FOR IMMEDIATE RELEASE
NAIC SIGNS MOU WITH CURACAO
Agreement Enhances Global Regulatory Cooperation
WASHINGTON, D.C. (Dec. 22, 2011) — The National
Association of Insurance Commissioners (NAIC) today posted a Memorandum of
Understanding (MOU) with the Centrale Bank van Curacao en Sint Maarten. The
MOU was signed by NAIC President and Iowa Insurance Commissioner Susan E.
Voss, and Dr. E.D. Tromp, President of Centrale Bank van Curacao en Sint
The MOU is designed to help insurance supervisors in both countries
maintain efficient, fair, safe and stable insurance markets for the benefit
and protection of policyholders. This agreement further enhances the NAIC's
relationships globally, as regulators around the world have supervisory
responsibility for international insurance carriers. The MOU provides a
framework for cooperation, increased mutual understanding, the exchange of
information and technical assistance.
The NAIC currently has 13 MOUs on regulatory cooperation, including signed
agreements with Thailand, Hong Kong, Korea, Iraq, Egypt, Russia, Brazil and
ASSAL (Association of Latin American Insurance Supervisors). The NAIC also
has agreed to a model MOU on information exchange between EU supervisors
and U.S.-led supervisors of insurance group members with transatlantic
Click HERE for the MOU.
About the NAIC
The National Association of Insurance Commissioners (NAIC) is the U.S.
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. NAIC staff supports these efforts
and represents the collective views of state regulators domestically and
internationally. NAIC members, together with the central resources of the
NAIC, form the national system of state-based insurance regulation in the
U.S. For more information, visit www.naic.org.