NAIC forms special committee to focus on race and insurance
BUSINESS RECORD STAFF Jul 27, 2020 | 3:51 pm
1 min read time162 wordsAll Latest News, Insurance & Investments
The National Association of Insurance Commissioners Executive Committee recently announced the formation of a special committee focused on race and insurance. The special committee will be co-chaired by Ray Farmer, NAIC president and director of the South Carolina Department of Insurance, and David Altmaier, NAIC president-elect and commissioner of the Florida Office of Insurance Regulation. The committee is charged with making recommendations to the NAIC’s executive committee and membership by year-end regarding steps that insurance regulators and the insurance industry can take to increase diversity and inclusion. The committee will also address industry practices that potentially disadvantage minorities and actions to ensure ongoing engagement of the NAIC on these issues through charges to existing committees, task forces and working groups. The NAIC will hold a special session on race and insurance during its Summer National Meeting, which begins today. Information obtained from discussions and topics addressed during the session will support the committee with its near and long-term objectives, the NAIC stated.