By Katie Dzurec
Director, State Public Policy Outreach
The National Association of Insurance Commissioners (NAIC) held its 2025 summer national meeting in Minneapolis from Aug. 11-13, and regulators, industry representatives, consumer advocates, Academy volunteers, and other partners showed up to “do the work,” as NAIC President Jon Godfread put it, “[n]ot with slogans but with substance.”
Set in the context of strengthening and modernizing the U.S. regulatory system, consumer protection and helping the public understand the value of insurance took top billing in every discussion. Throughout the meeting, while clearly keeping substance in mind, regulators deliberated and sought stakeholder input on all of insurance, but especially the three hottest topics of the day- AI governance, the evolution of the risk-based capital (RBC) formulas, and premium affordability.
Academy volunteers and staff provided updates from the health, life, and casualty practice councils, the Committee on Qualifications, the Actuarial Standards Board, and the Actuarial Board for Counseling and Discipline. The Academy also provided both written and oral cross-practice comments on the potential development of an AI model law and proposed RBC principles, while Health Practice Council Vice President Annette James provided an overview of what’s driving 2026 health insurance premiums to HATF.
Concerns about access and affordability were not limited to health insurance. Disaster recovery, risk mitigation, and resilience were on the table with the Property and Casualty (C) Committee. State regulators, industry partners, and consumer representatives shared their insights on proactive steps consumers can take to protect their homes, as well as education efforts regulators and industry can pursue to help consumers understand their coverage-speaking with clarity and leading with purpose.
While talking about innovation and evolution, the NAIC took a couple of radical steps in walking the transparency walk. First, the Health Insurance and Managed Care (B) Committee agenda included a first-of-its-kind discussion with members of the Legislative Liaison Roundtable (Roundtable). The Roundtable typically meets in closed sessions to discuss state legislative activity that is impacting state insurance markets, so it is a notable (and hopefully ongoing) occurrence that representatives from Alaska, Delaware, and Ohio shared legislative progress in their respective health insurance markets. Their states have passed and are building on legislation to further patient access, increase transparency, and reduce provider burden.
On the market regulation side, the Market Actions (D) Working Group (MAWG) shared this year’s high-level priorities and announced an open invitation to all Collaborative Action Designees (CADs) to MAWG meetings. In the past, CADs, as states’ commissioner-appointed liaisons to MAWG, received updates and reports on market actions, but their participation in MAWG closed-door meetings was not always certain. Idaho Director Dean Cameron, chair of the Market Regulation and Consumer Affairs (D) Committee, committed to ensuring CADs have access to MAWG meetings and can provide information directly to their agency leadership. Like the Roundtable, MAWG meetings are traditionally closed sessions, as regulators discuss confidential information about specific companies and ongoing financial and market conduct examinations and analyses.
While not disclosing confidential information these new steps toward transparency align with Commissioner Godfread’s earlier call to action to embrace collaboration. More specifically, during his opening remarks in Minneapolis, the NAIC president reflected on progress made since March and the work ahead, noting, “The strength of our system lies in our unity and shared commitment to serving the public.” Once again, it’s a message that surely resonates for Academy staff and volunteers in walking the walk of our mission-to serve the public and the U.S. actuarial profession.
For more details on the NAIC’s Summer National Meeting, be sure to check out the post-NAIC recap, featuring insights from Academy staff who were at the meeting, which will be available Aug. 27 on the Academy’s YouTube channel.