COLUMBUS —Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor will attend the National Association of Insurance Commissioners (NAIC) Spring 2011 National Meeting this weekend in Austin, Texas. At the meeting, Taylor will participate in several sessions regarding the regulation of the insurance industry.
The NAIC is the organization of insurance regulators from the 50 states, the District of Columbia and the five U.S. territories. The NAIC provides a forum for the development of uniform policy when uniformity is appropriate.
“This national meeting is an opportunity for me to work with other state insurance regulators to share best practices regarding regulation of the insurance industry,” Taylor said. “A state regulator's primary responsibility is to protect the interests of insurance consumers, and the NAIC helps regulators fulfill that obligation.”
Taylor will actively participate in sessions discussing federal legislative and regulatory developments on matters impacting insurance regulation.
The NAIC’s mission is to assist state insurance regulators in serving the public interest and achieving fundamental insurance regulatory goals in a responsive, efficient and cost effective manner. NAIC members are elected or appointed state government officials who, along with their departments and staffs, regulate the conduct of insurance companies and agents in their respective state or territory.
One major focus of the Spring National Meeting is federal legislative and regulatory developments on matters impacting insurance regulation. Members will be briefed on the continuing debate regarding implementation of both the Patient Protection and Affordable Care Act (PPACA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act.