The National Association of Insurance Commissioners (NAIC) announced that its Fall 2023 International Fellows Program in New York City ended with a closing session at NAIC’s Capital Markets & Investment Analysis Office. Eight regulators from five countries participated in the program to update their knowledge and engage in dialogue on industry topics. The program was aimed at enhancing international regulatory understanding through practical experience and professional development.
Delving into the specifics of the program, According to a press release issued Nov. 22 by NAIC, the program, which started on Oct. 9, included one week of training at the organization’s central office in Kansas City, Mo. There, fellows learned the nuts and bolts of insurance regulation in the U.S., and about activities NAIC carries out to support state-based regulation. They then spent five weeks working at various state insurance departments for exposure to state-level financial regulation, market conduct and licensing.
Providing historical context, According to the NAIC press release, the International Fellows Program's roots go back to 2005 when the association launched its International Internship Program. It changed the name in 2010.
Moving forward, According to the program's page on the NAIC website, every year the International Fellows Program is offered virtually in the spring and in person in fall. Participants must be nominated for the program, be well-qualified and proficient in English. They also must agree to work for their home agencies for a minimum of three years.
