NU Online News Service, Aug. 26, 10:31 a.m.EDT

With Hurricane Irene bearing down on the Northeast this weekendthe National Association of Insurance Commissioners has decided tocancel its Summer National Meeting in Philadelphia.

The meeting, scheduled for Aug. 29-Sept. 1, had more than 1,500insurance regulators, industry representatives and interestedparties scheduled to arrive in the city at the same time Irene isexpected to to strike on Sunday.

“In evaluating the potential threat of Hurricane Irene, ourdecision to cancel the meeting was informed by considering thesafety of all attendees and members,” says Susan E. Voss, NAICpresident and Iowa insurance commissioner, in a statement. “Thefirst priority for all state regulators is responding to disasters,and we are fully committed to assisting the states affected by thisdisaster.”

“Many of our members and attendees had already decided to canceltravel plans due to their responsibilities for assisting consumersin disaster situations, as well as weather-related travel safetyconcerns,” says Therese M. Vaughan, NAIC chief executive officer.“As the storm subsides, we will re-evaluate the priorities andestablish next steps for conducting business.”

The NAIC says that information about committee work will beupdated regularly on the NAIC's website.

The NAIC Fall National Meeting is scheduled for Nov. 3-6 inWashington, D.C.