NCOIL CONCLUDES SUCCESSFUL ANNUAL MEETING IN NEW ORLEANS, LA

BELMAR, New Jersey, Nov. 25 (TNSsel) -- The National Conference of Insurance Legislators posted the following news release:

The National Council of Insurance Legislators (NCOIL) concluded a highly successful 2022 Annual National Meeting (Meeting) from November 16th - 19th in New Orleans, LA. In what was the final of the organization's three National Meetings in 2022, NCOIL set an all-time attendance record with 393 participants consisting of 68 legislators from 28 states, 9 first-time legislators, 9 Insurance Commissioners (or equivalent), and 17 total insurance departments represented.

The agenda featured the adoption of four new model laws and the re-adoption of six existing models. Additionally, NCOIL's policy Committees heard presentations and held discussions on a wide variety of emerging topics and important issues currently impacting the insurance and financial services marketplaces.

"In my final meeting as NCOIL President, I was proud to see much of the work of the past year come to fruition," said California Assemblyman Ken Cooley who concluded his term as NCOIL President at the conclusion of the Meeting. "This has truly been a full circle moment in my career as I attended my first NCOIL Meeting in 1989 when I was Chief Counsel to the California Assembly Finance and Insurance Committee. It was a great honor to have led the organization during this important time," concluded Cooley.

NCOIL CEO, Commissioner Tom Considine said, "I am thrilled with how the organization finished the year. Attendance at our meetings in 2022 was very strong, and to finish the year with an attendance record-setting meeting is a testament to how hard everyone has worked. From a substantive perspective, the Meeting was extremely successful in terms of the model laws adopted. Each of those models represent sound insurance public policy and you will see them introduced across the country starting in January."

The Meeting for the first time ever kicked off with the NCOIL Golf Outing to Benefit the Insurance Legislators Foundation (ILF) Scholarship Fund on Wednesday afternoon. The event helped reinvigorate the ILF Scholarship Fund which helps legislators attend NCOIL National Meetings.

"The NCOIL Open was a great event and I was happy to see so many people help raise money for a worthwhile cause," said Texas Representative Tom Oliverson, M.D. The event will help further strengthen NCOIL as we have more legislators attending NCOIL Meetings than ever before. As we plan for our 2023 National Meetings, it is good to know the funds raised will help more legislators attend and gain value from the organization."

At the traditional Welcome Breakfast on Thursday morning, attendees heard from Louisiana Lieutenant Governor Billy Nungesser who spoke about both his experience serving the people of Louisiana and all the great things the state has to offer.

After the Welcome Breakfast, the Health Insurance & Long Term Care Issues Committee, chaired by New York Assemblywoman Pamela Hunter, met and discussed the NCOIL Biomarker Testing Insurance Coverage Model Act, sponsored by Asw. Hunter. The Committee also discussed policies that enable Value-Based Payment Agreements (VBPs) for gene therapies as well as Gold Card Laws and other prior authorization reform efforts.

"This year, the Health Insurance and Long Term Care Issues Committee took on some of the most pressing issues in the industry. As we gain valuable insights from those who testify and share their thoughts on legislation, I look forward to further discussion of these model bills that are so potentially transformative and impactful."

The NCOIL Innovation Series continued with a panel titled "Have Data Privacy Laws and Regulations Kept Up with 21st Century Technology?" Other general sessions throughout the conference included panels titled "Examining the Impact of Wildfire Risk on the Insurance Market" as well as "What's it Going to Cost Me? - A Discussion on Hospital Price Transparency."

During its meeting, the Workers Compensation Insurance Committee addressed the rampant fentanyl crisis. "It was great for the Committee to meet in New Orleans to continue working on a range of issues," said Ohio Senator Bob Hackett who chairs the Committee. "By discussing topics such as the impact of fentanyl on the workers' compensation marketplace, and overall workers' compensation legislative & regulatory trends we covered a lot of ground and provided valuable information that legislators can use in their states."

The Life Insurance & Financial Planning Committee had a productive meeting with South Carolina Representative Carl Anderson, presiding as Acting Chair. The Committee's meeting was highlighted by the adoption of the NCOIL Paid Family Leave (PFL) Insurance Model Act sponsored by MN Senator Paul Utke and co-sponsored by AR Representative Deborah Ferguson, DDS.

"As both a legislator and licensed insurance agent, I continue to be impressed with how much NCOIL is able to accomplish at its meetings. I was proud to serve as Acting Chair of the Life Insurance Committee and preside over the Paid Family Leave Insurance Model Act being adopted.

That's an issue that is really trending across the country and the NCOIL model will provide states critical guidance," said Rep. Anderson.

The day concluded with the meeting of the Nominating Committee which voted to recommend a slate of new officers for next year. Minnesota Senator Paul Utke will serve as Secretary, the first step in the NCOIL Officer ranks, and New York Assemblywoman Pamela Hunter will serve as Treasurer. The Nominating Committee also continued the advancement of Arkansas Representative Deborah Ferguson DDS, who will now serve as President, and Texas Representative Tom Oliverson M.D., who will serve as Vice President. Outgoing President California Assemblyman Ken Cooley will serve alongside Indiana Representative Matt Lehman as Immediate Past Presidents. The full Executive Committee elected the slate on Saturday.

"After serving almost ten years in the Arkansas Legislature and spending many of those years involved with NCOIL, I look forward to working with my fellow Officers to continue to advance the organization," said Rep. Ferguson, "The attendance in New Orleans is an indicator of where the organization is heading, and I look forward to doing my part to strengthen and highlight the positive impact the organization has on insurance public policy as a whole.''

Friday began with the meeting of the Financial Services & Multi-Lines Issues Committee, chaired by Louisiana Representative Edmond Jordan. The Committee adopted the NCOIL Insurance Regulatory Sandbox Model Act, sponsored by Rep. Bart Rowland (KY) and co-sponsored by Rep. Wendi Thomas (PA) and Rep. Oliverson. The Committee also re-adopted the following four additional model laws: Model Act to Support State Regulation of Insurance by Requiring Competition Among Rating Agencies; Model Act Prohibiting Consumer Reporting Agencies from Charging Fees Related to Security Freezes; Credit Report Protection for Minors Model Act; Credit Default Insurance Model Legislation. The Committee also heard presentations on methods to improve recruitment and retention of insurance talent, insurance developments in the Federal Home Loan Bank System, and on the development and use of Environmental, Social, and Governance (ESG) Scores.

"The Committee's meeting was extremely productive, and I am proud of the models we advanced as well as the various topics we explored," said Rep. Jordan. "I was also glad to do my part in having NCOIL back in New Orleans for its most highly attended meeting ever to show Louisiana off as a great state. We had a particularly strong delegation of Louisiana legislators attend this meeting and I look forward to NCOIL returning to New Orleans in the future."

A very productive NCOIL-NAIC Dialogue was then held which included an impressive lineup of NAIC representatives: Alaska Director Lori Wing-Heier, Georgia Commissioner John King, Louisiana Commissioner Jim Donelon, Oklahoma Commissioner Glen Mulready, Missouri Director Chlora Lindley-Myers, Montana Commissioner Troy Downing, and Utah Commissioner Jon Pike.

The Dialogue included discussions on recent activities of the Federal Insurance Office; the impact of wildfire risk on the insurance market; the development of a new NAIC Data Privacy Model Law; Proposed Amendments to the NAIC Life Insurance Illustration Model Regulation; and Adoption of the NAIC Pet Insurance Model Law. The Committee also heard updates on the work of the NAIC Innovation Cybersecurity and Technology (H) Committee.

"It is important for us as legislators to meet with our regulatory counterparts to engage on issues of mutual concern," said New York Assemblyman Kevin Cahill, Chair of the Dialogue. "We were able to make significant progress discussing a wide range of issues and a strong turnout of Commissioners and Directors highlighted NCOIL's continued positive working relationship with the NAIC."

John Ashford, Chairman and CEO of the Hawthorn Group, L.C. delivered a fascinating presentation at Friday's luncheon, giving an in-depth post-election presentation that touched on the outcome of the recent midterm elections and its impact on the insurance industry.

The day concluded with a meeting of the Property & Casualty Insurance Committee, chaired by Kentucky Representative Bart Rowland. The Committee adopted two model laws including: The NCOIL Delivery Network Company (DNC) Insurance Model Act, sponsored by Rep. Rowland; and the NCOIL Dog Bread Insurance Underwriting Protection Model Act, sponsored by Asm. Cahill and co-sponsored by Rep. Tammy Nuccio (CT). The Committee also heard presentations on developments in the surplus and excess line insurance marketplace, and Idaho's efforts to lower the uninsured motorist population.

"In my final NCOIL meeting as a legislator, it was great to see this Committee take action on such important issues," said Rep. Rowland. "The models we adopted show how NCOIL can lead on very important and timely issues in an efficient manner."

The Joint State-Federal Relations & International Insurance Issues Committee, chaired by Minnesota Senator Paul Utke, met on Saturday morning and heard presentations on the National 988 Suicide & Crisis Prevention Lifeline; the implementation of the Federal Clinical Treatment Act; and the healthcare provisions in the Federal Inflation Reduction Act. The Committee also readopted the following: The Exhaustion of Administrative Remedies Model; and the Producer Compensation Disclosure Model Amendment to the Producer Licensing Model Act.

"It was great to preside over discussions on highly relevant and important topics facing the insurance marketplace at both the State and Federal levels," said Sen. Utke. "Understanding how Federal initiatives impact insurance is key in preserving our state-based system of insurance regulation."

The Annual Meeting concluded Saturday afternoon with the meeting of the Executive Committee in which Rep. Ferguson was officially sworn in as NCOIL President.

"Assemblyman Cooley did a fantastic job this past year as President and I thank him for setting up NCOIL for a successful 2023," said Rep. Ferguson. "I am looking forward to meeting in San Diego in March where we will have another agenda filled with important and timely insurance issues."

The 2023 NCOIL Spring Meeting is scheduled to take place in San Diego, CA at the Westin San Diego Gas Lamp Quarter from March 9th - 12th. Registration will open in December.

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