NAIC Hosts Fourth Annual Asia-Pacific Forum

HONOLULU, Hawaii, Dec. 1 -- The National Association of Insurance Commissioners issued the following news release:

The National Association of Insurance Commissioners (NAIC) hosted the Fourth Annual Asia-Pacific International Forum this week. The forum was held ahead of the NAIC's Fall 2017 National Meeting.

"The insurance world is rapidly changing and this forum allows us to discuss how insurance regulators and the industry are embracing the digital age," said Ted Nickel, NAIC President and Wisconsin Insurance Commissioner. "Growth in the insurance sector in the Asia-Pacific region is unmatched anywhere else in the world and our dedication to regulatory coordination is not only timely, but crucial to our continued success."

The forum offered regulators and industry members an opportunity to discuss a number of issues facing the U.S. and the Asia-Pacific region. Topics included supervisory responses to innovation in insurance, market conduct and policyholder protection, cybersecurity risks and the future of insurance in our rapidly digitizing world.

The forum hosted regulators from Brazil, China, Hong Kong, Japan, Panama, Singapore, South Korea and Taiwan, as well as industry representatives from the region's leading insurers.

About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit www.naic.org.