.org.
The 2019 NCOIL Annual Meeting will take place in Austin, TX from December 10th – 13th. Registration will open in September.
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NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators serving on their states’ insurance and financial institutions committees. NCOIL writes Model Laws in insurance and financial services, works to preserve the State jurisdiction over insurance as established by the McCarran-Ferguson Act seventy-four years ago, and to serve as an educational forum for public policymakers and interested parties. Founded in 1969, NCOIL works to assert the prerogative of legislators in making State policy when it comes to insurance and educate State legislators on current and longstanding insurance issues.