NCOIL Prepares For 2021 Spring Meeting

 

For Immediate Release
January 19, 2021
Contact: Tess Badenhausen
(732) 201-4133

NCOIL PREPARES FOR 2021 SPRING MEETING
Spring Meeting Moved From March to April 15–18; Provides Time for Vaccine to Take Root; Location Under Review; Comments Welcomed on Four Model Laws up for Re-adoption

Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) announced today its decision to delay the Spring National Meeting from March to April 15 – 18. Additionally, the meeting will be moved from Washington, D.C. This decision was made in large part due to the strict in-person gathering limits currently in place in Washington, D.C. which made holding a conference there unworkable. Additionally, the later dates will allow more time for the COVID vaccine to take root. The new location for the April meeting will be announced within the next two weeks. The meeting will again by a hybrid format allowing for both in-person and virtual participation via Zoom.

NCOIL CEO, Commissioner Tom Considine said, “We feel that this is the best decision, as we do not want to rush into anything if we don’t have to. By moving the meeting to April, it will give us time to find a safe location that can accommodate our group’s needs. We also believe that companies and organizations may be more inclined to let their employees travel after the first quarter as the vaccine will be more widely distributed by then. The meeting will again be in a hybrid format and we are confident that our Spring Meeting will be a success.”

Additionally, there are four NCOIL Model Laws scheduled for re-adoption at the Spring Meeting. Per NCOIL Bylaws, all NCOIL Model Laws are scheduled to either be re-adopted or sunset every five years.

There are three laws up for re-adoption under the Life Insurance & Financial Planning Committee:

  • Beneficiaries’ Bill of Rights (regarding retained asset accounts). Originally adopted on 11/21/10 and readopted on 2/28/16. The Model can be viewed here: http://ncoil.org/wpcontent/uploads/2021/01/Beneficiaries-Bill-of-Rights-Model-1-15-21.pdf
  • Life Insurance Consumer Disclosure Model Act. Originally adopted on 11/21/10 and readopted on 2/28/16. The Model can be viewed here: http://ncoil.org/wpcontent/uploads/2021/01/Life-Insurance-Consumer-Disclosure-Model-1-15-21.pdf
  • Long Term Care Tax Credit Model Act. Originally adopted on 7/10/98 and readopted on 3/2/01, 7/11/03, 3/4/05, 3/7/10, and 2/28/16. The Model can be viewed here: http://ncoil.org/wp-content/uploads/2021/01/LTC-Tax-Credit-Model-1-15-21.pdf

There is one Model Law up for re-adoption under the Health Insurance & Long Term Care Issues Committee:

  • Employer Sponsored Group Disability Income Protection Model Act. Originally adopted 11/20/16. The Model can be viewed here: http://ncoil.org/wpcontent/uploads/2021/01/Employer-Sponsored-Group-Disability-Income-ProtectionModel-1-15-21.pdf

Legislators and interested parties are encouraged to provide any comments on the abovementioned Models in advance of the Spring Meeting. Please submit any comments to NCOIL General Counsel Will Melofchik at wmelofchik@ncoil.org

Cmsr. Considine stated “NCOIL Model Laws are always improved by feedback from legislators across the country and interested parties with different perspectives. After a Model Law is adopted, things can certainly change in a way that warrant changes to the Model, or perhaps even rendering the Model unnecessary. We welcome comments on the Models scheduled for readoption at the Spring Meeting to ensure that those Models are put on the best path going forward.

Committee meeting minutes from the 2020 Annual Meeting are posted here – http://ncoil.org/2020-annual-meeting-minutes-tampa-florida/

Recordings of all meetings and sessions are posted on the NCOIL YouTube Channel here – https://www.youtube.com/channel/UCe09Z77z4q6HG1kv3fDG7Bg

Registration for the 2021 NCOIL Spring Meeting will open once the location is finalized.

-30-

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.