An interview by Michael A. Molony, Esq., Young, Clement, Rivers, LLP with incoming NAIC President Ray Farmer in the FORC Journal
December 20, 2019
As a member of the NALC, you become part of a network of small and mid-size life companies and associates, as well as professionals who provide services to these companies, such as law firms, actuaries, information technology, financial services, and other professionals who service the insurance industry. This resource describes the benefits you will receive in addition to the results of NALC’s regulatory advocacy efforts.
Members of the NALC are focused on:
The NALC has two membership conferences each year: one in the spring and another in the fall. Each conference is a three day event, with the first day devoted to committee meetings on topics such as Small Face and Specialty Markets Life Insurance. The second day features remarks by six insurance regulators or legislative leaders from across the United States and the third day is devoted to industry experts leading discussion on topics such as legal, cybersecurity and investments. The meetings include significate time for networking with other industry leaders and conference participants. Coverage at NAIC and NCOIL
Led by Governor Hodges, the NALC provides coverage and advocacy at each NAIC and National Conference of Insurance Legislators (NCOIL) meeting. The NALC also provides coverage and advocacy involving significant matters that impact our members in specific states. For instance, the NALC has been quite active in addressing unique issues impacting smaller companies around the Unclaimed Life Insurance Benefits legislation in a number of states, and the establishment of principles based reserving in the states. We also form coalitions to support or oppose legislation that impacts our members around the country.