FOR IMMEDIATE RELEASE

NAIC TO HOLD FINANCIAL SUMMIT

WASHINGTON, D.C. (May 24, 2010) —The National Association of Insurance Commissioners (NAIC) will hold its 5th Financial Summit: 2010 Leadership Initiatives. This year’s conference will be held June 2 - 4, 2010, at the Hyatt Regency Jacksonville Riverfront Hotel in Jacksonville, Florida.

The Financial Summit is the source of expert, up-to-date information on many of the current NAIC financial initiatives for regulators and the insurance industry. Topics on the conference agenda include:

• Insurance SMI
• Principles-Based Reserving
• Changes in reporting of structured securities
• Financial reporting update
• Statutory accounting update
• Catastrophic risk update
• International issues
• Federal legislative updates for insurance
• Legal and IT issues with financial impact
• Risk-focused exam effect on industry

Florida Insurance Commissioner Kevin McCarty will deliver the keynote address, focusing on the contrasts between the U.S. system of regulation and the European Union's Solvency II regulation. The summit will also address the latest developments in Solvency Modernization Initiatives, Market Conduct Impact on Financial Regulation and investments including RMBS issues. Approximately 20 hours of CPE credit may be earned.

Two general sessions are designed to address recent reform developments in the nation's capital. The general session on federal legislative activity will highlight the current status of the debate over federal regulation of insurance and broader financial regulatory reform. Specific topics will include creation of a systemic risk council, federal resolution authority and a new consumer financial protection agency. There will also be a general session addressing the new health care bill and loss ratios, as well as discussion on state regulatory actions that will be required by the new federal law.

Registration will be available on site. Click HERE for additional information on the summit.

About the NAIC

Formed in 1871, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and five U.S. territories. The NAIC has three offices: Executive Office, Washington, D.C.; Central Office, Kansas City, Mo.; and Securities Valuation Office, New York City. The NAIC serves the needs of consumers and the industry, with an overriding objective of supporting state insurance regulators as they protect consumers and maintain the financial stability of the insurance marketplace. For more information, visit www.naic.org.

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