Release Date: June 23, 2009
Contact: Contact Us
DALLAS—International
Risk Management Institute, Inc. (IRMI), is excited to announce two
prominent insurance professionals will summarize the Obama administration’s
initiatives that may affect insurance regulation and present opposing views
on federal versus state insurance regulation at the
29th IRMI Construction Risk Conference. These new “Hot Topic” breakfast
presentations have been added to the agenda for the Conference, to be held
November 1-5, 2009, at the Gaylord National Resort & Convention Center in
National Harbor, MD (just minutes from Washington, D.C.).
The insurance industry has been divided for years about how insurers are
regulated, and the economic crisis has tilted the scale toward some level of
federal involvement in the future. Proponents of a federal system believe
that state regulation is inadequate and that one-stop regulatory approval
provides a broader representation of insurance interests and stronger
regulatory oversight of systemic risk. Proponents of state regulation
believe the merits of a state system that provides stronger consumer
protection outweigh the virtues of a single regulator and have proposed
principles to improve the current state regulatory system. During “Hot
Topic” breakfast presentations, two leading spokespersons of the opposing
viewpoints will share their perspectives as well as their understanding of
the direction the U.S. government is headed now as the federal versus state
regulation battle once again heats up.
Therese M. (“Terri”) Vaughan, CEO of the National Association of
Insurance Commissioners (NAIC), will present the state insurance regulators’
viewpoint on federal insurance regulation on Tuesday, November 3, at 8:00
a.m. Joel Wood, Senior Vice President of Government Affairs for the Council
of Insurance Agents and Brokers, will present the viewpoint of those
favoring federal insurance regulation on Wednesday, November 4, at 8:00 a.m.
Since February 2009, Dr. Vaughan has served as the NAIC’s primary
representative and chief spokesperson in Washington, D.C. The NAIC serves
the needs of consumers and the industry, with an overriding objective of
supporting state insurance regulators as they protect consumers and maintain
the financial stability of the insurance marketplace.
From 1994 to 2004, Dr. Vaughan was the Iowa Insurance Commissioner. In
that position, she served under the administrations of both major parties
and was the longest-serving commissioner in Iowa’s history.
Mr. Wood has served as Senior Vice President of Government Affairs for
the Council of Insurance Agents and Brokers since January 1993. The Council
represents 270 of the nation’s largest commercial property/casualty
insurance agencies and brokerage firms. Council members annually place 80
percent—more than $140 billion—of commercial property and casualty insurance
premiums in the United States.
As the Council’s government affairs director, Mr. Wood is the
association’s top lobbyist on Capitol Hill and administers the trade group’s
political action committee. Prior to joining the Council, he served 4 years
as the Assistant Vice President for Government Affairs of the National
Association of Professional Insurance Agents. In 2006, 2007, and 2008, The
Hill newspaper named him as one of the top trade association lobbyists in
Washington.
The
29th IRMI Construction Risk Conference agenda also includes 27 workshops
facilitated by insurance, safety, legal, and bonding experts from across the
United States, and two keynote addresses to focus on lessons learned by the
construction and insurance industries during the economic crisis.
The “early bird” registration fees are $1,450 for the entire program
(Monday through Thursday noon) or $1,350 for the Tuesday through Thursday
noon program. Contractors and project owners attending for the first time
qualify for a special first-timers’ half-price registration fee of $725.
For further information on the IRMI Construction Risk Conference and to
register, visit http://www.IRMI.com/conferences/crc/,
contact the Conference Coordinator at International Risk Management
Institute, Inc., at 12222 Merit Drive, Suite 1600, Dallas, TX 75251-2266.
Telephone 800-827-4242 (in Dallas 972-960-7693), fax 972-371-5120.