Nat Cat Risk Leads for NAIC at the OECD
The Organisation for Economic Co-operation and Development's (OECD) Working Party on Insurance and Pensions (WPIP) met on March 4–5 in Paris, France, as part of the OECD’s Spring 2026 Financial Markets Week.
During the meeting, the WPIP discussed topics including updated OECD insurer governance guidelines, an upcoming report on parametric insurance, and a draft report on digitalization and the future of insurance.
On March 5, California Insurance Commissioner Ricardo Lara participated in a panel as part of the launch of the new OECD Financial Protection Against Catastrophic Risks: Floods, Fires and Other Major Risks report. He spoke about the work states are taking on to address natural catastrophe risk and described efforts following the California wildfire. His remarks emphasized NAIC Members' unified approach to severe weather risks to ensure a more resilient future.
On the sidelines of the meetings, bilateral discussions were held with delegations from Costa Rica, Chile, and select European Union nations.
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.