SAN DIEGO–The National Association of Insurance Commissioners (NAIC) Executive Committee has voted to appoint a staff designee to the International Association of Insurance Supervisors (IAIS) Executive Committee to bring consistency to NAIC messages to the IAIS.
Kansas Insurance Commissioner Sandy Praeger said now is a "critically important" time for the NAIC to be involved in IAIS discussions.
New Jersey Department of Banking and Insurance Commissioner Steven Goldman added that putting someone on the IAIS Executive Committee puts the NAIC on a more equal footing with European regulators.
An NAIC spokesperson said the representative would be NAIC International Counsel George Brady.
She noted the IAIS Executive Committee would still have to vote to approve such a measure, but she said an NAIC Executive Committee vote puts the NAIC in a stronger position.
All present members voted in favor of the measure.
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