At the Opening Session of the Fall 2016 National Meeting, NAIC President John M. Huff recognized North Dakota Commissioner and former NAIC President Adam Hamm for his service to the NAIC and specifically his work as the regulator representative on the U.S. Financial Stability Oversight Council (FSOC).
"As he saw the end of the tunnel from his service as NAIC president, Adam could have easily stepped back quietly to the general ranks of our membership," said Huff, who also serves as Missouri Insurance Director. "Luckily for us, he instead offered his service again."
For two years, Hamm worked to educate the council on the strengths of state-based insurance regulation and the distinctions between insurance and other financial service entities. His dissent in the MetLife designation is still relevant today.
Additionally, his service as chair of the Cybersecurity Task Force and its work on the Insurance Data Security Model Law has pushed the needle forward in protecting consumers. Under Hamm's leadership, the NAIC has made strides to protect policyholders and insurers from data breaches and monitored the development of a new cyber insurance market.