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NAIC Pushes to Remove Bias Against Foreign Branches

The National Association of Insurance Commissioners is advocating for more flexibility for its regulated U.S. insurers to operate both subsidiaries and branches in foreign countries without international supervision favoring the former over the latter.

By Elizabeth D. Festa | Updated on August 14, 2013

The National Association of Insurance Commissioners (NAIC) is advocating for more flexibility for its regulated U.S. insurers to operate both subsidiaries and branches in foreign countries without international supervision favoring the former over the latter.

The NAIC is concerned, for example, that the international regulatory community has stated that the lack of a board of directors at the branch level may limit the host supervisor’s ability to manage governance arrangements effectively.

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