NAIC Group Defines ‘Accelerated Underwriting’ Over Industry Protests
June 1, 2021 by John Hilton
A state regulator group reversed course today and approved a definition of accelerated underwriting, and related data elements, after a torrent of criticism.
The definition and data elements move on for consideration Thursday by the Market Conduct Annual Statement Blanks working group. If the criteria passes a further vote by the MCAS parent committee later this summer, accelerated underwriting data would be on track for 2023 reporting.