NCOIL Concludes Successful Hybrid 2021 Summer Meeting in Boston, MA

 

For Immediate Release
July 23, 2021
Contact: Tess Badenhausen
(732) 201-4133

NCOIL CONCLUDES SUCCESSFUL HYBRID 2021 SUMMER MEETING IN BOSTON, MA
Massachusetts Governor Charlie Baker Delivered Keynote Address; Five Model Laws Re-Adopted

Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) concluded a successful hybrid 2021 Summer National Meeting (Meeting) in Boston, MA on July 17th at the Westin Boston Waterfront. 350 total attendees participated in the Summer Meeting – 273 in person and 77 virtually consisting of 68 legislators from 29 states, 28 first time legislators, 5 Insurance Commissioners (or equivalent), and 12 insurance departments. The seven policy Committees all met, as well as the fifth and final meeting of the Special Committee on Race in Insurance Underwriting.

NCOIL President, Indiana Rep. Matt Lehman said, “I couldn’t be happier to see the number of people who decided to attend this meeting in person. Things felt like they were beginning to get back to normal during our Spring Meeting in Charleston, and this meeting confirms it. People are ready to see each other in person and discuss important issues face to face. I have high hopes for our Annual Meeting returning fully back to normalcy.”

NCOIL CEO, Commissioner Tom Considine said, “Boston was a spectacular location for our Summer Meeting, and attendees really enjoyed the city. We were so pleased with Massachusetts Governor Charlie Baker’s Keynote Address and I know that everyone really enjoyed hearing from him.” Considine continued, “This Meeting also had an extremely high number of first-time legislators. As an organization that is comprised of legislators, we were thrilled to see the number of legislators who chose to attend their first NCOIL Meeting. The way for us to continue to grow
is by having dedicated legislators attend our meetings and engage in important insurance public policy discussions.”

The Meeting began with the Audit and Budget Committee Meetings on Wednesday afternoon, followed by the Welcome Breakfast where participants were greeted by Dominick Ianno, Head of State Government Relations at MassMutual.

After the Welcome Breakfast, the Workers’ Compensation Insurance Committee heard from Jeff Eddinger, Executive Director, Regulatory Business Management at the National Council on Compensation Insurance (NCCI) who delivered a “State of the Line” presentation focusing on the status of and trends in the workers’ compensation insurance marketplace; and from Steve Wurzelbacher, PhD, CPE, ARM, Director – Center for Workers’ Compensation Studies (CWCS), National Institute for Occupational Safety and Health (NIOSH), Centers for Disease Control and Prevention (CDC), who delivered a presentation titled “Using Workers’ Compensation Data and Systems to Improve Safety and Health.” The Committee also re-adopted the following Model Laws: Trucking/Messenger Courier Industries Workers’ Comp Model Act; Model Agreement Between Jurisdictions to Govern Coordination of Claims and Coverage; Model State Structured Settlement Protection Act (NSSTA/NASP Compromise Model.

The Institutes Griffith Foundation hosted a legislator luncheon during which Dr. Brad Karl, Distinguished Associate Professor in Risk Management & Insurance and the Chair of the Department of Finance & Insurance in the College of Business at East Carolina University, delivered a presentation titled “Surplus Lines Insurers: A Market Outside the Regulated Market.”.

The Special Committee on Race in Insurance Underwriting, Chaired by New York Senator Neil Breslin, adopted three resolutions: Resolution Regarding the Use of Certain Rating Factors; Resolution Regarding the Use of Artificial Intelligence in Underwriting; Resolution Regarding Insurance Score Transparency. The Resolutions focused on artificial intelligence and insurance score transparency refer certain issues to NCOIL standing policy committees. Having met its charges, the Committee now sunsets pursuant to NCOIL bylaws.

Senator Breslin said, “The Committee has made great progress since its inception, and I am very proud of all of its hard work. Since its first meeting in December, the Committee heard differing perspectives from numerous speakers on extremely important issues. While the Committee now sunsets, several of the issues the Committee discussed will now be referred to standing NCOIL policy committees for further discussion and possible development of NCOIL model laws. I look forward to being involved in those conversations.”

The Joint State-Federal Relations & International Insurance Issues Committee heard from Roderick Scott, Board Chair of the Flood Mitigation Industry Association who led a panel discussion on developing a potential NCOIL model law focused on the implementation of the federal Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act. The Committee also heard from Tony Hake of the Federal Emergency Management Agency (FEMA) on its new rating methodology for the National Flood Insurance Program- Risk Rating 2.0: Equity in Action. Catherine Fisk, Barbara Nachtrieb Armstrong Professor of Law at UC Berkley School of Law, and representatives from the National Association of Insurance and Financial Advisors (NAIFA) also briefed the Committee on the federal Protecting the Right to Organize (PRO) Act (H.R. 842/S.420).

The day concluded with the Life Insurance & Financial Planning Committee meeting where the Hon. Mary Jo Hudson, Partner at Squire, Patton, Boggs and Former Ohio Insurance Director, and Karen Schutter, Executive Director of the Interstate Insurance Product Regulation Commission (IIPRC), briefed the Committee on IIPRC developments; Bradford Campbell, Partner at Faegre, Drinker, Biddle & Reath, LLP discussed federal retirement initiatives; and Peter Gallanis, President of the National Organization of Life & Health Guaranty Associations (NOLHGA) provided an update on the status and future of life and health insurance guaranty associations.

Friday began with the meeting of Financial Services & Multi-Lines Issues Committee. The Committee: further discussed the pending Remote Notarization Model Law, sponsored by LA Rep. Edmond Jordan, Chair of the Committee; heard from Richard Smith, President of the Vermont Captive Insurance Association, Sandy Bigglestone, Director of the Vermont Insurance Department’s Captive Insurance Division, and Dave Provost, Deputy Commissioner of the Vermont Insurance Department’s Captive Insurance Division, on Vermont’s globally successful captive insurance market and how it relates to the pending NCOIL Uniform Captive Insurer Model Act, sponsored by Sen. Jason Rapert (AR), NCOIL Immediate Past President; and heard an update on state insurance regulatory sandboxes.

The NCOIL-NAIC Dialogue was very productive and included Idaho Insurance Director and NAIC President-Elect Dean Cameron, Oklahoma Insurance Cmsr. Glen Mulready, and Mississippi Insurance Cmsr. Mike Chaney. The dialogue included discussion on Environmental, Social, and Governance Issues which consisted of updates on the NAIC Special Committee on Race in Insurance and Regulating Climate Change Risks. There was also a discussion on the International Monetary Fund 2020 Financial Sector Assessment Program Review of the US Financial Regulatory System, and the Federal Insurance Office’s (FIO) request for information (RFI) regarding the personal auto insurance market.

MA Rep. Jamie Murphy introduced Massachusetts Governor Charlie Baker, who delivered the Keynote Address at Saturday’s luncheon. Governor Baker spoke on the efforts that Massachusetts took to ensure its citizens were prepared to tackle COVID-19, including borrowing the New England Patriot’s private jet to transport three million masks from China, through Alaska and back to Boston. He also spoke on the importance of state-based government and regulatory policies, and the value of bi-partisanship.

The day concluded with the Property & Casualty Insurance Committee meeting which was very active. The Committee: heard an update on property & casualty insurance guaranty funds from National Conference of Insurance Guaranty Funds (NCIGF) representatives; discussed recently enacted post-disaster claims handling legislation sponsored by Oregon Rep. Pam Marsh, Chair, of the Oregon House Committee on Energy and Environment; discussed the warranty legislative and regulatory landscape; and re-adopted the NCOIL Property/Casualty Flex-Rating Regulatory Improvement Model Act.

The Health Insurance & Long Term Care Issues Committee was the last policy committee to meet and was very productive. Discussion continued on the NCOIL Telemedicine Authorization and Reimbursement Model Act, sponsored by Asw. Hunter, and the NCOIL Accumulator Adjustment Program Model Act, sponsored by AR Rep. Deborah Ferguson, Vice Chair of the Committee, AR Sen. Jason Rapert, ND Rep. George Keiser, and Asw. Hunter. Additionally, a panel of legal experts discussed the implications of recent litigation on the NCOIL Model Act Regarding Air Ambulance Patient Protections, sponsored by IL Rep. Thaddeus Jones; KY Rep. Deanna Frazier; TX Rep. Tom Oliverson, M.D.; and WV Del. Steve Westfall. The panel consisted of Chris Brady, General Counsel at Air Methods Corporation (AMC), Daniel Schwarcz, Fredrikson & Byron Professor of Law at the University of Minnesota Law School, and Charlotte H. Taylor, Esq., Partner at Jones Day. The Committee also re-adopted the NCOIL Employer-Sponsored Group Disability Income Protection Model Act.

There were also three interesting and timely general sessions: “Developments in Medical Treatment for Obesity”; “The Delicate Balance of Legislative Oversight”; and “Cyber Insurance: The Challenges of Ransomware and Beyond.”

The Summer Meeting concluded with the Business Planning and Executive Committee meeting. NCOIL President, Indiana Rep. Matt Lehman said, “Based on the turnout of this meeting, I continue to be optimistic that the Annual Meeting will be very close to the pre-pandemic sense of normalcy, with all attendees joining us in Scottsdale in person. Boston was full of great discussions, excellent speakers, and a really high amount of first-time legislators. I know that I am not the only one looking forward to meeting again in Arizona where the agenda will be packed with issues to discuss and model laws to develop and adopt.”

Committee meeting minutes will be posted soon at www.ncoil.org. Recordings of all meetings and sessions will also be posted on the NCOIL YouTube Channel soon. The 2021 NCOIL Annual Meeting is scheduled to take place in Scottsdale, AZ from November 17th – 20th. Registration will open in August.

-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 over seventy 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 Special Committee on Race in Insurance Underwriting Adopts Series of Resolutions

 

For Immediate Release
July 22, 2021
Contact: Tess Badenhausen
(732) 201-4133

NCOIL SPECIAL COMMITTEE ON RACE IN INSURANCE UNDERWRITING ADOPTS SERIES OF RESOLUTIONS

Resolutions Focus on Use of Certain Rating Factors, Artificial Intelligence, and Insurance Score Transparency; Committee Refers Certain Issues to NCOIL Standing Policy Committees

Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) Special Committee on Race in Insurance Underwriting (Committee) adopted three Resolutions on the topic at the NCOIL Summer Meeting (Meeting) in Boston, MA on Thursday, July 15. New York Senator Neil Breslin Chairs the Committee which was formed in September of last year.

During the Meeting, the Committee adopted unanimously three resolutions sponsored by Sen. Breslin and Indiana Representative and NCOIL President, Matt Lehman: Resolution Regarding the Use of Certain Rating Factors (Rating Factor Resolution); Resolution Regarding the Use of Artificial Intelligence in Underwriting (AI Resolution); and Resolution Regarding Insurance Score Transparency (Transparency Resolution). The NCOIL Executive Committee adopted all three Resolutions unanimously on July 17.

Having met its charges, the Committee now sunsets pursuant to NCOIL bylaws. However, the AI and Transparency Resolutions refer certain issues to NCOIL standing policy committees for further discussion and consideration.

Specifically, the AI Resolution states that while NCOIL believes that the use of AI will surpass the use of individual factors in insurance underwriting, the issue falls beyond the Committee’s charges and therefore NCOIL should undertake a review of the use of AI in insurance underwriting through the committees of jurisdiction over each line of insurance to ensure that such use is not unfairly discriminatory.

The Transparency Resolution states that consumers, policymakers, insurance producers and the insurance industry would benefit greatly from additional transparency in the development and usage of insurance scores, similar to that used for credit scores, and refers the issue to the NCOIL Property & Casualty Insurance Committee to develop a Model Law on Transparency in Insurance Scores with the goal of achieving parity with the transparency in the development and usage by lenders & credit bureaus of credit scores.

The Rating Factor Resolution puts NCOIL on record as finding that it views as contrary to public policy and unfairly discriminatory the use of all data in the underwriting of private, noncommercial insurance that is: related to non-pending arrests, charges and indictments that do not result in conviction; related to convictions that do not relate in any way to fraud; or are not related to the insurability of a prospective or existing policyholder, and urges state legislatures to prohibit its use.

Additionally, the Rating Factor Resolution states that NCOIL does not find, at this time, based on current available data, any additional factors used in the underwriting of private, noncommercial insurance to be unfairly discriminatory, but does find that they could be potentially unfairly discriminatory in their application, and NCOIL recognizes that legislatures may conclude, either today or in the future, that such rating factors should be prohibited or restricted due to public policy and fairness considerations that are deemed to outweigh the actuarial justification and predictive value such factors may possess. Further, the Rating Factor Resolution noted that NCOIL believes the review of underwriting fairness is one that States should conduct on an annual basis.

Senator Breslin said, “I am honored to have Chaired this very important Committee and am proud of the work that we have accomplished. Since being formed, we have heard from a variety of speakers, all of whom were very knowledgeable with differing opinions and viewpoints. Hearing from such a diverse group of experts enabled the Committee to produce the strongest possible work product. The three Resolutions represent a sound and fair way to simultaneously meet the Committees charges and recognize that other issues should be referred to NCOIL standing policy committees having fallen outside the Committee’s scope.”

NCOIL CEO, Commissioner Tom Considine remarked, “Representative Lehman, Senator Breslin, and the Committee members deserve a ton of credit for all of their hard work throughout the past several months. The Committee was diligent from its inception in making sure to gather as much information as possible from a wide array of sources, while at the same time being mindful of the need to complete its charges in a timely fashion. I think it’s fair to say that some Committee members would have preferred that it go farther, while others would have preferred it not go nearly as far. I think that is generally a good sign. As an organization, we will make sure to continue the critical work on the issues of AI and insurance score transparency through our standing policy committees.”

NCOIL President, IN Rep. Matt Lehman, said, “When I formally announced the creation of this Committee last September, I said that NCOIL needs to take a more active role in framing the discussions around race and insurance underwriting that can have a huge impact on both policyholders and the insurance industry as a whole. As the organization representing state insurance legislators who have proper constitutional jurisdiction over the significant public policy issues related to regulating the business of insurance, NCOIL’s voice needed to be heard.”

“Indeed,” Lehman continued, “NCOIL’s voice has been heard and the organization has been a leader the past several months in taking important action in a timely manner while making sure that all voices and perspectives are heard.”

“However, as the AI and insurance score transparency Resolutions state, just because the Committee has met its charges and completed its work, that does not mean that these issues are no longer important and need not be further examined. I am very interested in the discussions that will take place during the Property & Casualty Committee regarding the development of an insurance score transparency model law. That issue is one that I, both as a legislator and an agent, feel particularly strong about.”

The video recording from the meeting will be posted on the NCOIL website soon.

The Resolutions appear here: https://ncoil.org/special-committee-on-race-in-insurance-underwriting-2/

-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-six 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 and Special Committee on Race in Insurance Underwriting Chair Introduce Resolutions and Issue Statement

 

For Immediate Release
July 8, 2021
Contact: Tess Badenhausen
(732) 201-4133

 

NCOIL PRESIDENT AND SPECIAL COMMITTEE ON RACE IN INSURANCE UNDERWRITING CHAIR INTRODUCE RESOLUTIONS AND ISSUE STATEMENT

 

Manasquan, NJ – Senator Neil Breslin (D-NY), Chair of the NCOIL Special Committee on Race in Insurance Underwriting (Committee) and Representative Matt Lehman (R-IN), NCOIL President, introduced today a series of Resolutions for consideration by the Committee at the NCOIL Summer National Meeting in Boston next week.

The first is the “Resolution Regarding the Use of Certain Rating Factors.” The Resolution would put NCOIL on record as finding that the use of all data in the underwriting of private, non-commercial insurance that is related to non-pending arrests, charges and indictments that do not result in
conviction, or related to convictions that do not relate in any way to either fraud or to the risk being evaluated for the insurance being sought (such as arson for property insurance) rises to the level of unfair discrimination in underwriting private, non-commercial insurance products.

Additionally, through the Resolution NCOIL would find that other factors are potentially unfairly discriminatory in their application in the underwriting of private, non-commercial insurance, but does not view those factors as unfairly discriminatory at this time.

Breslin & Lehman issued the following joint statement with the introduction of the Resolutions:

“We are confident that the Resolution Regarding the Use of Certain Rating Factors represents an appropriate response from NCOIL to the sessions we held and testimony we took on the rating factors. We believe the record before the Special Committee is well developed on the use of criminal history and other factors, and indeed is well developed in the literature and the broader public record. Some may ask why we did not include additional factors specifically; the answer is that we do not believe the record is as clear on additional factors and that they are not ripe for action. While they may become ripe in time, and we think it important that States review their use annually, it is likely that by the time they fully ripen, the use of artificial intelligence will have surpassed the use of individual factors in underwriting. We urge NCOIL to study the use of Artificial Intelligence in
insurance underwriting; however, that topic fell beyond the charges to this Special Committee. We are sponsoring a companion Resolution today urging such action.”

“Indeed,” continued Breslin and Lehman, “we believe that the ‘Resolution Regarding the Use of Artificial Intelligence in Underwriting’ places a focus on the increased use of Artificial Intelligence in insurance underwriting and the need for NCOIL to gain a thorough understanding of it in the near
future to determine if legislative action is appropriate.”

“One area where we believe such action is appropriate is in the transparency surrounding the development and usage of the insurance score. In our discussions regarding insurance factors, we determined that the insurance score is a black hole compared to the transparency we see with consumers’ credit scores. We believe consumers and policymakers would be far more confident in insurers’ use of factors if such use were transparent in the development and usage of the insurance score.”

“We look forward to a lively and serious discussion of these Resolutions with our fellow legislators and interested parties,” concluded Breslin & Lehman.

The Resolutions can be viewed here: https://ncoil.org/special-committee-on-race-in-insuranceunderwriting-2/

The 2021 NCOIL Summer National Meeting is scheduled for July 14-17 at The Westin Boston Waterfront Hotel. The Meeting will be a hybrid format allowing for both in-person and virtual participation via Zoom. More information on the Meeting can be found here: https://ncoil.org/2021-ncoil-summer-meeting-registration/

 

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 over seventy 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.

– 30 –

 

NCOIL Highlights National Insurance Awareness Day

For Immediate Release
June 28, 2021
Contact: Tess Badenhausen
(732) 201-4133

NCOIL HIGHLIGHTS NATIONAL INSURANCE AWARENESS DAY
Urges Businesses and Consumers to Review Insurance Policies

Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) highlights June 28th as National Insurance Awareness Day. This day has been designated to serve as a reminder to business owners to review their insurance policies and ensure they have the coverage they need.

NCOIL President, IN Rep. Matt Lehman stated, “National Insurance Awareness Day is a great opportunity for business owners, particularly small business owners, to take a few minutes to confirm that they understand their existing coverage, and to obtain information about what needs to be insured. As more pandemic-related restrictions continue to be lifted and things return to normal, it’s important to make sure proper insurance coverage is in place.”

NCOIL CEO, Commissioner Tom Considine said, “Something as simple as making a phone call to an insurance agent has the ability to save business owners from future panic. Last year there was a historic level of storm activity which could, unfortunately, be seen again this year. It is critical for Americans to evaluate their need for flood insurance, including reviewing existing polices to make sure flood is a covered peril. In recognition of National Insurance Awareness Day, NCOIL is reminding business owners and consumers to take the time to talk to an insurance agent, review their insurance plans, or get a policy that offers the security needed to recover losses.”

More information on National Insurance Awareness Day can be found here: https://nationaltoday.com/national-insurance-awareness-day/

-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-six 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 Special Committee on Race in Insurance Underwriting Holds Virtual Interim Meeting

 

For Immediate Release
June 22, 2021
Contact: Tess Badenhausen
(732) 201-4133

NCOIL SPECIAL COMMITTEE ON RACE IN INSURANCE UNDERWRITING HOLDS VIRTUAL INTERIM MEETING
Committee Continued Discussion Whether Unfair Discrimination Exists in Certain Insurance Underwriting Factors.

Manasquan, NJ – The National Council of Insurance Legislators (NCOIL) Special Committee on Race in Insurance Underwriting (Committee) held an interim virtual meeting on Friday, June 18. New York Senator Neil Breslin chairs the Committee. This was the Committee’s fourth meeting since being formed in September of last year. Over ten hours of testimony have been provided thus far.

Prior to the meeting, NCOIL announced that as a result of the late nature of the enactment of the federal Juneteenth Holiday it was not practical to adjust schedules and move the meeting to a different date. Therefore, as was the case with many government and government-affiliated institutions, the meeting proceeded as scheduled. Going forward, Juneteenth will be incorporated into NCOIL’s operations schedule and policies. NCOIL President Matt Lehman (Rep – IN), Committee Chairman Neil Breslin (Sen – NY) and NCOIL CEO Tom Considine all spoke in support of the Juneteenth Holiday, and the rightful celebration of all it represents.

Senator Breslin said, “I am pleased that the Committee has continued to work diligently in meeting its remaining charge of examining insurers’ use of certain rating factors in underwriting. We once again had a lineup of really excellent speakers for this interim meeting who offered differing opinions on these issues. These continue to be important topics for discussion in the insurance industry, and I am proud to have the opportunity to lead this Committee. I look forward to the Committee’s next meeting in July where we will further discuss these issues and determine the Committee’s next steps.”

The Committee discussed the use of zip code, education, and occupation as rating factors, both as separate factors and in combination, in an effort to determine whether the use of those factors in insurance underwriting constitutes unfair discrimination. In addition to the extensive comments and discussion from legislators, the Committee heard from: Doug Heller, Insurance Expert from the Consumer Federation of America; Roosevelt Mosley, FCAS, MAAA, CSPA, Principal and Consulting Actuary at Pinnacle Actuarial Resources, Inc.; Tony Cotto, Director of Auto and Underwriting Policy at the National Association of Mutual Insurance Companies (NAMIC); Peter Kochenburger, Executive Director, Insurance Law LL.M. Program, Deputy
Director, Insurance Law Center, Associate Clinical Professor of Law at the University of Connecticut School of Law; and Jan Graeber, Senior Actuary at the American Council of Life Insurers (ACLI).

There were over 140 participants registered for the interim virtual meeting which included 26 legislators from 17 states.

NCOIL CEO, Commissioner Tom Considine remarked, “There was great attendance and participation at the virtual meeting which illustrates that these are critically important issues for so many people. NCOIL continues to demonstrate its exceptional value in its ability to host meetings like this consisting of a bipartisan group of legislators from across the country coming together to both hear testimony and discuss important and timely insurance issues. Some discussions may be difficult and even emotional, but the NCOIL forum has been highly respectful of quite diverse viewpoints. The information presented to the Committee thus far has been extremely valuable and it will certainly serve to guide any future work product the
Committee produces.”

NCOIL President, IN Rep. Matt Lehman, said, “The Committee continues to make great progress and, importantly, the proper procedures are being followed when discussing issues like specific rating factors in insurance underwriting. Rather than rushing to judgment and simply opining on the fairness or unfairness of a specific factor, we’re being thorough, taking our time to hear all sides and as much data as possible. Senator Breslin continues to do a great job Chairing this Committee and I look forward to the Committee’s next meeting.”

The video recording from the meeting will be posted on the NCOIL website soon.

All material discussed during the meeting can be viewed here: https://ncoil.org/ncoil-special-committee-on-race-in-insurance-underwriting-interim-meeting-june-18-2021-100-pm-230-pm-est/

The Committee will next meet during the 2021 NCOIL Summer National Meeting in Boston, MA. The meeting will be a hybrid format allowing for both in-person and virtual participation. Registration information can be found here: https://ncoil.org/2021-ncoil-summer-meeting-registration/

-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-six 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.