The publication is reproduced in full below:
COMMEMORATING THE NAIC'S 150TH ANNIVERSARY
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HON. JOHN GARAMENDI
of california
in the house of representatives
Thursday, December 9, 2021
Mr. GARAMENDI. Madam Speaker, it is my honor to congratulate and commend the National Association of Insurance Commissioners (NAIC) on the celebration of its 150th Anniversary and for the many years of advocacy and responsible stewardship of the insurance industry. Since its founding in 1871, NAIC has worked to diligently regulate the national insurance industry and market and protect hundreds of millions of American consumers.
As the first elected State Insurance Commissioner of California and former member of the NAIC. I know how invaluable state regulators' frontline role can be in holding insurance companies accountable. I am proud to continue to work closely with the NAIC here in Congress. including through the introduction of my bill the Primary Regulators of Insurance Vote Act. This important piece of legislation would support the work of the NAIC by ensuring that the expertise of our nation's primary insurance regulators, state commissioners, has equal weight in the monitoring of our financial stability at the national level.
Were it not for the work of the NAIC and its members. Americans would all too often be left unprotected from predatory practices of insurance companies. On behalf of the people of California's 3rd Congressional District. please accept my sincere congratulations and gratitude for the work you have done and continue to do and my best wishes for the years ahead.
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SOURCE: Congressional Record Vol. 167, No. 213
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