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Regulators Engage in a Virtual Dialogue with Financial Services Agency, Japan
On June 3, 2021, the NAIC and the Financial Services Agency, Japan (FSA) met virtually for the biannual Insurance Regulatory Dialogue. Participants from NAIC leadership included David Altmaier, NAIC President and Commissioner, Florida Office of Insurance Regulation; Chlora Lindley-Myers, NAIC Vice President and Director, Missouri Department of Commerce and Insurance; Andrew N. Mais, NAIC Secretary-Treasurer and Commissioner, Connecticut Insurance Department; and Michael F. Consedine, NAIC Chief Executive Officer (CEO). The dialogue provided regulators from two of the largest insurance markets in the world to discuss strategic priorities on issues of mutual regulatory interest. The NAIC provided updates on a variety of its initiatives, including climate and resilience, the NAIC liquidity stress testing, the International Monetary Fund’s (IMF) Financial Stability Assessment Program (FSAP), and market developments in response to COVID-19.
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.