Issue link: http://read.dmtmag.com/i/661462
Spring 2016 — www.ncsf.com 5 NCSF is a growing, vital, and progressive organization. Ours is not a fraternal that is going to die on the vine for lack of stimulation or the ability and desire to stay ahead of the curve for keeping up with the changing times and requirements. The Board's recent appointment of Brian Lawless as our National Treasurer is another step in that direction, and I am pleased to welcome him to NCSF's Executive Committee. Other happenings that everyone needs to be aware of are as follows: NEW NAIC REGULATIONS. It is expected that as early as summer of 2017, our Society and all other fraternal societies will be required to comply with new National Association of Insurance Commissioners (NAIC) regulations. The NAIC is the standard- setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. The NAIC will soon be implementing more stringent requirements that will standardize business practices within the insurance industry and therefore enhance consumer protections. Much of the focus will be on governance and the qualifications of those who make business decisions for the companies. WORKING WITH THE ALLIANCE. In a recent blog post, Joe Annotti – CEO of the American Fraternal Alliance (the Alliance) – wrote that the Illinois Department of Insurance personnel were "pleased to learn about the Alliance's commitment to good governance and of our extensive corporate governance education programs." The Alliance staff's meeting with them "was an important first step in improving fraternals' relationship with the Illinois DOI, a relationship that had its contentious moments over the past few years." Annotti went on to write that "The next step would be to schedule a meeting with leaders from all the state's domiciled societies to discuss regulatory matters – from governance to sustainability." Because NCSF is domiciled in the state of Illinois, we will participate with the Alliance in the discussions. ILLINOIS STATE EXAMINERS. Based on information available to us at this time, state examiners will review the Society's Constitution and Laws, checking for proper corporate governance. Examiners will take a good look at the mechanism for corporate decision-making and they will review the qualifications of board members – expecting core competencies of financial literacy, accounting, business judgement, industry knowledge, management, vision, and strategy. Recognizing the demands that will be put upon us by mid-2017, we also realize that NCSF will soon need to undergo another revision of our constitution in order to comply with these new expectations of the examiners. Therefore, our delegates from the 2014 convention will be receiving a ballot by mail this spring in regard to the by-laws revision which was developed for NCSF by an attorney who works with the American Fraternal Alliance. As regulators create more regulations, we fraternal insurance societies must respond with appropriate adjustments in order to pass the scrutiny of future exams. Even if our structure has to be modified in order to fulfill the expectations of regulators and examiners, NCSF will always be a not-for-profit fraternal society with the purpose and mission of caring for Catholic families, parishes, and the communities in which we live. NATIONAL PRESIDENT MARGARET "PEGGY" SCHMITT National President's Message dear Members of the National catholic Society of foresters,