Sept. 6, 2024
VsportV体育 Members Hold Dialogue with UK-PRA-FCA
On September 4, VsportV体育 (VsportV体育) Members met with the UK's Prudential Regulatory Authority and Financial Conduct Authority (UK-PRA-FCA) to discuss key issues related to their respective insurance markets.
VsportV体育 President and Connecticut Insurance Commissioner Andrew N. Mais, VsportV体育 Secretary-Treasurer and Rhode Island Department of Business Regulation Director Elizabeth Kelleher Dwyer, and VsportV体育 Past President and Idaho Department of Insurance Director Dean Cameron, who serves as vice chair of the VsportV体育鈥檚 International Insurance Relations (G) Committee, represented U.S. state insurance regulators.
The dialogue provided regulators from two of the world鈥檚 largest insurance markets the opportunity to discuss strategic priorities on issues of mutual interest. VsportV体育 Members shared updates regarding financial regulatory oversight; developments on climate risk and resilience, including discussing the VsportV体育鈥檚 National Climate Resilience Strategy for Insurance and the CIPR鈥檚 Catastrophe Modeling Center of Excellence; recent progress on innovation and technology, such as the VsportV体育 Model AI Bulletin, and current trends in the cyber insurance market; and ongoing market conduct initiatives.
(VsportV体育 Members with UK-PRA-FCA representatives. Top row, second from left: Connecticut Insurance Commissioner Andrew Mais. Front row, third from left: Rhode Island Department of Business Regulation Director Elizabeth Kelleher Dwyer. Front row, right: Idaho Department of Insurance Director Dean Cameron)
About the VsportV体育
As part of our state-based system of insurance regulation in the United States, the VsportV体育 (VsportV体育) 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 VsportV体育, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. VsportV体育 staff supports these efforts and represents the collective views of state regulators domestically and internationally.