Rhode Island Superintendent of Insurance Discusses Climate Risk and Resiliency at OECD Roundtable in India
On May 24, Beth Dwyer, Superintendent of Insurance for the Rhode Island Department of Business Regulation Division of Insurance, participated on two panels on insurance in a changing climate at the Organisation for Economic Cooperation and Development (OECD), Asian Development Bank Institute (ADBI), Insurance Regulatory and Development Authority of India (IRDAI) Roundtable on Insurance and Retirement Savings in Asia.
On her first panel, Superintendent Dwyer discussed industry developments and policy and regulatory challenges relating to climate risk and resiliency. She highlighted the work of the four workstreams of the NAIC’s Climate and Resiliency Task Force. During her second panel, “Contributing to Climate Resilience and Adaptation,” Superintendent Dwyer outlined her thoughts on the importance of regulators encouraging risk reduction and adoption. Notably, she focused on the NAIC’s work on pre-disaster mitigation; specifically, building-code adoption.
Taking place over two days, discussions focused on the key developments and challenges facing insurance and retirement savings in the region. The event was co-hosted by the OECD, ADBI, and the IRDAI, with sponsorship from the Government of Japan.
The purpose of the Roundtable is to exchange information on key developments in insurance and private pensions markets in the Asian region and to share experiences and good practices on key policy and regulatory issues among policymakers, regulators, and private sector participants from Asia and elsewhere.
(Rhode Island Superintendent of Insurance Beth Dwyer and fellow panelists.)
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.