Wisconsin Insurance Commissioner Selected to Lead National Committee on Insurer Financial Solvency Issues
Madison, Wis. — The Executive Committee of the National Association of Insurance Commissioners (NAIC) has appointed Wisconsin Insurance Commissioner Nathan Houdek as chair of the Financial Condition (E) Committee and as a member of the Life Insurance and Annuities (A) Committee.
The Financial Condition (E) Committee serves as the central forum and coordinator of solvency-related issues relating to accounting practices and procedures, valuation of securities, capital adequacy, and domestic and global financial stability. Last year, Commissioner Houdek served as vice chair of the E Committee, as well as chair of the Financial Stability (E) Task Force.
Commissioner Houdek and staff from the Office of the Commissioner of Insurance will also continue participating in many of the NAIC's most active committees and task forces in the coming year, including the Climate and Resiliency Task Force, Long-Term Care Insurance Task Force, Special Committee on Race and Insurance, and the Senior Issues Task Force. Wisconsin has a long history of involvement with the NAIC and has implemented many model laws and regulations developed in collaboration with consumer groups, industry stakeholders, and regulators across the country.
“Wisconsin has long been an active participant in the work of the NAIC and these committee assignments will provide an opportunity for our state to continue contributing to the development of important insurance regulatory policy," said Commissioner Houdek.
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Since its inception over 150 years ago, the NAIC has provided expertise, data, and analysis for insurance regulators to effectively regulate the industry and protect consumers. The NAIC is governed by the chief insurance regulators from the 50 states, the District of Columbia, and the five U.S. territories, and serves as the standard-setting organization to coordinate regulation of multistate insurers.