Former FDIC Chair to Address State Regulators

November 1, 2011

Sheila Bair, former chairman of the Federal Deposit Insurance Corporation (FDIC), will deliver the keynote address to members of the National Association of Insurance Commissioners (NAIC) during the Opening Session of its Fall National Meeting in National Harbor, Md.

“We are honored to have former Chairman Bair address our members and attendees,” said Susan E. Voss, NAIC president and Iowa insurance commissioner. “Her tenure as chair of the FDIC during the height of the financial crisis attests to her commitment to solid consumer protection, which parallels the goal of regulators working to achieve similar aims through strong state-based insurance regulation.”

Bair served as the 19th chairman of the FDIC from June 2006 to July 2011. Before joining the FDIC, she was the dean's professor of Financial Regulatory Policy for the Isenberg School of Management at the University of Massachusetts-Amherst. Bair received a number of prestigious honors as FDIC chairman. In 2008 and 2009, Forbes magazine named her the second most powerful woman in the world. In 2009, she was named one of TIME magazine's "Time 100" most influential people; awarded the John F. Kennedy Profile in Courage Award; and received the Hubert H. Humphrey Civil Rights Award.

The Opening Session of the NAIC Fall National Meeting is scheduled for 12:45 p.m. ET, Thursday, Nov. 3, at the Gaylord National Hotel and Convention Center.

The NAIC’s Title Insurance (C) Task Force will meet during the meeting to discuss several issues. According to the agenda, the Task Force will consider a motion to adopt reports of the Title Statistical Plan (C) Working Group, the Title Annual Statement Instructions (C) Working Group and the Title Insurance Market Conduct and Mortgage Fraud (C) Working Group. Task Force members also will discuss increasing costs and closing responsibilities and will hear a presentation on Florida’s new statute allowing for assessment of title insurers when there is a title insurance insolvency.

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North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.