Insurance Regulators Pledge To Address Racism And Discrimination Within The Industry

The National Association of Insurance Commissioners (NAIC) has announced the formation of a special committee focused on Race and Insurance.

“Our regulatory system and insurance in general is a reflection of the society it aims to protect, and while state insurance regulators have worked to eliminate overt discrimination and racism, we all have been increasingly aware that unconsious bias can be just as damaging to society,” said Mike Consedine, NAIC’s CEO, in a statement.

The NAIC committee will do the following:

Conduct research and analyze the level of diversity and inclusion within the insurance sector. Engage with a broad group of stakeholders on issues pertaining to race, diversity and inclusion in the insurance sector. Determine whether current practices exist within the insurance sector that potentially disadvantage minorities.