Public Policy | Councils | Accounting and Finance
Council Purpose – Provide expertise and guidance to the NAMIC membership and staff with respect to financial regulatory issues, including accounting, investments, risk-based capital, financial examination and analysis, receivership and insolvency, enterprise risk management, and other corporate structure and reporting issues.
General Council Value Proposition – Facilitate the tracking and analysis of the deliberations and pronouncements of any authoritative entity regulating or affecting insurance financial regulatory issues and helps craft, refine, and recommend the association’s positions and responses in this area.
General Council Responsibilities – The council provides regular opportunities for networking, education, and information-sharing and contributes to the NAMIC policymaking process by assisting in the development of policy positions on issues relevant to financial regulatory issues. Specifically, the council will:
Monitor and analyze the deliberations and pronouncements of any authoritative entity regulating or affecting insurance financial regulatory issues, including, but not limited to, the National Association of Insurance Commissioners, the Financial Accounting Standards Board, the International Accounting Standards Board, the International Association of Insurance Supervisors, and regulatory representatives active in any of these organizations.
Develop and issue commentary and responses on the pronouncements or actions of an authoritative entity affecting the property/casualty insurance industry in the finance/accounting area.
Advise and make policy recommendations to the NAMIC State Affairs Committee, Federal Affairs Committee, or the Board of Directors on relevant matters within its jurisdiction.
Foster NAMIC membership awareness of issues with the potential to impact the industry within the council’s jurisdiction.
