On September 28th, 2020, the NAIC Innovation and Technology task force sent out a request for information pertaining to regulatory relief related to innovation and technology in response to COVID-19. The NAIC is seeking to both extend existing regulatory relief, and provide new regulatory relief, that promotes the use of new technology, procedures, and data in maintaining the everyday operations of insurers. A list of offered regulatory relief can be found HERE.
The NAIC requests that insurers identify technology related laws, regulations, or practices that continue to act as a challenge to insurers as a result of COVID-19. Please submit your suggestions via e-mail to Denise Matthews at (firstname.lastname@example.org) by November 4th, 2020.
For more information on this Request, or any other regulatory compliance matter, please contact Westmont Associates, Inc