INSURANCE SUPERVISORS COLLABORATE AT EU-U.S. INSURANCE DIALOGUE NOV. 19, 2025

The following information was released by the National Association of Insurance Commissioners (NAIC):

Working together to protect consumers and market stability across international borders, state insurance regulators participated in aEU-U.S. Insurance Dialogue Project Public Stakeholder Session on Nov. 14. The meeting followed the conclusion of the International Association of Insurance Supervisors' (IAIS) 2025 Annual Conference, where the regulators were representing the National Association of Insurance Commissioners (NAIC) and participating in multiple sessions.

The focus of the meeting was to discuss anew report documenting progress by both U.S. and European regulators in sharing best practices on financial oversight, natural catastrophe risk mitigation, and supervisory approaches to the use of artificial intelligence. U.S. regulators from Iowa, Wisconsin, and California discussed state-led efforts to improve data and financial oversight of insurance companies in order to identify coverage gaps and protect market integrity.

"The challenges facing regulators and markets transcend jurisdictions. This year's Public Stakeholder Session provided insurance supervisors from across the Atlantic with the opportunity to exchange experiences and identify common supervisory approaches to issues of mutual concern," said Iowa Insurance Commissioner Doug Ommen.

"The dialogue reaffirmed the importance of close cooperation between European and U.S. supervisors, which is essential for ensuring robust insurance markets," said European Insurance and Occupational Pensions Authority (EIOPA) Chairperson Petra Hielkema. "As we look towards the future, our shared focus on climate resilience, technological innovation, and strong consumer protection will continue to guide our transatlantic partnership. By sharing insights and supervisory approaches, we strengthen not only our own supervisory model, but the global insurance framework as a whole."

"The Project's summary report highlights the considerable work by the working groups relating to climate risk and resilience and innovation and technology, demonstrating a sustained commitment to continued sharing of best practices and empowering supervisors across the globe to most effectively adapt and continue protecting consumers," said Wisconsin Insurance Commissioner Nathan Houdek.

"Insurance companies operate across state lines and internationally, making it essential to learn from the best ideas of our colleagues, regardless of their origin. Collaborating with regulators from other states and countries enhances our ability to protect consumers and better equips our departments to adapt to rapidly changing market conditions. This collaboration results in more resilient markets that offer greater choices and protections for consumers on both sides of the Atlantic," said California Insurance Commissioner Ricardo Lara.

Under a non-partisan state-led effort, the NAIC adopted a multi-prong approach in 2024 to address the impact of increasing natural catastrophes. This National Climate Resilience Strategy includes using data to close protection gaps, creating a new flood insurance blueprint, expanding risk mitigation, and testing scenarios for long-term solvency.

Collaboration among U.S. and EU regulators helps identify the immediate lessons learned and innovative solutions that better protect lives, homes, and businesses in advance of future catastrophic events.

Established in 2012, the EU-U.S. Insurance Dialogue Project includes representatives of the NAIC, the Federal Insurance Office of the U.S. Department of the Treasury (FIO), the Federal Reserve Board, EIOPA, EU National Competent Authorities, and the European Commission (EC).

Speakers

Petra Hielkema

Chairperson, EIOPA

Nathan Houdek

Commissioner, Wisconsin Office of the Commissioner of Insurance

Ricardo Lara

Commissioner, California Department of Insurance

Doug Ommen

Commissioner, Iowa Insurance Division