NAIC which is a parastatal under the Ministry of Agriculture and Rural Development is saddled with the responsibility of providing insurance cover for farmers against natural disasters.
By a unanimous vote, the Innovation and Technology Task Force - convening today as part of the
NAIC's summer meetings in New York - moved to submit a request for model law development to the
NAIC Executive Committee.
The competition was part of the recent insurance conference held by
NAIC in Kansas City June 3-7 with the theme of "Where Innovation Meets Regulation."
NAIC said its pitch competition had five industry judges, including a state insurance commissioner, corporate venture capital investor, insurance accelerators, insurance technology companies and strategic insurance thought leaders.
Velella said, in introducing his retaliation bill, that it was designed to protect New York insurers when the
NAIC accreditation program began to be enforced possibly resulting in serious financial and regulatory burdens to them.
Urias, the former director of the Arizona Department of Insurance, said the
NAIC will move forward with its approach to evaluating the proposal while it awaits a response on the standards from the Federal Reserve and the Federal Insurance Office.
3 December 2013 - US holding company Imperial Management Corp (IMC) said it had completed the takeover of local National Automotive Insurance Company (
NAIC), without providing financial details.
26 April 2013 -- WisdomTree (NASDAQ: WETF) reported that the WisdomTree Emerging Markets Corporate Bond Fund (EMCB) has received a risk-based capital (RBC) designation of 3 from the Securities Valuation Office (SVO) of the National Association of Insurance Companies (
NAIC).