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NAIC President Jane L. Cline Releases Statement Regarding Retained Asset Accounts

NAIC President and West Virginia Insurance Commissioner Jane L. Cline issued the following statement in response to media reports regarding Retained Asset Accounts:

"Retained Asset Accounts (RAA) are a life insurance claims settlement mechanism that have been available to consumers for at least two decades. The accounts were initially created at the request of consumers to provide options for receiving benefits from a life insurance policy, and with proper disclosure, consumers have generally been happy with this flexibility. Traditionally, consumers earn interest under these accounts, allowing their benefit to grow without the need to make impulsive decisions about how to manage the benefit."

Jane L. Cline, NAIC President and West Virginia Insurance CommissionerJane L. Cline,
NAIC President and West Virginia Insurance Commissioner

Full Story...
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NAIC Meets in D.C. to Address Health Care Reform
NAIC DC Interim Health Care Meeting

The July 22-23 meeting features an agenda packed with meetings addressing the NAIC's significant role in the implementation of health care reform.

Agenda  |  NEW AUDIO FILES, documents, materials and links available

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IN MEMORIAM

"Members of the NAIC are saddened by the loss of a trusted friend and colleague. Sue Cogswell was a dedicated public servant who brought joy and vitality to everyone and everything she touched. Our deepest thoughts and prayers are with Sue's family."

Susan CogswellSusan Cogswell

— Jane Cline, NAIC President and West Virginia Insurance Commissioner

Obituary (Condolence Book)  |  Hartford Courant Article

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