COLUMBUS – The National Association of Insurance Commissioners (NAIC), an organization that provides expertise, data, and analysis for state insurance regulators to effectively regulate the insurance industry and protect consumers, has selected the Ohio Department of Insurance for committee and task force leadership roles in 2022.
Ohio Department of Insurance director Judith L. French will chair the Life Insurance and Annuities Committee and is a member of the new Innovation, Cybersecurity, and Technology Committee.
“It is a real honor and privilege to work alongside our state insurance department counterparts across the country in so many capacities to help ensure insurance marketplaces are competitive and consumers are protected, and that certainly includes in Ohio,” French said.
The new committee provides a forum for state insurance regulators to discuss cybersecurity, innovation, data security and privacy protections. In addition, members will focus on emerging technology issues and their impacts on the insurance regulatory framework, the use of innovation technologies by the industry, and to develop appropriate government oversight.
Department staff will represent Ohio on 21 committees and task forces to address such issues as consumer protection, industry innovation and regulation, sensitive information security, product pricing, fraud and misconduct, insurance company financial monitoring, and more.
The Ohio Department of Insurance oversees one of the largest insurance marketplaces in the world and its Emerging Products and Innovation Initiative has positioned the department and Ohio as a leader in helping bring new insurance-related ideas to market while providing strong consumer protections.