National Association of Insurance Commissioners Virtual Spring Meeting Suspended

WASHINGTON, March 24 -- The National Association of Insurance Commissioners issued the following news release:

As the COVID-19 situation continues to evolve, the NAIC officers have decided, effective immediately, to suspend holding any further sessions of the virtual Spring National Meeting to allow our members and staff more time to focus on this health emergency.

This change enables state insurance regulators to better focus on the health and safety of insurance consumers and the impact this pandemic is having on the insurance market.

The NAIC membership and staff continues to approach our organization's mission in innovative ways and remains open for business.

At this time, we are reviewing our workstreams and prioritizing them to better meet the immediate needs of NAIC members. As we prioritize the current workstreams, particularly those related to financial solvency and consumer protection, a new highest priority schedule will be forthcoming. We will have updates shortly as they become available.

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About the NAIC

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. For more information, visit www.naic.org.