International Regulatory Cooperation (G) Working Group
International Regulatory Cooperation (G) Working Group Page
Joint Executive (EX) / Plenary Committee Summary Report
Winter 2009 Meeting Summaries Index

The International Regulatory Cooperation (G) Working Group met Dec. 6, 2009. During this meeting, the Working Group:

• Discussed updates to the Regulatory Cooperation Section of the NAIC International Strategy and Action Plan. An amended version of the International Strategy and Action Plan was presented to the Working Group and accepted. It was decided that it would be forwarded to the International Insurance Relations (G) Committee for consideration.

• Discussed revised dates for the NAIC International Internship Program in 2010. The Working Group received an update on the fall 2009 internship program, which included 11 participants: one from Azerbaijan, five from China, two from Egypt, one from Saudi Arabia and two from Thailand. The next session will begin April 12, 2010.

• Discussed a proposed new international curriculum modeled around the introduction to the U.S. insurance regulation and supervision system that participants in the International Internship Program receive before heading out to their respective host insurance departments. With this program, international regulators would participate in a one-week program and then return home, as opposed to spending seven weeks in the United States, like the International Internship Program. The Working Group recommended moving forward with this proposal.

• Received a report regarding the recently held meeting of the International Association of Insurance Supervisors (IAIS)-Micro-Insurance Network (MIN) Joint Working Group held in Dakar, Senegal, in November. Working Group members heard an update on work being done on the access to insurance initiative, the “Issues Paper on the Role, Regulation and Supervision of Mutuals, Cooperatives and other Community-based Organizations in Increasing Access to Insurance Markets,” and The Group of Twenty (G-20) Finance Ministers and Central Bank Governors  Pittsburgh communiqué.

• Received reports on bilateral and regional developments, focused on Asia and Latin America, from NAIC staff and the American Council of Life Insurers.