Each spring, the National Association of Insurance Commissioners (NAIC) announces its legislative and regulatory priorities for that year. As in past years, the organization plans to focus on giving control of insurance regulation to individual states in 2025.
These priorities, they state, “aim to foster an innovative, competitive, and secure insurance marketplace, enhance access to insurance to safeguard the financial well-being of our citizens, and strengthen coordination between the federal government and the states.”
Click through the slideshow above for a look at each of the NAIC’s five main legislative priorities for 2025.
What were the NAIC’s priorities in 2024?
In 2024, the NAIC’s federal legislative priorities included:
- Strengthening property insurance markets and enhancing mitigation and resilience efforts. The NAIC supported funding, tax incentives and research for state mitigation and resilience programs to address the challenges from natural disasters.
- Clarifying the authority of the Consumer Financial Protection Bureau. A regulatory act introduced by the NAIC aimed to clarify the CFPB’s authority around state insurance-regulated entities.
- Granting insurance regulators voting membership on the Financial Stability Oversight Council.
- Protecting seniors from financial abuse. The NAIC supported legislative efforts to target fraud against seniors.
- Granting the cannabis industry access the insurance.
- Protecting policyholders during insurer insolvencies.
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