Financial Services & Multi-Lines Issues Committee

All model laws and resolutions on this page have been adopted by the NCOIL Executive Committee, unless otherwise indicated.

 

MODEL LAWS

NCOIL Model Act Regarding Insurers’ Use of Artificial Intelligence Draft as of June 17, 2025

Joint Industry Letter on NCOIL Draft AI Model Law                Draft Model Act “On the Use of Artificial Intelligence Systems by Insurers” – Submitted for discussion by American Insurtech Council

Opposition to the Proposed “Artificial Intelligence for Insurers Compliance Act”

NCOIL Earned Wage Access Model Act – Adopted 11/24/24

NCOIL Transparency in Third Party Litigation Financing Model Act – Adopted 11/24/24

NCOIL Federal Home Loan Bank Insurer-Member Model Act – Adopted 7/22/23

NCOIL Insurance Regulatory Sandbox Model Act – Adopted 11/19/22

NCOIL Insurer Division Model Act – Adopted 4/18/21

NCOIL Remote Notarization Model Act – Adopted 11/20/21

NCOIL Uniform Captive Insurer Model Act – Adopted 11/20/21

Insurance Fraud Model Act — Originally Adopted 7/28/95; Readopted 11/16/01, 11/19/04, 11/22/09, 7/13/19, 11/24/24              Proposed Amendments to NCOIL Insurance Fraud Model Act — to be discussed on 11-14-25

NCOIL Insurance E-Commerce Model Act – Adopted 3/8/20; Amended 11/18/23

NCOIL Rebate Reform Model Act – Adopted 3/8/20 ——- to be considered for re-adoption on 11-14-25

NCOIL E-Titling Model Act – adopted March 8, 2020—— to be considered for re-adoption on 11-14-25

NCOIL Model Act Concerning Statutory Thresholds for Settlements Involving Minors – Adopted 9-26-20 ——- to be considered for re-adoption on 11-14-25

NCOIL Model Act to Support State Regulation of Insurance by Requiring Competition Among Rating Agencies – Originally Adopted 11-16-17; Readopted with amendments 11/19/22

NCOIL Model Act Prohibiting Consumer Reporting Agencies from Charging Fees Related to Security Freezes – Originally Adopted 11-16-17; Readopted 11/19/22

NCOIL Credit Report Protection for Minors Model Act – Originally Adopted 11-16-17; Readopted 11-19-22

NCOIL Credit Default Insurance Model Legislation – Originally Adopted 11-22-09; re-adopted 7-11-10, 11-16-17, 11-19-22

Identity Theft Protection Model Act – Originally Adopted 11/21/03; Readopted 11/11/06, 11/20/11, 11/20/16, 11/20/21

 

MODEL LAWS SUPPORTED BY NCOIL

State Model Language for Implementation of Public Law 110-289, Title V—S.A.F.E. Mortgage Licensing Act – Supported 3/1/09

 

INTERIM MEETING MINUTES

Financial Services & Multi-Lines Issues Committee Interim Minutes – September 20, 2024

Financial Services & Multi-Lines Issues Committee Interim Minutes – May 31, 2024

Financial Services & Multi-Lines Issues Committee Interim Minutes – September 29, 2023

RESOLUTIONS

Resolution in Support of Establishing National Standards and Procedures for the Reporting and Payment of Premium Taxes Due as a Result of Direct Procurement – Adopted 11/18/23

NCOIL Resolution in Support of Existing Law Exemptions for New Data Privacy Laws – Adopted 7/22/23

Resolution Asserting McCarran-Ferguson Reverse Preemption over the Supervision of Insurance Companies by the Federal Reserve Board and its Examiners — Adopted 12/8/18

Resolution in Support of State Regulated Health Savings Account-Based Coverage — Adopted 12/8/18

Resolution in Support of The Small Business Audit Correction Act of 2018 — Adopted 7/15/18

Resolution Encouraging the Adoption of Voluntary Data Call Principles — Adopted 11/16/17

In Support of Exemption for Community Banks from Onerous and Unnecessary Regulations — Adopted 11/15/17

In Support of States’ Authority as the Primary Regulator of Insurance Companies – Adopted 11/15/15

Concerning Best Practices for Pension De-Risking through Private Annuitization – Adopted 11/23/14

Opposing PEPTA Federal Pension Reform Legislation – Adopted 11/20/11

Urging Senate Committee to Exclude Insurers from Systemic Risk Regulation, Assessments for Resolution of Systemically Risk Companies ─ Adopted 3/7/10

In Support of the Enforcement of Department of Defense Predatory Lending Regulation – Adopted 3/1/09

Opposing the Proposed Amendment to IRS Regulations Eliminating the Deductibility of Captive Insurance Company Reserves – Adopted 11/17/07

In Support of the Expansion of the Liability Risk Retention Act to Cover All Commercial Lines of Insurance — Adopted 7/12/02

 

LETTERS

Letter in Support of the Policyholder Protection Act of 2015 – 3/18/15

Letter to CFPB Seeking Clarification re: CFPB Actions and State Regulation, Requesting Formal Dialogue with Bureau – 12/4/14

Letter to H.R. 4173 Conferees Regarding Need for Material Interest in CDS Market ─ 6/15/10

Letter to U.S. Senate Supporting S. 3217 Amendments to Add State Officials to Financial Services Council ─ 5/17/10

Letter to House Financial Services, Agriculture Committees Regarding H.R. 4173 and Need for State CDS Regulation – 12/7/09

Letter to Senate Banking and House Financial Services Committees Regarding NCOIL CDS Activity – 7/22/09