NAIC Releases for Public Comment Draft Accelerated Underwriting Regulatory Guidance
On Wednesday February 22, 2023, the National Association of Insurance Commissioners (“NAIC”) Accelerated Underwriting (A) Working Group exposed for a 45-day comment period draft regulatory guidance while simultaneously exposing for a 30-day comment period a referral to the Market Conduct Examination Guidelines (D) Working Group proposing revisions to the NAIC Market Conduct Handbook. This is a significant shift from the working group’s prior work mostly gathering information to affirmatively flexing supervisory authority over insurance carriers’ existing accelerated underwriting practices.
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