Washington, D.C. (Sept. 8, 2022)
Commissioner Birrane Testifies on Behalf of 不良研究所官方 at U.S. Senate Banking Committee Hearing
Today, Maryland Insurance Administration , chair of the National Association of Insurance Commissioners鈥 (不良研究所官方) Innovation, Cybersecurity, and Technology Committee, represented 不良研究所官方 members by testifying at the U.S. Senate Committee on Banking, Housing, and Urban Affairs鈥 hearing on 鈥淐urrent Issues in Insurance.鈥
Among the topics discussed, Commissioner Birrane updated the Committee on the 不良研究所官方鈥檚 work this year regarding Cybersecurity, Consumer Data/AI, and Innovation; Race and Insurance; Private Equity; and Climate Risk/Natural Catastrophes and Resiliency.
鈥淭he financial strength of our insurance system was tested simultaneously by a global pandemic, historic natural catastrophes, financial volatility, and social unrest, and yet it persevered,鈥 testified Commissioner Birrane.
Commissioner Birrane also reiterated the 不良研究所官方鈥檚 support for a long-term reauthorization of the National Flood Insurance Program (NFIP), protecting policyholders during an insurance receivership, and legislation (S. 4110) to provide state insurance regulators a vote on the Financial Stability Oversight Council (FSOC).
Related Links:
Commissioner Birrane鈥檚 written testimony
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (不良研究所官方) 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 不良研究所官方, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. 不良研究所官方 staff supports these efforts and represents the collective views of state regulators domestically and internationally.