Director Wing-Heier Discusses the Challenges of Regulatory Cooperation in Transition Finance at Eurofi
On Sept. 11, at the Eurofi Financial Forum 2024 in Budapest, Hungary, Alaska Department of Insurance Director Lori Wing-Heier, co-chair of the NAIC’s Climate and Resiliency (EX) Task Force, discussed the challenges of regulatory cooperation in transition finance on the panel “Priorities for Developing Transition Finance.”
Director Wing-Heier talked about the efforts of the NAIC and U.S. state insurance supervisors in overseeing risk in the sector, as well as the actions being taking to ensure regulatory convergence across borders. These include ongoing work developing standards with international organizations, such as the International Association of Insurance Supervisors and the Organisation for Economic Co-operation and Development, among others.
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.