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NAIC Statement on Covered Agreement Negotiation

Statement of Monica J. Lindeen NAIC President and Montana Commissioner of Securities and Insurance:

"Today, state insurance commissioners, on behalf of the broader NAIC membership, met with representatives from the U.S. Department of the Treasury and the United States Trade Representative regarding the initiation of a covered agreement negotiation with the European Union.  We have assurances from both agencies that state regulators will have direct and meaningful participation in those discussions, and our goal will be to preserve the integrity and strength of the state-based regulatory system for the benefit of U.S. consumers and companies."

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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