New York State
Insurance Department


ISSUED 3/10/2004

FOR IMMEDIATE RELEASE

NEW YORK CITY HOSTS 2004 SPRING NATIONAL MEETING OF NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS MARCH 13-16th
State Regulators Gather For Quarterly Meeting on Insurance Issues

        Superintendent of Insurance Gregory V. Serio announced that New York City will be host to the 2004 Spring National Meeting of the National Association of Insurance Commissioners (NAIC) from March 13-16th. The meeting will provide a valuable forum for the exchange of ideas and in-depth consideration of insurance issues among the country’s State Regulators and industry representatives.

        "Effective regulation, as it has for the past 144 years in New York, is best accomplished at the state level. These meetings are the forum that makes insurance regulation at the state level work – where insurance regulatory issues are discussed and where problems will best be solved," Serio said.

        "We look forward to returning to New York, where we anticipate a very productive session," said NAIC President Ernst Csiszar, who also serves as South Carolina’s Director of Insurance. "Our meetings are always well attended, and we intend to engage all interested parties in a discussion of our regulatory modernization efforts, among other issues."

        The ambitious agenda of the 2004 Spring National Meeting includes discussions on Terrorism, Market Conduct, Globalization, Interstate Compact, Privacy, Holocaust, Rating Agencies and Federal vs. State regulation of insurance.

        "Insurance plays a significant role in the economy of New York State, as well as the economy of the entire country and the commitment of each State’s regulator to the on-going dialogue through the NAIC is the best way to serve insurance consumers," added Serio. "It was in 1871, when New York’s Superintendent of Insurance George Miller offered an invitation to all state insurance commissioners to meet in New York which first launched the NAIC. It is especially fitting to have New York City host this National Meeting to demonstrate how New York continues to lead the way in addressing challenging insurance issues of the day."


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