WASHINGTON (March 30, 2023)
Regulators Engage in a Dialogue with UK PRA-FCA
On March 27, 2023, the ÐÓ°ÉÊÓƵ and the UK's Prudential Regulatory Authority and Financial Conduct Authority met to discuss key issues related to their respective insurance markets. Participants from ÐÓ°ÉÊÓƵ leadership included Chlora Lindley-Myers, ÐÓ°ÉÊÓƵ President and Director, Missouri Department of Commerce and Insurance; Andrew N. Mais, ÐÓ°ÉÊÓƵ President-Elect and Commissioner, Connecticut Insurance Department; Gary D. Anderson, ÐÓ°ÉÊÓƵ International Insurance Relations (G) Committee Chair and Commissioner, Massachusetts Division of Insurance; and Ryan Workman, Assistant Director, International Relations and Policy, ÐÓ°ÉÊÓƵ.
The dialogue provided regulators from two of the largest insurance markets in the world the opportunity to discuss strategic priorities on issues of mutual regulatory interest, including climate risk and resilience; cybersecurity, innovation, and technology; key financial sector developments; and Diversity, Equity, and Inclusion (DE&I); as well as ongoing strategic work plans for 2023 and beyond.
About the ÐÓ°ÉÊÓƵ
As part of our state-based system of insurance regulation in the United States, the ÐÓ°ÉÊÓƵ (ÐÓ°ÉÊÓƵ) 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 ÐÓ°ÉÊÓƵ, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. ÐÓ°ÉÊÓƵ staff supports these efforts and represents the collective views of state regulators domestically and internationally.