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Lieutenant Governor Tregenza Roach left the territory Sunday to attend the National Association of Insurance Commissioners (N.A.I.C.) Executive Committee Interim Meeting, and Mid-Year Commissioners Roundtable Session in Rockport, Maine, the Office of the Lieutenant Governor has announced.
N.A.I.C. will host regulators and commissioners of insurance from across the 50 states, District of Columbia, and five U.S. territories to discuss several topics including: long term care insurance, health insurance, annuity suitability, and other regulatory related matters in plenary sessions and zone designated meetings, according to the release.
Standing committees on financial regulation standards, market regulation, consumer affairs, property and casualty insurance, health and life insurance, managed care, and international insurance relations will also present reports during breakout sessions, the release said.
“In attending past NAIC meetings and sessions, I received firsthand information on policies, laws, and regulatory initiatives that are relevant to existing and new developments in the insurance industry,” said the lieutenant governor. “I am always eager to learn more to keep the territory current on insurance matters and ensure that regulatory standards are met, especially as the Division of Banking, Insurance, and Financial Regulation continues to pursue accreditation.”
Mr. Roach will return to the USVI on June 28. During his absence, Senate President Novelle Francis will assume the duties of the lieutenant governor, as per the Revised Organic Act of the Virgin Islands.
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