Filed Under:Your Practice, Regulatory

In insurance captives debate, ‘everything is on the table’ – NAIC president

2014 NAIC officers, from left, Lindeen, Hamm, Clark and Consedine (Image courtesy NAIC)
2014 NAIC officers, from left, Lindeen, Hamm, Clark and Consedine (Image courtesy NAIC)

A national standards-settings group for the state-regulated insurance industry has “everything on the table” as it seeks to resolve issues over the use of controversial “captive” entities that critics say allows insurers to mask their financial health, the new president of the organization said in an interview.

“Everything” includes moves to potentially eliminate use of the captives altogether as well as development of standards for uniformity across states if continued use is permitted, said Adam Hamm, who assumed the presidency of the National Association of Insurance Commissioners last month for a one-year term.

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