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Analysis

NAIC update: Fall 2021 National Meeting

Protecting and preserving property amid intensifying climate change

The National Association of Insurance Commissioners (NAIC) hosted its Fall 2021 National Meeting from the host city of San Diego, California, representing a second return to national in-person meetings, again with a hybrid virtual option. Building off the last National Meeting, climate risk and resiliency continue to be key focus areas, with accelerated underwriting gaining interest.

Fall meeting recap

NAIC President and Florida State Insurance Commissioner David Altmaier welcomed participants, and California Governor Gavin Newsom provided his own welcome. Governor Newsom thanked the commissioners, directors, and superintendents for their hard work and highlighted the importance of insurance. With a reference to these “unprecedented times,” his comments focused on the issue and intensification of climate change; natural disasters like wildfires, hurricanes, and flooding; and the protection and preservation of homes, properties, and lives, while balancing affordability, protection and services.

The fall meeting covered the following key focus areas, recapped in greater detail below:

  • Accelerated underwriting
  • Climate updates
  • Life actuarial updates
  • Casualty actuarial updates
  • Accounting updates

Five key focus areas

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