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NAIC Meets with Treasury Secretary Lew

12/17/13 Statement from Jim Donelon, NAIC President and Louisiana Insurance Commissioner

We are deeply appreciative of the time that Secretary Lew took today to meet with insurance commissioners from around the country to discuss our work together on issues that impact the insurance sector, particularly in the international arena. We are extremely pleased with the Secretary's statement of strong support for the state-based regulatory system. The focus of the meeting was on significant international developments, including the ongoing EU/U.S. dialogue and Solvency II, the inclusion of state regulators in the work of the Financial Stability Board and efforts to develop a global capital standard.

12/17/13 Statement from Senator Ben Nelson,
NAIC CEO

The meeting successfully builds on the strong working relationship state insurance regulators have with their federal counterparts and the NAIC looks forward to a continued dialogue on issues of mutual interest with the Treasury Department that strengthens our state-based system of regulation.

About the NAIC

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. For more information, visit www.naic.org.

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