Feb. 21, 2024
Massachusetts Insurance Commissioner Gary D. Anderson Speaks at Eurofi
On February 21, Massachusetts Division of Insurance Commissioner Gary D. Anderson, chair of the ΒιΆΉΤ΄΄βs International Insurance Relations (G) Committee, participated in a panel at the Eurofi High Level Forum titled βChallenges Facing Insurers.β Commissioner Anderson provided a snapshot of the U.S. insurance sector, noting its strength during the challenging macroeconomic backdrop (e.g., liquidity and credit risks, evolution of interest rates, etc.), and he also discussed the future of the ICS/AM comparability work.
Ahead of the meeting, Commissioner Anderson provided a more robust discussion about the strength of the U.S. insurance sector, including the development of the Risk Based Capital approach in the U.S. and the efforts state insurance supervisors and the ΒιΆΉΤ΄΄ take to ensure it captures climate and other evolving risks, in The Eurofi Magazine. You can read his article (page 101).
ΒιΆΉΤ΄΄ the ΒιΆΉΤ΄΄
As part of our state-based system of insurance regulation in the United States, the ΒιΆΉΤ΄΄ (ΒιΆΉΤ΄΄) 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 ΒιΆΉΤ΄΄, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. ΒιΆΉΤ΄΄ staff supports these efforts and represents the collective views of state regulators domestically and internationally.