NAIC, BMA Hold Annual Bilateral Meeting in Hamilton, Bermuda
Last week, the National Association of Insurance Commissioners (NAIC) and the Bermuda Monetary Authority (BMA) held their annual bilateral meeting in Hamilton, Bermuda, to discuss strategic priorities on issues of mutual regulatory interest.
Participants from NAIC leadership included President and Connecticut Insurance Commissioner Andrew N. Mais, President-Elect and North Dakota Insurance Commissioner Jon Godfread, and International Insurance Relations (G) Committee Chair and Nebraska Department of Insurance Director Eric Dunning. Each side provided insights into their respective jurisdictions on several topics, including climate risk and resiliency, recent market developments, private equity ownership, and various initiatives at international standard-setting bodies.
(Photo above courtesy of BMA. Participants of the bilateral discussion from left to right: Shanna Lespere, BMA; Craig Swan, BMA; North Dakota Insurance Commissioner Jon Godfread; Connecticut Insurance Commissioner Andrew N. Mais; Nebraska Department of Insurance Director Eric Dunning.)
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.