27 November 2015Actuarial & underwriting

NAIC sets out updated plans

The National Association of Insurance Commissioners' (NAIC) Steering Committee of the EU-US dialogue project has delivered a status report on the project and future work plans. The report was delivered at a public meeting in National Harbor, Maryland, following NAIC's 2015 Fall National Meeting. Monica Lindeen, president of NAIC and the Montana insurance commissioner spoke at the forum, which more than 250 people attended. “US state regulators are committed, both through the NAIC and as representatives of the states we serve, to provide leadership and engage in discussion on a varied range of global insurance issues and activities through bilateral and regional dialogues such as these,” she said. “The US and the EU have a long-standing transatlantic partnership on insurance market regulation and supervisory cooperation which preceded and survived the financial crisis. I predict these ties will grow even deeper as our economies and insurance markets become even more connected.” Leading various panel discussions were NAIC John Huff. president-elect and Missouri insurance director; Kevin McCarty Florida insurance commissioner; and Senator Ben Nelson, chief executive officer of the NAIC. Representatives from the Federal Insurance Office (FIO) of the US Department of the Treasury, the European Insurance and Occupational Pensions Authority (EIOPA) and the United Kingdom Prudential Regulation Authority (PRA) also presented at the meeting.