FOR IMMEDIATE RELEASE
NAIC Engages on the Global Stage
U.S. insurance regulators participate in IAIS Annual Conference
WASHINGTON (Nov. 3, 2017) — Representatives from the National Association of Insurance Commissioners (NAIC) met this week in Kuala Lumpur, Malaysia for the International Association of Insurance Supervisors (IAIS) committee meetings, annual general meeting and annual conference.
"This week the IAIS finalized a variety of important projects, including updating a number of its Insurance Core Principles and other materials that serve to help make insurance supervision more effective and protect policyholders around the globe., said Ted Nickel, NAIC President and Wisconsin Insurance Commissioner. " We continue to work collaboratively with our colleagues at the IAIS on ongoing issues such as systemic risk and insurance capital standard developments," This year's annual conference, "Insurance Supervision: Looking Beyond ..." included representatives from IAIS member jurisdictions and interested stakeholders from around the world to discuss matters pertaining to insurance supervision. Topics discussed included current and emerging trends, risks and opportunities in the global supervisory landscape, financial education for consumers and an update on IAIS projects and priorities.
Nickel was joined in Kuala Lumpur by NAIC President-Elect and Tennessee Insurance Commissioner Julie Mix McPeak, NAIC Vice-President and Maine Insurance Superintendent Eric Cioppa, NAIC Secretary-Treasurer and South Carolina Insurance Director Ray Farmer, Connecticut Insurance Commissioner Katharine L. Wade, Oklahoma Insurance Commissioner John Doak, Washington Commissioner Mike Kreidler, California Insurance Commissioner Dave Jones, and NAIC CEO Mike Consedine.
The IAIS event provided the opportunity for NAIC representatives to hold bilateral and regional dialogues with insurance supervisors from Taiwan, Hong Kong, Thailand, Argentina, Bermuda, Bahamas, Brazil, Chile, Mexico, Panama, Peru, Germany, Switzerland, Quebec, Australia and South Africa.