Two committees of the National Association of Insurance Commissioners yesterday discussed the next steps to take in the wake of last week's terrorist attacks in New York and Washington, D.C.
In a joint conference call, the NAIC's International Insurers Department Plan of Operation Working Group and the Reinsurance Task Force discussed how best to monitor the activities of foreign insurers--particularly of those engaged in the global system of reinsurance. The two groups say they recognize that their obligations during this post-attack recovery period are crucial to U.S. financial markets.
"We are gathering exposure data from all affected reinsurers," said NAIC Vice President and Iowa Insurance Commissioner Terri Vaughan. "In particular, we are in contact with Lloyd's and the London International Underwriting Association to gather their exposure data."
