An interview by Michael A. Molony, Esq., Young, Clement, Rivers, LLP with incoming NAIC President Ray Farmer in the FORC Journal
December 20, 2019
The NALC is driven by member involvement, organized under several committees that accept responsibility for various issues.
The Actuarial Committee considers and evaluates actuarial issues related to legislative and regulatory proposals of the NAIC, states legislatures and departments of insurance and the Federal Government that affect the industry. Further, the committee shares its evaluations and recommendations with other committees and the Board of Directors. The committee is led by Leon Langlitz, Senior Vice President & Principal Consulting Actuary at Lewis & Ellis, Inc.
The Cybersecurity Committee closely monitors the work of the National Association of Insurance Commissioner (NAIC) and the Cybersecurity (EX) Working Group as they consider cybersecurity issues in the field and develop the Insurance Data Security Model Law. Scott Harrison, a former regulator in the New York and Delaware Departments of Insurance, leads this committee.
The committee works with the Executive Director to develop programs for increasing the membership and makes recommendations to the Board of Directors. Monica Sole, Lincoln Heritage Life Insurance Company, leads this committee.
This committee proactively identifies regulatory issues with potential impacts on specialty life insurance markets. The committee meets monthly, every 2nd Wednesday, and discusses pending legislation and regulation across the United States that impacts small face life issues, including preneed and final expense policies. Jessica Dewald-Sever, Assurant Inc., and Tracy Whitaker, Homesteaders Life Company, co-chair this committee.