NAIC Foundation Board Members Share Update at NAIC Meeting

During the National Association of Insurance Commissioners’ (NAIC) recent National Meeting, the board members of the New Avenues to Insurance Careers Foundation reported to state insurance regulators on their progress in setting up the Foundation.

NAIC Past President and former South Carolina Insurance Director Ray Farmer, NAIC Past President and former Kentucky Insurance Commissioner George Nichols III, and NAIC Past President, former NAIC CEO, and former Iowa Insurance Commissioner Dr. Terri Vaughan shared the Foundation has:

• Completed its bylaws and operations plan and is currently working on a communications plan for the Foundation’s official kickoff that it will share with students, states, and industry.

• Developed a graphic and logo to use on its materials.

• Created a goal of providing students with summer internships with both an insurance company and a state insurance department. Following successful completion of the internships, the Foundation would offer the students a scholarship.

•  Sent a survey to states to learn more about state insurance departments’ internship programs and assess their interest in partnering with the Foundation and industry to co-host interns.

The Foundation, which is expected to formally launch its programming in the first quarter of 2023, is also working with outside counsel to finish its application for IRS tax-exempt status.