On behalf of the National Association of Insurance Commissioners (NAIC), we appreciate your leadership in proposing legislation aimed at enhancing certain aspects of our financial regulatory system. As financial markets continue to evolve, we understand that it is appropriate to periodically reassess regulations to ensure that they are achieving their intended purpose, appropriate for the business model they impact, and in the best interests of the consumers they are meant to protect. The bill includes several critical provisions for state insurance regulators that we believe will protect insurance consumers, help reduce systemic risk in our financial system, and encourage more transparency regarding international insurance standard-setting discussions.