A.M.BestTV at NAIC Fall Meeting: U.S. Commissioners Push Back on IAIS

OLDWICK, N.J.--()--In this A.M.BestTV episode from the National Association of Insurance Commissioners’ (NAIC) annual fall meeting in Washington, D.C., commissioners say they are concerned with decisions by international regulators at the International Association of Insurance Supervisors (IAIS) to close their meetings, and they question moves to require U.S. companies and regulators to abide by international capital standards.

“We really appreciate the NAIC trying to keep the pressure on the international regulatory community on the issue of transparency,” said Neil Alldredge, senior vice president, state and policy affairs, at the National Association of Mutual Insurance Companies. “The NAIC is finally beginning to make some positive strides on transparency – they still have a long way to go themselves, but they’re better than they used to be. But the IAIS is going the other way.”

Thomas Leonardi, commissioner at the Connecticut Insurance Department, and David Snyder, vice president, international policy, at the Property Casualty Insurers Association of America, discuss their differences with the IAIS’ planned international capital standard and the process in which it is being developed.

Click here to view the entire video program: http://www.ambest.com/v.asp?v=naic11114.

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Contacts

A.M. Best
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

A.M. Best
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com