Manasquan, NJ – Louisiana Senator Dan “Blade” Morrish and Commissioner Tom Considine, NCOIL CEO, reacted to the Senate Banking Committee hearing this week regarding the reauthorization of the terrorism risk insurance program (TRIA).

“I appreciate Chairman Crapo and the Senate Banking Committee for starting the TRIA reauthorization dialogue far in advance of the expiration at the end of next year” said Morrish. “This program is vital to every state, and Congress should reauthorize it well in advance of the deadline and for as long a duration as possible.”

“TRIA provides a significant backstop and is the one area where the federal government is in a unique position to provide a value-added solution in insurance” said Considine. “I will repeat what I recently stated about the NFIP, TRIA also will be high on our list of discussion items with Congress when NCOIL legislators meet with their federal counterparts this fall.”

Morrish concluded “I agree with Ranking Member Sherrod Brown’s opening remarks during the committee that the Terrorism Risk Insurance Program is emblematic of our ability to use government to make the economy work for everybody, especially during the most difficult of times.”

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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.

NCOIL Praises Committee Passage of Long Term NFIP Bill

For Immediate Release
June 14, 2019
Contact: Paul Penna
(732) 201-4133

NCOIL PRAISES COMMITTEE PASSAGE OF LONG TERM NFIP BILL
Bipartisan Effort is a Positive First Step

Manasquan, NJ – Louisiana Senator Dan “Blade” Morrish, NCOIL President, reacted to the unanimous passage of HR 3167, The National Flood Insurance Program Reauthorization Act of 2019 by the House Financial Services Committee.

“Just last week I urged Congress and the President to come together to find a long-term solution to the NFIP. Unanimous passage last night of HR 3167 by the House Financial Services Committee is a positive first step. I urge the full House and Senate to follow suit and ask President Trump to sign this needed long term flood insurance program.”

Commissioner Tom Considine, NCOIL CEO, reacted to the passage of the bipartisan legislation that provides a five-year reauthorization of the NFIP introduced by House Financial Services Committee Chair Rep. Maxine Waters (CA) and supported by Ranking Member Rep. Patrick McHenry (NC):

“This bipartisan effort is a glimmer of hope for a congress and president that seem deeply divided on most issues. NCOIL will continue to raise this issue until it is passed by both houses of congress and signed by the President.”

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NCOIL Urges Passage of Long-Term NFIP Legislation

For Immediate Release
June 10, 2019
Contact: Paul Penna
(732) 201-4133

NCOIL URGES PASSAGE OF LONG-TERM NFIP LEGISLATION
Continuing Short Term Reauthorizations Undermine Stability of Market

Manasquan, NJ – Louisiana Senator Dan “Blade” Morrish, NCOIL President, issued the following statement regarding the extension of the National Flood Insurance Program (NFIP) until September 30 that was included in the $19.1 billion Disaster Relief Legislation signed by President Trump:

“As past NCOIL Presidents have been saying for many years now, Congress and the President need to come together to find a long-term solution to the NFIP. Kicking the can down the road with perpetual short-term extensions is no way to ensure consumers are protected and does not create an environment for the private market to work in tandem with the NFIP. I urge both branches to embrace a multi-year reauthorization.”

Commissioner Tom Considine, NCOIL CEO, reacted to introduction of bipartisan legislation that provides a five-year reauthorization of the NFIP introduced by House Financial Services Committee Chair Rep. Maxine Waters (CA) and supported by Ranking Member Rep. Patrick McHenry (NC):

“We urge both houses of Congress to support this bipartisan effort that aims for stability of the NFIP, availability of affordable flood coverage, and growth of the private flood insurance market. If it is not passed by this fall this will be very high on the list of issues discussed when NCOIL legislators visit their federal counterparts.”

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Morrish Appoints Sawyer as Chair of Special Committee on Natural Disaster Recovery

For Immediate Release
June 6, 2019
Contact: Paul Penna
(732) 201-4133

MORRISH APPOINTS SAWYER AS CHAIR OF SPECIAL COMMITTEE ON NATURAL DISASTER RECOVERY
NC Senator to Oversee Committee for Duration of Year

Manasquan, NJ – During the NCOIL Special Committee on Natural Disaster Recovery interim committee call on Monday, Louisiana Senator Dan “Blade” Morrish, NCOIL President, announced that he has appointed North Carolina Senator Vickie Sawyer as Chair of the committee.

“I am pleased that Senator Sawyer is willing to serve as Chair of this important special committee” said Morrish. “She will help develop and update the NCOIL State Flood Disaster and Mitigation Relief Model Act that will serve states well in my estimation.”

“It is an exciting opportunity to serve as Chair of this Committee” said Sawyer. “As an insurance agent, state Senator and a North Carolina resident, I see all too often that we need solutions to help communities after a natural disaster.”

The committee heard from legislators and interested parties on the best course of action regarding the private flood insurance market. The committee will meet again in person at the NCOIL National Summer Meeting in Newport Beach, CA from July 10th – 13th
.
“Senator Sawyer is a welcome addition to the NCOIL leadership team” said Commissioner Tom Considine, NCOIL CEO. “She will bring unique insights and talents to help develop solutions.”

“I am pleased that our recruiting efforts brought North Carolina to participate as an NCOIL Contributing State beginning last year and legislators like Senator Sawyer to participate.” Considine concluded.

Senator Sawyer’s biography is below.

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Senator Vickie Sawyer (NC-34) (Iredell, Yadkin)

Senator Vickie Sawyer currently serves as Senator to the 34th Senate district of North Carolina representing Iredell and Yadkin counties. Prior to serving the 34th district, Senator Sawyer was appointed in August, 2018 to represent the 44th Senate district of North Carolina after Republican activists picked her to complete the two-year term of Sen. David Curtis.

Senator Sawyer is a licensed insurance agent. An active member of her community, Sawyer formerly served as Treasurer of the Iredell County Republican Party among other various civic and church activities.

She is a graduate of UNC-Charlotte where she received a B.A. in Special Education. Senator Sawyer currently resides in Mooresville, NC with her husband Brett and their two daughters, Sydney and Braedy.

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.

Federal Insurance Office Director Steven Seitz to Address NCOIL

For Immediate Release
May 20, 2019
Contact: Paul Penna
(732) 201-4133

FEDERAL INSURANCE OFFICE DIRECTOR STEVEN SEITZ TO ADDRESS NCOIL
Discusses FIO Priorities and State and International Regulatory Interaction

Manasquan, NJ – Commissioner Tom Considine, NCOIL CEO announced that Steven Seitz, Director of the Federal Insurance Office, will participate at the 2019 NCOIL National Summer Meeting in Newport Beach, CA.

“We are excited to hear from Director Seitz about his priorities for the Federal Insurance Office and how NCOIL can partner with the FIO to strengthen state-based regulation of insurance” said Considine. “Having the Director hear directly from NCOIL legislators at the Summer Meeting informs his work and approach and we appreciate his willingness to make the time for NCOIL.”

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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.

NCOIL President Announces Four Part Legislative Staff Training

For Immediate Release
April 22, 2019
Contact: Paul Penna
(732) 201-4133

NCOIL PRESIDENT ANNOUNCES FOUR PART LEGISLATIVE STAFF TRAINING
Educate Staff about Risk Management and Insurance

Manasquan, NJ – In collaboration with The Institutes Griffith Insurance Education Foundation, the National Council of Insurance Legislators (NCOIL) is pleased to announce a new four-part “Fundamentals of Insurance for Legislative Staff” training program.

“An NCOIL staff training program in collaboration with The Institutes Griffith Foundation is a natural extension of the work we’ve done together to educate legislators” said LA. Sen. Dan “Blade” Morrish, NCOIL President. “Like myself, so many legislators are term limited and this program is a resource so staff understands insurance public policy when legislators with long insurance committee service are termed-out and retire.”

The non-partisan, non-advocative program will consist of an introductory webinar on May 14th at 2 pm ET, two in-person trainings at the 2019 NCOIL Summer Meeting in Newport Beach, CA on July 12th, and a concluding webinar in the fall. The schedule is below:

Session I – Risk Management and Insurance Overview for Public Policymakers: Examining the application, social utility, and fundamental workings of RMI. This 90-minute webinar is on May 14 at 2:00 p.m. ET. Please register here –
https://griffithfoundationwevents.webex.com/griffithfoundationwevents/onstage/g.php?MTID=eff0a07bd921281347ca0058ea8372b3c.

Session II – Understanding the Risk Management process: Exploring risk management techniques, products and pricing. In person training on July 12th at the 2019 Summer Meeting.

Session III – Analyzing and Evaluating Emerging Trends and Risks: Viewed through the lens of the risk management process for Public Policymakers. In person training on July 12th at the 2019 Summer Meeting.

Session IV – Understanding Insurance Regulation and Legislation: Discussing our U.S. based system. Webinar on September 16th. Link to be provided closer to the event.

“In addition to this staff training participation, NCOIL and The Institutes Griffith Foundation will continue to partner to educate legislators” said Commissioner Tom Considine, NCOIL CEO. “Each year this collaborative relationship becomes more productive in educating public policymakers, and now staff.”

“The Institutes Griffith Foundation is pleased to collaborate with NCOIL on this four-part series,” said Frank Paul Tomasello, Senior Director at the Institutes Griffith Foundation. “At the core of this effort is a commitment to delivering unbiased educational offerings that inform public policymakers’ staff.”

NCOIL and The Institutes Griffith Foundation have collaborated to educate policy makers for more than two decades. In recent years, the collaborative effort has included educational webinars and inperson training programs at NCOIL meetings.

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 is celebrating its 50th year working 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.

The Institutes Griffith Insurance Education Foundation is a 501(c)(3) not-for-profit, non-advocative educational organization dedicated to providing unbiased information about risk management and insurance through educational programs targeting students and public policymakers. The Griffith Foundation is affiliated with The Institutes, the leader in delivering proven knowledge solutions that drive powerful business results for the risk management and property-casualty insurance industry.

For more information, visit GriffithFoundation.org.

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Considine Discusses Protection Gap in Property Insurance

For Immediate Release
April 16, 2019
Contact: Paul Penna
(732) 201-4133

CONSIDINE DISCUSSES PROTECTION GAP IN PROPERTY INSURANCE
Discusses Possible Solutions

Manasquan, NJ – Commissioner Tom Considine, NCOIL CEO participated in the Rutgers Center for Risk and Responsibility at Rutgers Law School Conference on The Protection Gap in Property Insurance in residential and commercial property losses and related types of losses in the United States.

“As NCOIL CEO, and a former state insurance regulator I bring a unique perspective at policy conferences that highlight challenges that could be solved through sound public policy” said Considine. “The protection gap has tremendous ramifications for policyholders, insurance companies and communities.”

Considine participated in the panel entitled “What Cures are there for Protection Gaps?” with Prof. Jay Feinman, Rutgers Law School; Laura Foggan, Crowell & Moring; Prof. Robert Schindler, Rutgers School of Business-Camden; Prof. Harold Weston, Georgia State University; and Sherilyn Pastor, McCarter & English.

The protection gap is the difference between losses that are insured and losses that could or should be insured. The property insurance protection gap can have significant impact on individuals and communities; a property owner who does not have flood insurance may lack the resources to rebuild after a hurricane, for example, and if many property owners lack insurance, an entire community may be hard-pressed to recover.

Although the conference was geared toward the protection gap in property insurance, a number of panelists mentioned the staggering protection gap in life insurance coverage. Considine discussed how the life insurance protection gap is not consistent internationally, noting that life insurance coverage in Japan, for example, is far more extensive than in the US.

Background about the protection gap from the event: What is a protection gap? What protection gaps exist in property insurance and what causes them? Some examples:

• An entity is entirely uninsured or insurance is unavailable. This is rare in property insurance in the US, with the notable and high-profile exception of Puerto Rico, which came to light after Hurricane Maria.

• Insured, but certain perils not covered. Homeowners insurance policies exclude coverage for losses caused by natural disasters such as flood or earthquake, and many homeowners fail to purchase available catastrophe insurance.

• Under-insured. Three of every five homes in America are underinsured by an average of 20 percent less than full value, according to analytics firm CoreLogic.

• Other exclusions or restrictions on coverage. Many homeowners and commercial property policies contain hurricane deductibles or windstorm deductibles, restrictive loss settlement provisions, or other limitations of which policyholders may be unaware.

What solutions are there for protection gaps? Some examples:

• Legislators and regulators can require information disclosures and prescribe policy terms to ensure adequate coverage. In the wake of the California wildfires, the legislature enacted a series of reforms aimed at improving consumer understanding and better coverage for homeowners.

• Insurers and intermediaries can innovate products and marketing and can reduce costs to increase availability of coverage and consumer awareness. Insurtech, on-demand insurance, and parametric insurance are being offered as solutions to protection gaps.

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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.

NCOIL President Applauds National Retirement Planning Week

For Immediate Release
April 9, 2019
Contact: Paul Penna
(732) 201-4133

NCOIL PRESIDENT APPLAUDS NATIONAL RETIREMENT PLANNING WEEK
Urges All Americans to Save for Their Retirement Every Payday

Manasquan, NJ – LA Senator Dan “Blade” Morrish, NCOIL President, applauded the recognition of this week as National Retirement Planning Week:

“As someone who is closer to retirement than the beginning of my career, I recognize that sound retirement planning contributes significantly to the quality of life for Americans. As NCOIL President, I applaud National Retirement Planning Week and encourage all Americans to plan and save appropriately so their golden years are just that.”

NCOIL routinely discusses retirement issues. At the 2018 NCOIL Summer Meeting in July the Life Insurance & Financial Planning Committee heard a presentation on industry trends in retirement planning, and at the 2018 NCOIL Annual Meeting in December, the same Committee heard a presentation on the impact of President Trump’s Executive Order on Strengthening Retirement Security in America.

Morrish concluded “Because of sound planning, my wife and I can travel, visit our children and grandchildren and enjoy this important time in our lives.”

More information can be found here – https://www.retireonyourterms.org/NRPW and facts about retirement planning can be found here – https://www.retireonyourterms.org/docs/default-source/actioncenter-resources/nnlrtrmntplanweek_toolkit.

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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.

NCOIL Passes Resolution in Support of Good Samaritans’ Efforts to Prevent Opioid Overdose

For Immediate Release
April 8, 2019
Contact: Paul Penna
(732) 201-4133

NCOIL PASSES RESOLUTION IN SUPPORT OF GOOD SAMARITANS’ EFFORTS TO PREVENT OPIOID OVERDOSE
Urges Life Insurers to Review Policy Application Processes

Manasquan, NJ – During the 2019 NCOIL Spring Meeting, the organization passed a Resolution sponsored by NY Asw. Pamela Hunter, Chair of the NCOIL Health Insurance and Long Term Care Issues Committee, in Support of Good Samaritans’ Efforts to Prevent Loss of Life Due to Opioid Overdose. The measure passed on a voice vote without objection.

“The opioid crisis affects all Americans in some way. First responders or Good Samaritans should not be adversely rated when applying for life insurance solely for having a prescription for Narcan” said NY Asw. Pamela Hunter, “The use of opioid overdose-reversing drugs such as Narcan have been promoted by many as a vital part of the public health response to combat the opioid crisis.”

NCOIL became aware of instances in which applicants for life insurance were denied coverage for carrying Narcan, even in states with “Standing Orders” that apply to the entire population so as to facilitate the presence of overdose-reversing medication in society.

Accordingly, the resolution urges life insurers to review their current policy application review procedures/guidelines and if necessary make appropriate changes so that no applicants are denied coverage solely for having a prescription for Narcan, and so that life insurers can identify applicants who obtained a supply of Narcan because of their role as medical professionals, first responders, Good Samaritans or family members.

“This is an issue that legislators, regulators and insurance trade groups publicly support” said LA Sen. Dan “Blade” Morrish, NCOIL President. “I was pleased that both SC Insurance Director Farmer and ACLI representatives testified in support of the resolution.”

“A key part of NCOIL’s mission is to ensure that consumers are protected” said Commissioner Tom Considine, NCOIL CEO. “This resolution, and its unanimous support shows that NCOIL seeks out issues consistent with that mission.”

A full copy of the resolution is below.

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RESOLUTION IN SUPPORT OF GOOD SAMARITANS’ EFFORTS TO PREVENT LOSS OF LIFE DUE TO OPIOID OVERDOSE
Sponsored by Asw. Pam Hunter (NY)
Adopted by the Life Insurance & Financial Planning Committee on March 16th, 2019 and affirmed by the Executive Committee on March 17th, 2019.

WHEREAS, the opioid crisis has claimed the lives of hundreds of thousands of Americans, and, on average, 130 Americans die every day from an opioid-related overdose; and

WHEREAS, as a result, the opioid crisis was declared a national Public Health Emergency by the President of the United States and consequently, the U.S. Department of Health and Human Services; and

WHEREAS, the use of proven opioid overdose-reversing drugs such as Naloxone – frequently referred to by its brand name Narcan – have been promoted by many as a vital part of the public health response to combat the opioid crisis, including the U.S. Surgeon General; and

WHEREAS, states have recognized the importance of increasing accessibility of Narcan by issuing “Standing Orders” which permit Narcan to be sold over-the-counter at a pharmacy without an individual prescription to people who meet certain criteria so that they can be in a position to save others, whether it be family members, friends, co-workers, or even strangers; and

WHEREAS, NCOIL has become aware of certain instances where applicants for life insurance have been denied coverage for carrying Narcan, even in states with “Standing Orders”; and

WHEREAS, while NCOIL understands that applying for and issuing life insurance is a detailed riskassessment process, of which an applicant’s use of prescription drugs is a part, no applicant should be denied coverage solely for carrying Narcan; and

WHEREAS, NOW, THEREFORE BE IT RESOLVED, that NCOIL supports the use of Narcan by good Samaritans to prevent the loss of life from an opioid overdose; and

WHEREAS, NOW, THEREFORE, BE IT FURTHER RESOLVED, that NCOIL urges life insurers to review accordingly their current policy application review procedures/guidelines and if necessary make appropriate changes so that no applicants are denied coverage solely for having a prescription for Narcan, and so that life insurers can identify applicants who obtained a supply of Narcan because of their role as medical professionals or first responders or Good Samaritans in a state with a “Standing Order”; and

WHEREAS, BE IT FINALLY RESOLVED, that a copy of this Resolution shall be distributed to the American Council of Life Insurers (ACLI); the National Association of Insurance Commissioners (NAIC); the members of the U.S. House Financial Services Committee; the members of the Senate Banking Committee; and the Chairs of the Committees of insurance jurisdiction in each Legislative Chamber of each State.