2024 NAIC International Insurance Forum Wraps with Focus on Markets, the IAIS, and Consumer Protection
On Friday, May 17, state and international insurance supervisors, industry representatives, and interested parties reassembled for Day Two of the National Association of Insurance Commissioners' (NAIC) 2024 International Insurance Forum in Washington, DC.
After a packed agenda on Day One, Nebraska Department of Insurance Director Eric Dunning, chair of the NAIC's International Insurance Relations (G) Committee and event emcee, got Day Two rolling by introducing the International Monetary Fund's Tobias Adrian (Financial Counsellor & Director - Monetary and Capital Markets) to deliver the Forum's second keynote. Mr. Adrian examined the state of global financial markets and assessed the various risks and challenges facing them.
Then, Idaho Department of Insurance Director Dean L. Cameron led a panel discussion on the International Association of Insurance Supervisors' (IAIS) next five-year strategic plan, featuring IAIS Secretary-General Jonathan Dixon, Siham Ramli (Director of Communication and International Relations, Autorité de Contrôle des Assurances et de la Prévoyance Sociale, Morocco), and Susan Greenwell (Senior Vice President and Head of Global Government Relations, MetLife).
Secretary-General Dixon described current SPFO goals as adopting global insurance capital standards, strengthening bonds as a community of global supervisors, and collaboration with stakeholders on prescient issues, including climate risk, cyber, and fintech.
Our featured speaker for Day Two, Chuchatr Pramoolpol, Secretary-General of the Office of Insurance Commission (OIC) in Thailand, joined us to discuss the insurance landscape in Thailand and ways the OIC is addressing protection gaps in insurance. He also emphasized the strong bilateral relationship between Thai and U.S. insurance regulators.
To close out Day Two, NAIC President and Connecticut Insurance Commissioner Andrew Mais led a panel discussion that took a deep dive into closing protection gaps, including examining innovation in the insurance industry.
Dr. Guillermo Pedro Plate (Superintendent, Superintendencia de Seguros de la Nación, Argentina), Adam Rimmer (Chief Executive Officer and Co-Founder, FloodFlash), and Peter Windsor (Senior Financial Sector Expert, International Monetary Fund) shared their insights in a wide-ranging conversation that looked at the present and future and provided a great conclusion to this year's event.
The NAIC's International Insurance Forum showcases the collaboration among a diverse group of global insurance professionals that is key to keeping markets stable and consumers protected at home and abroad.
As this year's edition wraps, we're already thinking about our 2025 Forum. Mark your calendars to join us on May 29 and 30 in our nation's capital. Space fills up quickly, so stay tuned for further announcements early next year and don't miss out!
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is 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 reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.