Proposal for NAIC Model Act on Insurance Innovation

By Mayer Brown's Insurtech Team

At the December 4, 2017, meeting of the NAIC Innovation and Technology (EX) Task Force, Michael O’Malley made a presentation on behalf of the American Insurance Association (AIA), which unveiled a proposal for an “Insurance Innovation Regulatory Variance or Waiver Act.”  The AIA’s proposed model act would create a formal process for insurance commissioners to grant variances or waivers from specific insurance regulatory requirements to “facilitate the introduction of new, innovative or more efficient insurance products, services or technologies.”

14 Dec 2017

Tagged in: AIA, innovation, NAIC, regulation

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