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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 Washington, D.C.

"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.

Click HERE for more information on the forum.
Click HERE for Commissioner Hamm's opening remarks.
Click HERE for Governor Malloy's remarks.
       

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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