Washington — The American Insurance Association (AIA), which has voiced strong opposition in the past to efforts by the National Association of Insurance Commissioners (NAIC) to collect confidential and proprietary insurer information, plans to continue to offer their dissent during the NAIC’s national meeting May 31 to June 2 in San Francisco.

"The NAIC is a non-profit, non-governmental entity,” says Marc Racicot, AIA president. “As such, it should not collect proprietary market data for which no guarantee of confidentiality can be provided. This information is extremely sensitive and if it were to be compromised, there would be needlessly harmful ramifications for both consumers and insurance companies. In the states where insurers file market conduct annual statements, there are clear statutory requirements governing their confidentiality, and regulators must take appropriate steps to ensure this information remains confidential."

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access