The U.S. state-based system of insurance regulation serves as the gold standard for coordination and collaboration both here at home and abroad. 

The state-based system's leadership was on full display as we hosted our 2026 NAIC International Insurance Forum in our nation's capital on May 7–8. This year saw a record 300 registrants from 20 jurisdictions.

The Forum's solutions-focused dialogue not only helps provide a picture of the challenges and opportunities facing the insurance sector, but it also empowers attendees as they work to make a difference.

After Virginia Insurance Commissioner and NAIC President Scott White got the first day underway with a keynote address (see below), our packed agenda explored topics including consumer education, closing protection gaps, political risk and uncertainty, cybersecurity, the changing nature of business models and investments, the microinsurance landscape, reducing health risk through technology, and more.

For our second day, we welcomed the International Association of Insurance Supervisors' leadership to discuss its current work and future outlook. There was also a timely discussion on best practices to close nat cat protection gaps and improve resiliency efforts worldwide.

A special highlight of the event came when Commissioner White, who also serves as a vice chair of the IAIS Executive Committee, honored outgoing IAIS Secretary General Jonathan Dixon for his nearly decade-long leadership of the IAIS.  

That's a wrap for this year's event, but we're already planning for our next installment. 

Mark your calendars and stay tuned! The 2027 NAIC International Insurance Forum will take place in Washington, D.C., on May 27–28.

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President's Keynote (as prepared for delivery)

Distinguished colleagues, partners, and friends from across the international insurance community—thank you for joining us and for the opportunity to speak with you today.

I would like to welcome you to the 2026 NAIC International Insurance Forum. It’s great to be back at such a lovely venue this year for another day and a half of outstanding discussions and networking.

Before we go further, I’d also like to acknowledge an announcement we made yesterday, naming Jeff Johnston as the NAIC’s CEO, effective June 1, 2026. I’ve had the opportunity to work with Jeff for many years and know he will do very well in this role. Congratulations, Jeff.    

As we gather, I am proud to let you know that you’re part of another record-breaking year for the Forum. We have 300 registrants from 20 jurisdictions, and this includes speakers from six continents. We strive to make this event a showcase of the international nature of the insurance sector, and we have done so again this year.  

Our sector is being reshaped by risks, challenges, and opportunities that cross state and international borders, including increasingly severe natural catastrophes, rapid technological changes, evolving investment markets, and shifting consumer expectations.

Regulators around the world face the same balancing act: how to protect policyholders while enabling innovation and maintaining safe, stable, and competitive markets.

As individual U.S. state insurance regulators, we have learned over the years that we are only as strong as our neighbors, and the same holds true across international borders. That is what makes engagement with our colleagues around the globe so important as we strive to ensure a sound environment for insurance consumers.

That engagement keeps us quite busy. For example, in 2025, NAIC Members and staff participated in 35 different international events, leveraging the diverse perspectives and skills of our membership and staff to engage with our counterparts abroad.

We are making strides to further enhance existing relationships. As of April, this includes the NAIC becoming an associate member of ASSAL, the Association of Insurance Supervisors of Latin America.  

We also maintain our dedication to the International Association of Insurance Supervisors, the Organisation for Economic Co-operation and Development, and other multilateral organizations, and we are heartened to see insurance and resiliency issues become areas of focus for organizations such as the International Monetary Fund during its spring and annual meetings.

Also, this week, our International Fellows Program, which is now in its 21st year, is completing its spring session, with 209 Fellows participating from 42 jurisdictions. Both numbers are records for our virtual version of the program.

As the risks, challenges, and opportunities facing the insurance sector continue to evolve, three words speak directly to this situation and capture state insurance regulators’ approach: leadership, modernization, and resilience. While this thinking drives our domestic goals and strategic priorities, it also signals how the U.S. state based system intends to collaborate globally and contribute to a safer, more adaptive insurance sector.

The NAIC emphasizes leadership rooted in our 56 members representing every U.S. state, the District of Columbia, and five U.S. territories. 

As we think about our Members, I want to take a moment to remember two of our former colleagues who recently passed. Former Maine Bureau of Insurance Superintendent and NAIC President Eric Cioppa and former Maryland Insurance Commissioner Kathleen Birrane were not only colleagues but friends, and we will miss them dearly.

Both Eric and Kathleen were active throughout the NAIC and pivotal to our work on the international stage, demonstrating leadership reflecting their unique areas of expertise.

Such diversity of expertise, insight, and backgrounds is one of the strengths of our state-based system, and it is essential for navigating today’s risk landscape.

Leadership, in the context I mentioned previously, means:

• Setting clear expectations for emerging technologies, including AI model governance and cybersecurity oversight.
• Strengthening capital and investment frameworks to ensure insurers can meet long-term promises to policyholders even in volatile markets.
• Providing regulatory clarity that supports responsible innovation rather than stifling it.

Internationally, this leadership plays out in our engagement in cross-border dialogue on topics such as natural catastrophes, AI use and ethics, solvency standards, and data governance—all areas where global collaboration is increasingly necessary.

Part of this work includes sharing resources and leveraging local knowledge for national and international benefit. At the NAIC, we have been working diligently to develop programs and resources that are easily accessible to regulators domestically and abroad. For example, our educational resources and materials are online and readily available to regulators both in the U.S. and globally.

So, we are striving to strengthen and elevate the tools and talent of regulators and working in tandem with our counterparts globally as they do the same.

As we look at the priority of modernization, it is not merely a catchphrase or buzzword; it is a mandate. What started years ago with our State Ahead and State Connected strategic plans to enhance our processes, support, and resources for state insurance regulators continues as we endeavor to protect consumers and markets not only in the moment but for years to come.

As regulators, we need to make informed, data-driven decisions for the sake of our consumers, and the NAIC is investing heavily in data architecture, predictive analytics, and early warning capabilities to support more proactive supervision by our members.

This includes:

• Enhancing the NAIC’s role as a data aggregator and analytics provider to regulators
• Expanding market analysis tools to identify risks earlier and more accurately. 
• Updating regulation to better reflect the modern insurance market and investment environment.
• Piloting AI evaluation tools to help regulators assess insurers’ use of algorithms.

For global insurers and regulators, this modernization effort is an invitation: the future of supervision must be collaborative, data rich, and technology enabled. The NAIC’s work mirrors similar initiatives in other jurisdictions, creating opportunities for shared learning and harmonized approaches.

Finally, there is resilience. As natural disasters intensify and protection gaps widen, state insurance regulators and the NAIC are focusing on regulation, mitigation, and public sector partnerships to strengthen preparedness and recovery. 

Key initiatives include:

• Developing guidance on catastrophe modeling through our Catastrophe Risk Management Center of Excellence, as well as climate disclosures and stress testing.
• Encouraging resilience measures that reduce losses before they occur.
• Coordinating with the relevant agencies to bridge insurance and public sector resilience efforts.

We know this work resonates globally. Whether it is wildfires, floods, hurricanes, or earthquakes, resilience is now a shared regulatory priority.

For example, we have seen the growing success of risk-mitigation grant programs. What started in Alabama has spread to other parts of the country and to address other types of perils. And, in our discussions with colleagues across the globe, we see there is significant interest elsewhere. This is just one approach among many that contributes to a growing international consensus that climate-related risks require both regulatory innovation and cross-border cooperation.

Leadership, modernization, and resilience are not isolated goals—they are mutually reinforcing. Together, they form a blueprint for a regulatory system capable of protecting consumers, supporting innovation, and strengthening markets in an era of rapid change.

As I close, I want to thank the NAIC staff for their hard work putting this event together and helping make sure we’re all in the right place on time. And I want to thank each of you for taking time to be here. Some of you have traveled from across the world and the lucky ones from just across town. We appreciate your participation here with us.  

The NAIC is a collaborative partner in shaping the future of global insurance regulation, and you’ll see that reflected in our agenda as we hear a variety of informed viewpoints on some of today’s most pressing issues.

Just as we face these challenges together, we will find the solutions together, and we have a great opportunity ahead of us in the next day and a half to make progress on that goal.

Thank you again for joining us, and I look forward to a future of productive collaboration with all of you.