Director Dean Cameron Participates in Thailand InsurTech Fair
On Saturday, October 8, Dean Cameron, Director of the Idaho Department of Insurance and NAIC President, delivered a recorded speech to the audience at the Thailand InsurTech Fair 2022 titled "How to Enhance Market Dynamism in the Digital World." Director Cameron provided an overview of U.S. state insurance supervisors' efforts to update insurance regulation in light of recent technologies. Notably, Director Cameron highlighted the work of the NAIC's newly established H Committee on Innovation, Cybersecurity, and Technology, especially on the key workstreams of big data and artificial intelligence, e-commerce, cybersecurity, privacy protections, and innovation in technology and regulation. Importantly, Director Cameron indicated that the NAIC's work does not occur in a vacuum, and collaboration amongst regulators will be imperative moving forward to ensure that regulation does not stifle innovation and markets remain safe.
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.