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Commissioner McClain Named Chair of NAIC Property & Casualty Insurance Committee

January 21, 2023 at 4:00 a.m.

Special to The Banner News

Arkansas Insurance Commissioner Alan McClain has been appointed by the National Association of Insurance Commissioners (NAIC) to serve as the Chair for the Property and Casualty Insurance Committee, commonly referred to as the "C Committee," as well as Chair of the Workers' Compensation Task Force, a subgroup of the Property and Casualty (C) Committee. McClain has also been reappointed to serve on the Financial Standards and Accreditation (F) Committee, which reviews insurance department ability to analyze company solvency.

"It's an honor to be named Chair of both the (C) Committee and the Worker's Compensation (C) Task Force. I look forward to collaborating with my Co-Vice Chairs as well as my counterparts across the country to find innovative ways to approach some of the insurance industry's most challenging issues," said Commissioner McClain. "I have confidence that working together, my fellow commissioners and I will continue to improve upon the state-based insurance regulation system, with the primary goals of protecting consumers and ensuring healthy insurance markets."

McClain was recently reappointed by Arkansas Governor Sarah Huckabee Sanders to continue serving as Commissioner of the Arkansas Insurance Department (AID).

"I'm extremely appreciative of the Governor's confidence in me, and I'm grateful to continue to serve with my colleagues at the Arkansas Insurance Department," said Commissioner McClain. "I'm proud to come to work each day as we serve the consumers of Arkansas together."

McClain began his career in state government in 1992 at AID. He was appointed as Arkansas's 24th Insurance Commissioner by former Governor Asa Hutchinson in April 2020. Prior to his appointment, McClain served for five years as Commissioner of Arkansas Rehabilitation Services (ARS)--a sister agency of AID under the state Department of Commerce. He also served thirteen years with the Arkansas Workers' Compensation Commission (AWCC), where McClain spent nearly nine years as its Chief Executive Officer (CEO).

About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S.

The mission of the Property and Casualty Insurance (C) Committee is to: 1) monitor and respond to problems associated with the products, delivery and cost in the property/casualty (P/C) insurance market and the surplus lines market as they operate with respect to individual persons and businesses; 2) monitor and respond to problems associated with financial reporting matters for P/C insurers that are of interest to regulatory actuaries and analysts; and 3) monitor and respond to problems associated with the financial aspects of the surplus lines market.

The mission of the Workers' Compensation Task Force is to study the nature and effectiveness of state approaches to workers' compensation and related issues, including, but not limited to: assigned risk plans; safety in the workplace; treatment of investment income in rating; occupational disease; cost containment; and the relevance of adopted NAIC model laws, regulations and/or guidelines pertaining to workers' compensation.

Print Headline: Commissioner McClain Named Chair of NAIC Property & Casualty Insurance Committee

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