Press Release - DECEMBER 16, 2019

AM BestTV: State Legislators Prep to Address Flood, Alternative Health Insurance Coverage, Says Head of NCOIL


CONTACTS:
 Lee McDonald
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561
lee.mcdonald@ambest.com

FOR IMMEDIATE RELEASE

OLDWICK - DECEMBER 16, 2019
In this AM BestTV episode from the annual conference of the National Conference of Insurance Legislators (NCOIL) in Austin, TX, Thomas Considine, chief executive officer of NCOIL, said upcoming sessions of the organization will examine health sharing and other evolving forms of coverage. Click on http://www.ambest.com/v.asp?v=tconsidine1219 to view the entire program.

Considine highlighted the leading topics at this year’s event, including annuity suitability. He also spoke about working with the NAIC on competing model laws.

“If the legislators around the country had their druthers, they’d probably prefer that the NAIC to do model regulations and NCOIL do model laws, but that’s not always the way it’s going to be,” said Considine. “The NAIC does some model laws, and if it’s a model law that NCOIL can support, such as the model law on reinsurance, then NCOIL just endorses the NAIC model law and doesn’t get into the process of doing a rival model law.

“Sometimes, an NAIC model law, such as the one on network adequacy and out-of-network benefits, reads too much like a regulation as opposed to the general framework that we believe a statute should look like, so we’ll do our own.”

Considine added that private flood insurance as a way to supplement the federal program, along with alternatives to the Affordable Care Act, are topics generating discussion at the annual event.

For full video coverage of the NCOIL conference, including exclusive executive interviews, visit www.ambest.tv/ncoil19 .

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  • Identity Theft Coverage Could Become ‘Personal Cyber’ Insurance, Say AM Best Analysts: AM Best analysts discuss the state of the identity theft insurance market, and how the product could evolve into stand-alone personal cyber coverage: http://www.ambest.com/v.asp?v=idtheft1119 .

  • Catastrophes Likely to Dent Reinsurance Earnings, Says AM Best Senior Financial Analyst: AM Best Senior Financial Analyst Mariza Costa says three straight years of catastrophe losses likely will dampen reinsurers’ third-quarter 2019 earnings: http://www.ambest.com/v.asp?v=catsreport1119 .

AM BestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View AM BestTV episodes at http://www.ambest.tv .

AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.