The National Association of Insurance Commissioners will continue to stay engaged with global solvency initiatives to regulate insurers, its president told a European pensions group yesterday.
NAIC President Alessandro Iuppa, also Maine's insurance superintendent, stressed the group's focus on a principles-based system of insurance supervision in a keynote speech at the 2006 Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) Conference in Frankfurt, Germany.
“While the European Union currently goes through the process of introducing a new solvency regime, the NAIC too is in the process of reviewing our risk-based capital approach to solvency supervision,” he said.
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