NAIC Concludes its Fall 2023 International Fellows Program
This week, the National Association of Insurance Commissioners (NAIC) concluded its Fall 2023 International Fellows Program in New York City. Eight foreign regulators from five countries completed the program with a closing session at the NAIC’s Capital Markets & Investment Analysis Office. Fellows learned how the NAIC keeps state regulators updated on investment risks and trends in the market, held a dialogue with an NAIC funded consumer representative, and participated in an Industry Roundtable.
The full in-depth Fellows Program entailed a week-long training at the NAIC Central Office in Kansas City, MO, where participants learned how insurance regulation works in the U.S. and how the NAIC supports state-based regulation. Participants then worked for five weeks at a state insurance department, seeing firsthand how states approach financial regulation, market conduct, licensing, and many other aspects of regulation. Insurance departments in Connecticut, the District of Columbia, Iowa, Louisiana, Maryland, Ohio, and Virginia served as hosts for the fall program. More information on the full program can be found here.
International Fellows Program Background
Building on the success of the China Intern-Pilot Program in 2004, the NAIC developed a formal International Internship Program in 2005 to further working relations with foreign markets, emphasizing the exchange of regulatory techniques and technology. The program was officially renamed the International Fellows Program in 2010.
Note: The NAIC has moved to a hybrid format for the Fellows Program, offering it virtually in the spring and in person in the fall.
(Top: Fall 2023 International Fellows with NAIC staff and Industry Roundtable participants.)
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.