The National Association of Insurance Commissioners (NAIC) Executive Committee has voted unanimously to accept the recommendation from its Governance Review Task Force to retain a consultant to assist in a comprehensive review of NAIC governance.
In addition to the recommendation, the Executive Committee has also adopted a broad review of the NAIC’s organisational structure, committee processes and external engagements.
The NAIC has stated that it anticipates issuing a request for proposal (RFP) in order to facilitate selection of a consultant and is targeting early September for the work to commence.
“I would like to acknowledge the outstanding work of Missouri Insurance Director John Huff for his leadership on the Governance Review Task Force during this process,” said Adam Hamm, NAIC President and North Dakota Insurance Commissioner.
“As in past reviews of NAIC governance, we hope the consultant can assist us in facilitating a thorough evaluation and identifying best practices for us to consider.”
The RFP will be posted on the NAIC website upon issuance.
