FOR IMMEDIATE RELEASE
NAIC HOSTS INTERNATIONAL INSURANCE DIALOGUE
Global insurance supervision and regulatory innovation
discussed at forum
WASHINGTON, D.C. (May 14, 2014) - Members of the National Association of
Insurance Commissioners (NAIC) gathered global thought-leaders in the
insurance sector to discuss regulatory issues and advance international
regulatory coordination at the 7th annual International Insurance Forum in
"The business of insurance and reinsurance is both local and global, and
the financial crisis reminded us how interconnected our world and financial
markets have become," said Adam Hamm, NAIC President and North Dakota
Insurance Commissioner. "We share a common commitment to ensure that
insurance policyholders are able to secure protection, insurance companies
are able to meet their financial obligations, and insurance markets are
able to address the needs of our local communities."
The forum was moderated by Michael F. Consedine, NAIC Vice President and
Commissioner of the Pennsylvania Insurance Department. "We are committed to
positive engagement with international standard-setting bodies to advance
regulatory innovation that supports strong markets in the U.S. and abroad,"
said Consedine, who chairs the International Insurance Relations Committee
at the NAIC. "International best practices must reflect the unique aspects
of each jurisdiction."
More than 250 regulators, insurers and stakeholders attended the two-day
forum. Keynote speakers included remarks from Governor Dannel P. Malloy of
Connecticut, Manuel Aguilera-Verduzco, President of the National Insurance
and Sureties Commission of Mexico, and David Sampson, President and CEO of
the Property Casualty Insurers Association of America. Panel topics
included enhanced group supervision, supervisory colleges best practices,
corporate governance, and capital standards.
for more information on the forum.
for Commissioner Hamm's opening remarks.
for Governor Malloy's remarks.