Office of Financial and Insurance Services Hosts National Association of Insurance Commissioners' Retreat

Contact: OFIS (Toll-free) 1-877-999-6442

            The Michigan Office of Financial and Insurance Services (OFIS) will host the Midwest Zone retreat of the National Association of Insurance Commissioners (NAIC) at the Grand Hotel on Mackinac Island August 9-11.  Insurance commissioners from several NAIC Midwest Zone states including Wisconsin, South Dakota, North Dakota, Oklahoma, Illinois, Kansas and Nebraska are expected to participate.

            “I am pleased to have the opportunity to bring together commissioners from the midwestern region here to Michigan,” OFIS Commissioner Linda A. Watters said today. “These meetings will provide us with a chance to discuss how a variety of issues, such as credit scoring and the spiraling cost of home and auto insurance, impact consumers in states across the region.”

            The National Association of Insurance Commissioners assists state insurance regulators in serving and protecting the public interest, and promoting competitive markets.

The Michigan Office of Financial and Insurance Services (OFIS) is responsible for the regulation of Blue Cross Blue Shield, 31 HMOs, 145 banks, 270 credit unions, almost 1,500 insurance companies, 1,583 investment advisers, 2,164 securities broker-dealers, 6,000 consumer finance lenders, 105,000 insurance agents, and 120,715 securities agents.

                OFIS is part of the Department of Labor and Economic Growth and is primarily fee-funded, requiring minimal public tax dollars for its regulatory and consumer assistance activities.  OFIS has insurance, financial institutions and securities information available online at the OFIS web site, www.michigan.gov/ofis, or at the Michigan government home page, www.michigan.gov.  All information is also available through the OFIS toll free number, 877-999-6442.