Director Cameron Participates in OECD Meetings
On December 7-8, 2022, NAIC President and Idaho Department of Insurance Director Dean L. Cameron participated in two meetings of the Insurance and Private Pensions Committee of the Organisation for Economic Co-operation and Development (OECD) in Paris. On Wednesday, December 7, he participated in a joint session of the IPPC and the Working Party on Private Pensions (WPPP) on the impact of inflation and the current financial and economic uncertainty on pensions and insurance markets. Director Cameron presented a snapshot of the current state of the major lines of U.S. insurance, and highlighted the work of state supervisors to ensure that insurers remain solvent during periods of high inflation and market volatility.
On Thursday, December 8, Director Cameron participated in the OECD’s “High-Level Roundtable on Financial Protection Gaps,” providing insights on the panel “The role of catastrophe risk insurance programs in building financial resilience: policy considerations.” Director Cameron highlighted longstanding catastrophe risk programs in the U.S., including those on flood (national) and earthquakes (California). He noted that as natural perils continue to evolve, state supervisors, policy makers, and industry representatives must evolve with them, seeking new solutions to effectively manage existing cat. risk programs, as well as developing innovative and effective ways in protecting consumers.
(Director Dean L. Cameron - Dec. 8, 2022)
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.