The National Association of Insurance Commissioners and the United States insurance regulatory community are committed to working closely with Europeans on the Solvency II project, said NAIC President Alessandro Iuppa.
He addressed delegates at a European Commission hearing in Brussels yesterday on global solvency issues. Mr. Iuppa's keynote speech, part of a public hearing on Solvency II, was attended by key stakeholders in the European insurance community.
Solvency II is a major project to develop a regime of insurance solvency that will work throughout Europe. In 2004, 10 new member countries were added, according to the organization.
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