Regulators Engage in a Virtual Dialogue with Bermuda Monetary Authority
The NAIC and the Bermuda Monetary Authority (BMA) held a virtual meeting to discuss strategic priorities on issues of mutual regulatory interest. Participants from NAIC leadership included David Altmaier, NAIC President and Commissioner, Florida Office of Insurance Regulation; Dean L. Cameron, NAIC President-Elect, and Director, Idaho Department of Insurance; 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; Gary D. Anderson, Chair, NAIC International Insurance Relations (G) Committee and Commissioner, Massachusetts Division of Insurance; and Michael F. Consedine, NAIC Chief Executive Officer (CEO). The NAIC provided updates on a variety of its initiatives, including climate and resilience, the NAIC Reciprocal Jurisdiction Framework, global Insurance Capital Standard (ICS) comparability, the State Ahead strategic plan, and responses 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.