������̳

The ������̳ (������̳) welcomes more than 2,000 participants to its hybrid 2025 Spring National Meeting in Indianapolis, Indiana this week (March 23 – 26). The ������̳ hosts three national meetings annually, bringing together regulators and interested parties from across the insurance sector. 

Throughout the week, attendees will gain insight into the work of the ������̳ committees, task forces, and working groups as the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories set standards and respond to regulatory challenges. The meetings provide an opportunity for regulators to collaborate on addressing emerging risks and developing trends that could reshape the business of insurance. 

“How insurance regulators make decisions matters,” said Elizabeth Kelleher Dwyer, ������̳ Vice President and Rhode Island Department of Business Regulation Director. “Through thoughtful discussions, transparent processes, and a commitment to addressing the diverse needs of policyholders and industry stakeholders, we ensure that the outcomes of our committee work truly serve consumers.” 

The workplans of the ������̳’s eight standing committees are guided by charges that outline specific tasks, responsibilities, and goals assigned to each committee and the subsidiary task forces and working groups. These charges ensure that the work aligns with the ������̳'s broader mission of strengthening state-based insurance regulation and supporting insurance departments as they protect consumers and ensure fair, safe, and stable markets. 

This week, there will be robust discussion of the 2025 workplans, building on the initiatives and federal legislative priorities announced earlier this year. The ������̳’s commitment to exploring effective solutions to pressing issues impacting consumers will be on full display. 

������̳ 2025 Key Committee Plans:

Life Insurance and Annuities (A) Committee – The committee’s priorities include developing annuity suitability enforcement training programs, exploring technological solutions to establish a database of administrative decisions on annuity suitability for regulators, and utilizing the Generator of Economic Scenarios (GOES).

Health Insurance and Managed Care (B) Committee – In 2025, the committee plans to engage with Congress to secure an extension of enhanced Affordable Care Act (ACA) subsidies, explore options for state flexibility using innovation waivers, develop a white paper on a prior authorization framework, continue advocacy for stronger oversight of Medicare Advantage marketing practices, and examine alternative arrangements relating to the small group market.

Property and Casualty Insurance (C) Committee – The committee aims to establish a Homeowners Market Data Call Task Force to manage the collection of home insurance data and develop a playbook addressing affordability and availability with a focus on state actions, innovative strategies, and cross-peril risk factors. The committee will also work on mitigating the impacts of severe weather while promoting resiliency.

Market Regulation and Consumer Affairs (D) Committee – The committee aims to develop examination, data collection, and licensing/registration standards for pharmaceutical benefit managers, establish a framework for assessing the impact of and responding to multi-state cybersecurity events, and create a playbook to coordinate state actions against unlicensed agents.

Financial Condition (E) Committee – The committee is dedicated to advancing adjustments to the framework guiding the regulation of insurer investments, strengthening and modernizing Risk-Based Capital (RBC) formulas (including in coordination with the new RBC Task Force), developing a due diligence framework for enhanced oversight of credit rating providers, and restructuring and renaming the Valuation of Securities Task Force. 

Financial Regulation Standards and Accreditation (F) Committee – The committee’s priorities include reviewing the current scope of the ������̳’s accreditation program that guides state legislatures and state insurance departments in the development of effective solvency regulation, understanding how states regulate companies within the accreditation program’s scope, and identifying any discrepancies or unique regulatory practices across states by analyzing state regulations. 

International Insurance Relations (G) Committee – The committee will continue to monitor the implementation of the Insurance Capital Standard (ICS) and has created an Aggregation Method Implementation Working Group to facilitate the domestic implementation of the ICS. The committee will also be working alongside other U.S. financial sector regulators as part of the 2025 Financial Sector Assessment Program. In addition, this year we mark 20 years of coordinating the ������̳’s International Fellows Program.

Innovation, Cybersecurity, and Technology (H) Committee – This year, the committee will continue its work on developing and proposing a framework for the regulatory oversight of third-party data and predictive models, investigate artificial intelligence testing through self-audit questionnaires, and seek public comment on an amended Privacy Protections Model Act (#672), which standardizes privacy protections for the collection, data ownership and use rights, and disclosure of information gathered in insurance transactions.