Maryland Insurance Department Hosts Regulatory Interns from China

December 5, 2008

The Maryland Insurance Administration is hosting of two international interns from China through the National Association of Insurance Commissioner (NAIC)’s International Internship Program.

From the China Insurance Regulatory Commission, Yan Dong of the Finance and Accounting Division in Beijing and Jin (Janet) Dai, the assistant director of Property Insurance Division in Chongqing, China are the guests of this agency for the month of November
learning about insurance regulation in the U.S.

Dong conducts financial analysis and administers the Chinese Insurance Security Fund. Dai reviews company licensure and conducts on-site inspections and analysis of company practices.

“Recent economic events have further demonstrated how connected the international financial markets are,” said Ralph S. Tyler, Maryland Insurance Commissioner. “This is a wonderful opportunity to share each others regulatory practices and learn from each other for the security of our financial markets and our citizens.”

The two interns began their journey with other international interns at the end of October in an overview of state-based insurance regulation with the NAIC to launch the Fall 2008 intern class.

Since then, the Chinese visitors have been participating in sessions with specific agency units and staff to learn about how Maryland regulates insurance from financial solvency to market conduct and licensing to consumer outreach.

Their program is to include a local onsite examination of an insurance company and enforcement investigation of a local producer, as well as a tour of certain domestic insurance companies.

Source: Maryland Insurance Administration
www.mdinsurance.state.md.us.

Was this article valuable?

Here are more articles you may enjoy.