National Association of Insurance Commissioners (NAIC) President and Alabama Insurance Commissioner Walter Bell was recently elected vice chairman of the International Association of Insurance Supervisors (IAIS) Executive Committee.
Bell was elected to his new post during the IAIS’ triennial committee meetings Feb. 12-15 in Dubai, UAE. IAIS members also elected Michel Flamée as chair of the committee. Flamée is vice chair of the Banking, Finance and Insurance Commission of Belgium.
Bell joins the Executive Committee as the association nears completion of recommendations on standard setting and implementation initiatives for the IAIS through 2012.
The task force also is also completing funding proposals for the association. Bell’s term as vice chair runs through the 2008 IAIS annual meeting.
The chairmanship of the IAIS became available when former Maine Superintendent and 2006 NAIC President Alessandro Iuppa stepped down to pursue a career in the private sector. Iuppa had been chair since 2004.
The IAIS is comprised of insurance supervisors from 180 jurisdictions and is responsible for developing international standards and guidelines on insurance supervision. IAIS members also are engaged in training programs designed to assist in the implementation of IAIS standards throughout the world.
The NAIC is hosting the 2007 IAIS Annual Conference Oct. 16-18 in Ft. Lauderdale, Fla. The theme of the 14th annual program is entitled A Global Climate for Change – The Future of Insurance Regulation. Registration information for the conference is available at www.iais2007.org. Bell presented the NAIC’s conference plan to the IAIS Budget and Executive Committees at the February IAIS meeting.