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Birny Birnbaum has ended his 25-year run as a funded client consultant on the Nationwide Affiliation of Insurance coverage Commissioners.
Birnbaum, the chief director of the Austin, Texas-based Heart for Financial Justice, first turned an NAIC client rep in 1999, when he took over from the middle’s earlier government director, Victoria Benitez.
Birnbaum stated in an e-mail interview that he determined to not reapply as a result of he not felt his work on the affiliation was doing a lot good.
“I believe there are more practical methods to advertise and obtain improved client safety, better availability and affordability of insurance coverage, deal with structural racism in insurance coverage and cease the quite a few unfair and misleading practices in life insurance coverage and annuities than attending NAIC conferences,” Birnbaum stated.
What it means:Â Monetary professionals who observe the NAIC could have a more durable time understanding it now that Birnbaum is not offering his plain-English analyses of its work.
Shopper reps: The NAIC, a gaggle for state insurance coverage regulators, created the patron rep program in 1992.
The group pays for the funded reps to journey to NAIC conferences and communicate up for shoppers. Different, unfunded reps pay their very own meeting-related journey payments.
Grace Arnold of Minnesota is the regulator who serves because the chair of the NAIC Shopper Liaison Committee this 12 months.
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