The National Association of Insurance Commissioners is cancelling its spring meeting March 21-24 in Phoenix, the latest concession to the growing coronavirus threat.
Instead, the association is switching to a "virtual-only format," according to a news release this morning.
"The revised schedule demonstrates our continued commitment to the important work of the NAIC membership during this time of crisis," the release said. "The actions already taken by NAIC members are bringing much needed guidance and relief to the public they protect. That work must and will continue.
"At the same time, we will approach our organization’s mission in innovative ways, putting the health and safety of those around us first. We will utilize available technology to engage stakeholders, coordinate our actions, and get the job done."
The meeting is one of three major conferences the NAIC holds annually and draws hundreds of regulators, insurance executives, consumer advocates and media members. It gives regulators the chance to meet face-to-face in dozens of committees and subgroups spanning the various sectors of the insurance industry and regulatory matters associated with each.
Here is the NAIC's new tentative schedule:
- The public portion of the NAIC’s special session on state responses to COVID-19 will be held on March 20, 2020, starting at 11 a.m. ET via virtual meeting.
- Working groups, subgroups and other meetings will be held via conference calls March 16-31, 2020.
- Task force meetings will be held via conference calls April 1-10, 2020.
- Executive Committee and letter committees will be held via conference calls the week of April 13, 2020.
- EX/Plenary will meet via public conference call on April 20, 2020.
Last week, the NAIC announced the full-day special session of the nations’ chief state insurance officials for March 22 to discuss state response and coordination around COVID-19. The association previously set up a "Coronavirus Resource Center" to aggregate updates and tips on the virus.
The NAIC asked that all meeting registration cancellations be submitted in writing to NAIC Meetings, Events & Travel Services at [email protected]
"The NAIC is dedicated to working with all meeting registrants to apply their current registrations towards either the upcoming 2020 Summer National Meeting in Minneapolis or 2020 Fall National Meeting in Indianapolis," the release said.
Fears of coronavirus becoming a global pandemic is causing the cancellation of many conferences, sporting events, classes and other gatherings in a bid to avoid concentrating large numbers of people in confined spaces.
Most sponsors of financial services' conferences said last week that they were proceeding business as usual, including the NAIC. But as the virus spread further, cancellations have mounted.
InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at [email protected]. Follow him on Twitter @INNJohnH.
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