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The NAIC is not a regulator; while its members are the insurance commissioners (i.e., the chief insurance regulators) of each U.S. state and six territories, [1] the NAIC is a non-governmental organization that concerns itself with insurance regulatory matters but does not actually regulate. The states have not delegated their regulatory ...
The NAIC internal designation for the Annual Financial Reporting Model Regulation is MDL 205, where MDL stands for Model, and the number of the model rule is 205. [4] Because the regulation was issued by NAIC, which is not a federal agency with direct regulatory power, its adoption is on a state-by-state basis.
The Louisiana Insurance Commissioner is a statewide constitutional office that regulates the insurance industry in Louisiana.The Insurance Commissioner serves as the head of the Louisiana Department of Insurance, which consists of ten divisions; Consumer Advocacy, Financial Solvency, Health Insurance, Legal Services, Licensing & Compliance, Minority Affairs, Management & Finance, Public ...
While most insurance commissioners are appointed, in some jurisdictions they are elected. [1] The office of the insurance commissioner may be part of a larger regulatory agency, or an autonomous department. Insurance law and regulation is established individually by each state.
Key takeaways. 11 property insurance companies in Louisiana became insolvent between July 2021 and September 2022, reflecting the deepening crisis in the state’s insurance market .
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The association was incorporated in 1920 in Indianapolis, Indiana, where its national headquarters is still located. It also has a Washington, D.C. office located on Capitol Hill. In addition to its advocacy work at the federal level of government, NAMIC also has a network of state managers to represent member companies in every statehouse in ...
Temple graduated from DeRidder High School in DeRidder, Louisiana, and Southern Methodist University. After graduating, he became an insurance agent. [1] He became the president of Temptan, a family-owned company. [2] In 2019, Temple ran against Jim Donelon for Louisiana Insurance Commissioner in the 2019 election. Donelon won reelection. [3]