Regulators provided welcome, insights, information—and real results

Kendra Franklin, ICAE president, opened the meeting encouraging all attending to Increase their Creative Capital, a theme that reflected the recent rebranding campaign for city of Providence. Clearly, the idea worked for ICAE and Providence as Exchange participants explored the city and their industry knowledge.
Kendra Franklin, ICAE president, opened the meeting encouraging all attending to Increase their Creative Capital, a theme that reflected the recent rebranding campaign for city of Providence. Clearly, the idea worked for ICAE and Providence as Exchange participants explored the city and their industry knowledge.

 

The real value of ICAE’s Exchange is the forum in which information is exchanged from industry to regulators and from regulators to industry.

More than once in this forum, companies articulated their concern for having to determine the exact date for or timing of a response to state DOIs. ALL iterated their commitment to adhere to the DOI guidelines, but stated that some ambiguity regarding when the clock started ticking for the response hampered them. Companies asked regulators if regulators could start inserting an actual date.

The result? Good things happen at ICAE’s Exchange. By the end of the 2015 forum, the Connecticut Insurance Department had agreed to start inserting dates rather than number of days necessary (with the caveat that coding may take a little time). Real issue, real resolution, positive action.

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