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ARTICLE · 24 FEBRUARY 2023

NAIC Announces 2023 Priorities

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

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The National Association of Insurance Commissioners (NAIC) recently announced its regulatory priorities for 2023. Insurers should consider the extent to which these matters impact them and the prospect...

United StatesInsurance
Daniel Rabinowitz
Daniel Rabinowitz
Matthew Doyle
Matthew Doyle
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The National Association of Insurance Commissioners (NAIC) recently announced its regulatory priorities for 2023. Insurers should consider the extent to which these matters impact them and the prospect that insurance regulators will issue new reporting requirements or guidance regarding these topics in the near future. The priorities, presented in alphabetical order in the NAIC's Feb. 13 press release, offer a snapshot of some current industry issues and developments and how regulators perceive them.

  • Reduce climate risk-related protection gaps through a consumer education campaign to raise awareness of possible coverage needs and state department resources. The NAIC will also advocate for a stable, long-term National Flood Insurance Program (NFIP) and establish the Catastrophe Modeling Center of Excellence (COE) to assist states in their risk analysis and mitigation efforts.

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