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NCOIL Names New Officers at Annual Assembly

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The Nationwide Council of Insurance coverage Legislators (NCOIL) stated it elected a brand new slate of officer at its Annual Nationwide Assembly.

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Texas Consultant Tom Oliverson will function president; New York Assemblywoman Pamela Hunter was elected as vice chairman; Minnesota Senator Paul Utke will function Treasurer; and Louisiana Consultant Edmond Jordan will function secretary. NCOIL stated this new slate of officers incorporates a majority-diverse group for the primary time in its historical past.

Outgoing President, Arkansas Consultant Deborah Ferguson, will grow to be speedy previous president. She concluded her time period as president on the conclusion of the assembly in Columbus, Ohio earlier this month.

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“Along with advancing our coverage priorities, we now have strived this previous yr to create an environment that’s extra welcoming for individuals of numerous viewpoints to contribute to our discussions which actually is essential in reaching consensus on the problems,” stated Ferguson. “As our membership has modified, so too has our Officer Group advanced naturally in order that over the previous few years has come to be extra reflective of America as a complete.”

“Numerous views are important to the success of any group particularly one which influences public coverage in each state throughout the nation,” Ferguson added. “Having a majority-diverse officer group that encompasses a spread of expertise, thought, and background will serve NCOIL effectively within the years to come back.”

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The assembly’s agenda featured discussions on subjects such because the continued development and prevalence of synthetic intelligence; the return of the U.S. Division of Labor’s Fiduciary Rule; insurance coverage points associated to catalytic converter theft; medical loss ratios for dental (DLR) well being care companies plans; public adjuster skilled requirements reform; third-party litigation funding, Environmental, Social, and Governance (ESG) coverage; and extra.

A normal session titled “Synthetic Intelligence: A Main Profit or Probably Menace for Insurance coverage and Society?” was moderated by Oklahoma Consultant Forrest Bennett, chair of the NCOIL Monetary Companies & Multi-Traces Points Committee. “This was an vital session to carry because the speedy improvement of AI means legislators should work shortly to deal with the issues surrounding the expertise. AI is bound to affect each trade and insurance coverage isn’t any exception,” stated Bennett.

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The Employees’ Compensation Insurance coverage Committee, chaired by Ohio Senator Bob Hackett, met and heard an replace on federal employees’ compensation points. The committee additionally mentioned medical marijuana’s affect on the employees’ compensation market, and general work comp tendencies in gentle of continued developments in medical remedy and analysis.

The assembly additionally included a dialogue with representatives of the Nationwide Affiliation of Insurance coverage Commissioners: Kentucky Commissioner Sharon Clark, Louisiana Commissioner Jim Donelon, Maryland Commissioner Kathleen Birrane, Oklahoma Commissioner Glen Mulready, and Rhode Island Superintendent Beth Dwyer.

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NCOIL CEO Commissioner Tom Considine offered the NCOIL Lifetime Achievement award to Donelon.

“Commissioner Jim Donelon is an insurance coverage public coverage legend who has been a superb public servant for the individuals of Louisiana and has additionally vastly benefitted public coverage nationally via his management on the NAIC,” stated Considine.

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