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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 Maarten.

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 operations.

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.

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