KANSAS CITY, Mo. (Oct. 2, 2023)
º£½ÇÂÛ̳ President Highlights U.S. Initiatives on Closing Protection Gaps
In a speech at the 2023 Taiwan Insurance Institute – Taiwan Insurance Guaranty Fund Enterprise Risk Management (ERM) Forum, º£½ÇÂÛ̳ (º£½ÇÂÛ̳) President and Missouri Department of Commerce and Insurance Director Chlora Lindley-Myers highlighted state supervisors’ work on closing protection gaps.
Regarding the gaps related to climate issues, Director Lindley-Myers described the work of the º£½ÇÂÛ̳’s Climate Risk and Resiliency (EX) Task Force, especially those workstreams that enhance and promote pre-disaster mitigation and resiliency education among consumers.
She also emphasized state insurance supervisors’ work through the º£½ÇÂÛ̳’s Special (EX) Committee on Race and Insurance to close protection gaps in underrepresented communities.
Ultimately, Director Lindley-Myers noted that closing protection gaps is something that must be addressed holistically, involving consumers, industry, and supervisors.
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As part of our state-based system of insurance regulation in the United States, the º£½ÇÂÛ̳ (º£½ÇÂÛ̳) 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 º£½ÇÂÛ̳, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. º£½ÇÂÛ̳ staff supports these efforts and represents the collective views of state regulators domestically and internationally.