NAIC Discusses Insurance Priorities at the Eurofi
At the Eurofi in Warsaw, Poland, National Association of Insurance Commissioners (NAIC) Chief Government Affairs Officer Ethan Sonnichsen joined the panel “Global Priorities for the Insurance Sector in the Next Political Cycle.”
In his remarks, Mr. Sonnichsen addressed the implications of increased investments in alternative assets such as private credit and private equity for the stability and risk profile of the life insurance sector, noting state insurance regulators’ initiatives to increase transparency around those investments. Additionally, Mr. Sonnichsen touched on how a changing global geopolitical landscape can affect the regulatory and supervisory agenda for insurance regulators, and he noted that the state-based insurance regulatory system in the U.S. creates a stable environment for NAIC Members whereby priorities remain consistent from year to year, allowing for substantial international coordination and development.
On the sidelines of the conference, NAIC staff held eight meetings with regulators and industry representatives to discuss, among other topics, the NAIC and state insurance regulators’ priorities, new risks in the insurance sector, and international collaboration.
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.