For Immediate Release
October 1, 2020
Contact: Tom Considine
NCOIL CONCLUDES SUCCESSFUL HYBRID 2020 “SUMMER” MEETING IN ALEXANDRIA
Three New Model Laws Adopted, Continued Timely Policy Discussion
Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) concluded a successful 2020 “Summer” Meeting at the Hilton Alexandria Old Town in Alexandria, Virginia. This meeting was the first ever hybrid meeting – allowing both in-person and virtual participation. There were 219 total registered attendees – 91 in-person and 128 virtual – consisting of 30 legislators from 16 states, one first-time legislator, 5 Insurance Commissioners (or equivalent), and 9 insurance departments represented. The seven policy committees all met, as well as the Special Committee on Natural Disaster Recovery.
NCOIL President Matt Lehman (Rep. – IN) stated, “I am very pleased with the high attendance of both in-person and virtual participants, all things considered. Although different, this meeting was as successful as any other NCOIL meeting. Thank you to everyone for their continued dedication to NCOIL.”
Participants at the Welcome Breakfast were greeted by VA Insurance Commissioner Scott White, followed by remarks from Steve Livengood – Director of Public Programs and Chief Guide at the Capitol Historical Society. Additionally, during the all-attendee breakfast, President Lehman announced the creation of a Special Committee on Race and Insurance Underwriting to be chaired by NCOIL Past President Neil Breslin (Sen. – NY). Frank Donnatelli – who served in various positions in the Reagan administration including Assistant to the President for Political and Intergovernmental Affairs Deputy Assistant to the President for Public Liaison – delivered the Keynote address during the luncheon.
The agenda was highlighted by the adoption of four NCOIL Model Laws – the NCOIL Private Primary Residential Flood Insurance Model Act by the Special Committee on Natural Disaster Recovery, sponsored by NC Sen. Vickie Sawyer and FL Rep. David Santiago; the NCOIL Model Act Concerning Statutory Thresholds for Settlements Involving Minors by the Financial Services & Multi-Lines Issues Committee, sponsored by TX Rep. Tom Oliverson, M.D. and KY Rep. Joe Fischer – NCOIL Secretary; and the NCOIL Short Term Limited Duration Insurance Model Act by the Health Insurance & Long-Term Care Issues Committee, sponsored by IN Rep. Martin Carbaugh.
There were two fascinating and timely general sessions: “COVID-19: Testing, Treatment, and Vaccination”; and “Future Pandemics: Approaches to Dealing with Business Interruptions”.
“I was very pleased to moderate the general session on COVID-19 testing, treatment and vaccination developments,” said Rep. Oliverson, Chair of the NCOIL Workers’ Compensation Insurance Committee. “It was very beneficial to hear the latest on where we are at in terms of getting a vaccine ready for widespread distribution, as well as what has and hasn’t worked best in testing for and treating the virus.”
“Business interruption coverage has been one of the most important issues facing the economy throughout the past several months,” said MN Sen. Paul Utke – Vice Chair of the NCOIL Workers’ Compensation Insurance Committee and moderator of the business interruption general session. “There is still a lot of work to be done to ensure that both consumers and the industry are better protected in any future pandemics, but the general session made clear that everyone is working tirelessly to develop solutions.”
“Thank you to Commissioner White for being a wonderful host to us in Old Town,” NCOIL CEO, Commissioner Tom Considine said. “There was a great deal of business we were able to conduct by making this a hybrid conference. Although we are still operating far from normal, NCOIL has remained very active since we last convened in Charlotte for the Spring Meeting. I believe ours was the last in-person national meeting before the COVID shutdown, and I am proud that NCOIL was the first large organization to host a national meeting with significant inperson participation as the nation returns to normal,” he continued.
“I am very happy that I could see so many familiar faces safe and healthy in Alexandria. Hopefully, we will be fully back together in Tampa for the December meeting,” Considine concluded.
The Joint State-Federal Relations met to discuss Europe’s Insurance Regulatory Response to COVID-19 with Matt Brewis, Director of General Insurance and Conduct Specialists at the Financial Conduct Authority (FCA) speaking to the attendees via Zoom from the U.K. The Committee also heard a presentation on “Federal Response to Dynamex: Discussion on U.S. Department of Labor Employee Classification Regulation” by James Paretti, Jr., Shareholder at Littler Mendelson P.C., and Joe Capurro, President of the California Applicants Attorneys Association (CAAA).
The Workers’ Compensation Insurance Committee heard a presentation titled “State of the Line” – An Update on the Status of and Trends in the Workers’ Compensation Insurance Marketplace with Jeff Eddinger, Senior Division Executive of Regulatory Business Management for the National Council on Compensation Insurance (NCCI). Dr. Richard Victor, Sedgwick Fellow at the Sedgwick Institute, gave a presentation titled “Scenarios for the 2030s: Threats and Opportunities for Workers’ Compensation Systems.”
The Committee also received an update on State COVID-19 Workers’ Compensation Presumption Executive Orders/Statutes/Regulations from Jason Marcus, Legislative Chair for CAAA; Erin Collins, Vice President of State Affairs for the National Association of Mutual Insurance Companies (NAMIC); and Frank O’Brien, Vice President of State Government Relations for the American Property Casualty Insurance Association (APCIA).
The NCOIL-NAIC Dialogue consisted of an update on State Adoption of Amended NAIC Credit for Reinsurance Models, a discussion on NAIC’s Casualty Actuarial and Statistical Task Force (CASTF), a discussion on NAIC Climate and Resiliency (EX) Task Force, a discussion on the NAIC’s position on pandemic business interruption issues and the NAIC’s business interruption COVID-19 data call, and a discussion on proposed changes to SSAP No. 71.
In addition to the adoption of the NCOIL Model Act Concerning Statutory Thresholds for Settlements Involving Minors, the Financial Services & Multi-Lines Issues Committee discussed the introduction of the NCOIL Insurer Division Model Act, sponsored by CT Sen. Matt Lesser.
The Life Insurance & Financial Planning Committee heard a presentation from Kweilin Ellingrud, Leader of Life and Annuities Practice in North America & Senior Partner at McKinsey & Company on “COVID-19 and the Insurance Industry – Not Just a P&C Issue”. The Committee also heard an educational presentation on life insurance settlements.
In addition to the adoption of the NCOIL Short Term Limited Duration Insurance Model Act, the Health Insurance & Long-Term Care Issues Committee discussed the introduction of the NCOIL Telemedicine Authorization and Reimbursement Model Act, sponsored by NY Asw. Pam Hunter, Chair of the Committee. The Committee continued discussion on the NCOIL Transparency in Dental Benefits Contracting Model Act, sponsored by AR Rep. Deborah Ferguson, Vice Chair of the Committee, and ND Rep. George Keiser; and the NCOIL Vision Care Services Model Act, sponsored by OH Sen. Bob Hackett.
Committee minutes will be posted within the next week at www.ncoil.org. Discussions on model laws will continue during the 2020 Annual Meeting in Tampa, Florida, and possible interim committee calls beforehand. The NCOIL Annual Meeting will take place from December 9th – 12th.
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-five 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.