BISMARCK, N.D.-North Dakota Insurance Commissioner Adam Hamm was recently elected vice chair of the National Association of Insurance Commissioners' (NAIC) Midwest Zone.
With Hamm's election, North Dakota also becomes a member of the NAIC's Executive Committee. The NAIC Executive Committee serves as the leadership body of the organization, and its members help to set policy on national insurance regulation issues.
"It is a privilege to be chosen to serve as vice chair of the Midwest Zone of the NAIC, and I'm honored that North Dakota has the opportunity to play a national leadership role," Hamm said. "State-based insurance regulation has numerous challenges to confront, so it's more important than ever that insurance commissioners work together to attempt to find solutions."
Hamm's one-year term begins in 2011. There are 13 states in the Midwest Zone: North Dakota, Illinois, Indiana, Iowa, Kansas, Minnesota, Michigan, Missouri, Nebraska, Oklahoma, South Dakota, Ohio and Wisconsin.
Hamm also currently serves as chair of the NAIC's Principles Based Reserving Working Group and vice chair of the Life Insurance and Annuities (A) Committee.
The NAIC, formed in 1871, is an organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and five U.S. territories. 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.