NAIC Seeks Consultant For Own Corporate Governance Review
Jul 14, 2014
The National Association of Insurance Commissioners (“NAIC”) Executive Committee recently voted unanimously to accept the recommendation from its Governance Review Task Force to retain a consultant to assist in a comprehensive review of NAIC governance.
To view specific actions to be performed by the consultant, click here.
In addition to the recommendation, the Executive Committee adopted a scope of work that contemplates a broad review of the NAIC’s organizational structure, committee processes and external engagements. In a news release issued today, July 14, 2014, the NAIC anticipates issuing a Request for Proposal (“RFP”) this week to facilitate selection of a consultant and is targeting early September for the work to commence.
“I would like to acknowledge the outstanding work of Missouri Insurance Director John M. Huff for his leadership on the Governance Review Task Force during this process,” said Adam Hamm, NAIC President and North Dakota Insurance Commissioner. “As in past reviews of NAIC governance, we hope the consultant can assist us in facilitating a thorough evaluation and identifying best practices for us to consider.”
The RFP will be posted on the NAIC Web site upon its issuance.
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