Newsletter

Greetings from the Compact! Many of us are setting new goals for 2025, and the Insurance Compact is certainly no exception. We are in the midst of holding planning sessions with our Insurance Compact Officers and Committee Chairs and Vice Chairs, and we expect each Committee to have full agendas in 2025.

The Compact Office sent information explaining the upcoming process for Compact group filing submissions that will be used for non-employer groups to designated representatives earlier this week. We have also posted a copy of the Guidance Document for Compacting States to Member Connect under Files. If you and/or your staff would like to receive notifications from the Compact Office when such a filing is submitted for review, please provide names and e-mail addresses of who should be notified by either completing this electronic form or emailing your request to comment@insurancecompact.org.

The dissemination of non-employer group guidance for Compacting States comes as the Group Whole Life and Group Term Life amendments become effective on February 10, 2025. You can find more information on the Record Adopted Standards page of the Compact’s website.

The Compact Office has posted the Insurance Compact Compass 2.0 Strategic Plan, adopted during the Annual Meeting in Denver, CO, to the website. You can get a snapshot of each action item directly on the page! Go to Regulator Resources and click on the Strategic Plan page for more information.

Lastly, thanks to those members who have completed the Insurance Compact Committee Email Distribution List webform already. For those who haven’t yet, we ask that you complete it as soon as possible so we can finalize the committee mailing lists for the year.

We are grateful for the opportunity to serve our members, and we are here to provide whatever support they need.

So that our readers have an idea of the priorities of our Compact Board, we are starting off 2025 highlighting each Compact Officer. Eric has served as Nebraska Director of Insurance since 2021 and has had a long career in insurance regulation. Eric serves as Chair of the Insurance Compact Commission, a role he assumed in June 2024; he was elected for another term at the Commission’s annual meeting last November. Before he was Chair, Eric was the Compact Vice Chair for two years. Eric also chairs the NAIC International Insurance Relations (G) Committee and represents the NAIC and state-based insurance regulators at numerous international bodies and forums.

Eric oversees a vibrant life industry in Nebraska with several large domestic insurers that use the Compact’s filing platform, so he is well aware of the value the Compact brings to policyholders. Eric promotes common sense regulation and encourages the industry to use efficiencies and technology in service to their policyholders. The InsurTech on the Silicon Prairie event in Omaha in October has grown in size and allows regulators and industry to better understand the rapidly evolving world of innovation and technology in insurance.

2024 Committee Chairs and Vice Chairs

Adjunct Services Committee – Director Barbara Richardson (AZ), Chair & Commissioner Mike Humphreys (PA), Vice Chair

Audit Committee – Commissioner Sharon Clark (KY), Chair & Commissioner Scott Kipper (NV), Vice Chair

Finance Committee – Commissioner Allan McVey (WV), Chair & Commissioner Andrew N. Mais (CT), Vice Chair

Governance Committee – Director Eric Dunning (NE), Chair & Commissioner Nathan Houdek (WI), Vice Chair

Rulemaking Committee – Director Larry Deiter, Chair (SD), Chair & Superintendent Robert Carey (ME), Vice Chair

Product Standards Committee – Commissioner Doug Ommen (IA), Chair & Acting Commissioner Sandy Bigglestone (VT), Vice Chair

Actuarial Working Group – Director Judith French (OH), Chair & Commissioner Jon Pike (UT), Vice Chair

We want to recognize Fred Nepple’s long-tenured service as a member of the Consumer Advisory Committee (CAC). Fred stepped down from the CAC in December. He was appointed to this committee in August 2013 shortly after his retirement from the Wisconsin Office of the Commissioner of Insurance, where he was the General Counsel and served with distinction for more than 28 years. Fred was an active participant attending many of the in-person Commission meetings to provide input on issues affecting Uniform Standards as well as the Commission’s processes and governance. On behalf of the Commission and the Compact Office, please join us in thanking him for his dedicated service to the Compact and state-based insurance regulations over these many years. There is now an open seat on the Consumer Advisory Committee and please contact the Compact Office if you have a recommended candidate for this important advisory committee.