Chaney Selected to Key National Insurance Leadership Post
JACKSON – Mississippi Insurance Commissioner Mike Chaney has been selected to a key leadership position by the National Association of Insurance Commissioners.
Chaney was named chairman of the NAIC’s influential Property and Casualty Insurance (C) Committee by the leadership of the national group. The NAIC is the organization of state insurance regulators for all 50 of the United States, Washington D.C., and five US territories.
The Property and Casualty Committee deals with insurance issues and regulations for catastrophe insurance, crop insurance, earthquakes, terrorism, title insurance, workers’ compensation, surplus lines and risk retention, among many other issues. The mission of the committee is to monitor and respond to regulatory issues associated with property and casualty insurance including their delivery and cost.
The committee has four task forces that report to it and eight working groups to assist with deliberations.
Because of its geographic location, Mississippi has to deal with the threat of not only hurricanes, but also tornadoes and earthquakes. “We tried very hard to select membership and leadership based upon expertise,” NAIC president Susan Voss said. Voss is also Iowa Insurance Commissioner.
“I am honored and proud to have been chosen by my peers to this very important post,” Chaney said. “I think it reflects the expertise we in Mississippi have in dealing with catastrophic losses and the effort we have put in trying to learn how to best serve consumers and the industry in the face of overwhelming losses.”
In addition to the chairmanship of the property and casualty committee, Chaney will also serve the NAIC as a member of the Professional Health Insurance Advisors Task Force, the Senior Issues Task Force, the Surplus Lines Task Force and the NAIC/State Government Liaison Task Force.
“I believe that this position and my other committee memberships gives us the ability the better address coast problems and find solutions to those problems,” Chaney said. “