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NAIC Leadership Participates in ABIR Webinar in Bermuda
On Oct. 5, 2021, David Altmaier, NAIC President and Florida Office of Insurance Regulation Commissioner, and Dean Cameron, NAIC President-Elect and Idaho Department of Insurance Director, participated in a roundtable webinar, “Leveraging International Reinsurance to Address the #Climaterisk #ProtectionGap.” Commissioner Altmaier, Director Cameron, and other participants contemplated a variety of topics surrounding the role of reinsurance while addressing the climate protection gap as well as the work of the NAIC Climate and Resiliency Task Force and progress on implementation of the 2019 Credit for Reinsurance model revisions. Other participants included Gerald Gakundi, Director of Insurance Supervision, Bermuda Monetary Authority (BMA) and Suzanne Williams-Charles, Director of Policy and Regulation, Association of Bermuda Insurers and Reinsurers (ABIR). The event was organized by the ABIR, and moderated by Jeff Manson, ABIR Climate Committee Chair and Senior Vice President, Underwriting and Head of Global Public Sector Partnership, RenaissanceRe. Over 150 people registered to virtually attend the webinar, which featured the in-person discussion of participants in Hamilton, Bermuda.
While in Bermuda, Commissioner Altmaier and Director Cameron met with BMA senior staff; Bermuda’s Premier, the Hon. E. David Burt; Finance Minister, Curtis Dickinson; and ABIR Board members.
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.