Insurance industry representatives have expressed concerns about confidentiality in a new disaster reporting system recently granted preliminary approval by the National Association of Insurance Commissioners.
At the group's winter meeting in San Antonio earlier this month, the Disaster Reporting Working Group approved a planned multistate approach to disaster reporting of insurance data coordinated though the NAIC.
According to the working group, the Disaster Reporting System aims to streamline data reporting and prevent redundant requests for the purpose of identifying solvency and market conduct issues at an early date and assisting policymakers reacting to the disaster.
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