State insurance regulators have urged Congress to reject proposals for a federal moratorium on artificial intelligence regulation, warning that overly broad definitions could disrupt routine insurance operations including claims processing and underwriting. The National Association of Insurance Commissioners (NAIC) sent a letter yesterday to Senate and House leadership opposing any federal moratorium on state legislative […]
NAIC Announces 2025 Federal Legislative and Regulatory Priorities
Today, the National Association of Insurance Commissioners (NAIC) announced its 2025 federal legislative and regulatory priorities, which are focused on further strengthening the national system of state-based insurance regulation in the United States. The NAIC’s 2025 federal priorities include: Preserving and Respecting States’ Primary Role as Insurance Regulators by Eliminating the Federal Insurance Office (FIO): […]
National Association of Insurance Commissioners Elects 2025 Officers
On November 19, members of the National Association of Insurance Commissioners (NAIC) elected their 2025 officers at the conclusion of the NAIC Fall National Meeting in Denver, Colorado. The 2025 NAIC officers include: President: North Dakota Insurance Commissioner Jon Godfread. Jon Godfread was first elected Commissioner of the North Dakota Insurance Department on November 8, […]
Five of the Top 10 U.S. Auto Insurers Grew Market Share in 2023
Auto insurance premiums earned up over 12% last year. Total direct premiums earned on private passenger auto insurance were $303.5 billion in the U.S. in 2023, up 12.3% from 270.3 billion in 2022 according to data released March 18 by the National Association of Insurance Commissioners (NAIC). In comparison, during 2022, earned premiums were up […]
NAIC Members Approve Model Bulletin on Use of AI by Insurers
The National Association of Insurance Commissioners (NAIC) Membership voted to adopt the Model Bulletin on the Use of Artificial Intelligence Systems by Insurers during the 2023 Fall National Meeting. Comissioner Kathleen A. Birrane. Michael Conway, Commissioner of the Colorado Division of Insurance, and Doug Ommen, Commissioner of the Iowa Insurance Division, are co-vice chairs of […]
Top 10 U.S. Auto Insurers Had Over 76% Market Share in 2022
Progressive moves into second place on the list of top 10 private passenger auto insurers. NAIC reports auto insurance premiums earned up nearly 5% in 2022. Total direct premiums earned on private passenger auto insurance were $270.26 billion in the U.S., up 4.86% from 57.7 billion in 2021 according to final data released March 28 […]
National Association of Insurance Commissioners Announces Resignation of CEO
The National Association of Insurance Commissioners (NAIC) announced that Michael (Mike) F. Consedine is stepping down as the organization’s Chief Executive Officer, effective April 30. Consedine has served as the CEO of the NAIC since January 2017. “On behalf of our members and the NAIC staff, we are grateful to Mike for all his good […]
Top 10 U.S. Auto Insurers Had Over 75% Market Share in 2021
NAIC reports auto insurance premiums earned up over 3% in 2021. Total direct premiums earned on private passenger auto insurance were $257.7 billion in the U.S. in 2021, up over $7 billion, or 3.1% from $250 billion in 2020 according to final data released March 28 by the National Association of Insurance Commissioners (NAIC). The […]
National Association of Insurance Commissioners Elects 2021 Officers
Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2021 on December 9 during the closing activities of its Fall 2020 National Meeting. The following officers were elected for 2021: President: Florida Insurance Commissioner David Altmaier David Altmaier was appointed Commissioner of the Florida Office of Insurance Regulation (OIR) by the Financial […]
Auto Physical Damage Insurance Underwriting Profit Up in 2017
The latest statistics from the National Association of Insurance Commissioners indicates that the private passenger auto physical damage insurance returned to profit in 2017. Data contained in the National Association of Insurance Commissioners (NAIC) report on profitability by insurance line in 2017, released this month, showed some improvement in private passenger auto physical damage (APD) […]