U.S. On Par With Global Insurance Norms: NAIC

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.