COVID-19 from the U.S. Insurance Industry Regulation Perspective

Mar 26, 2020

This special episode of the SOA’s Research Insights Podcast highlights how the COVID-19 pandemic is impacting actuaries and their interaction with U.S. insurance regulators.  We were pleased to be joined by Mike Consedine, Chief Executive Officer of the National Association of Insurance Commissioners (NAIC), to give some insights as to what regulators are prioritizing in the current environment. 

Listen in to hear more details on the following topics:

• How the NAIC is bringing the insurance community of companies, regulators and consumers together to discuss the impact of COVID-19, with early examples on access to testing and treatment.
• The actuarial profession’s role in measuring and ensuring the financial soundness of insurance companies and tracking data to monitor the situation.
• The impact on COVID-19 on different insurance product lines, with key focus on business interruption coverages, travel insurance, life insurance and the evolution of cyber risk insurance.
• The flexibility of the U.S. state-based insurance system to quickly adapt to health situations emerging from COVID-19 that can vary widely from state to state.