The National Association of Insurance Commissioners says the United States insurance sector reflects “wide observance” of core principles established by the International Association of Insurance Supervisors.
The finding came in a self-assessment that NAIC completed under the Financial Sector Assessment Program, according to the association’s Washington office.
Conducted worldwide, the FSAP is a joint project of the World Bank and the International Monetary Fund that addresses financial sector stability. The U.S. Treasury is the principal coordinating body. The self-evaluations measure regulatory rules and practices against internationally recognized standards and codes.