FOR IMMEDIATE RELEASE

NAIC Hosts Third Annual Asia-Pacific International Forum
Forum builds on U.S. and Asia-Pacific relations

SAN DIEGO (Aug. 25, 2016) — The National Association of Insurance Commissioners (NAIC) hosted the Third Annual Asia-Pacific International Forum this week. The forum was held ahead of the NAIC’s Summer 2016 National Meeting.

Nearly two-thirds of the global insurance market is comprised of the Pacific Rim and Latin American regions.

“The importance of the Asia-Pacific region in the global insurance economy cannot be overstated,” said John M. Huff, NAIC President and Missouri Insurance Director. “Growth in the insurance sector in this region is unmatched anywhere else in the world. Our dedication and commitment to shared dialogue and regulatory coordination is not only timely, but critical to our shared success.”

The forum served as an opportunity to deepen relationships between regulators from the U.S. and the Asia-Pacific region. Topics discussed included the potential impact of the International Association of Insurance Supervisors (IAIS) work streams, natural catastrophes, retirement security, cybersecurity and the development of cyber insurance products and technological developments.

The forum hosted more than 35 regulators from the Asia-Pacific region and the U.S., as well as senior-level industry representatives from the region’s active insurers.

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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