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Commissioner Glen Mulready Participates in ASSAL Regional Training Seminar
On Thursday, September 22 and Friday, September 23, Commissioner Glen Mulready (OK) participated virtually in the ASSAL Regional Training Seminar: Challenges of Insurance Systems in Latin America. On Sept. 22, Cmr. Mulready highlighted the US’ risk-base capital regime, and discussed supervisors ongoing efforts in continuing to refine it. On Sept. 23, Cmr. Mulready presented on US State Insurance Commissioners’ response to the COVID pandemic, especially regarding efforts to ensure the functioning of insurance markets and education and safety of consumers. Specifically, Cmr. Mulready stressed the importance of good relationships with industry and the flexibility of regulators as imperative during periods of crisis.
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.