The United States and Brazil have reached an agreement covering the exchange of information and technical assistance; cooperation among U.S. and Brazilian regulators; and educational seminars and training benefitting consumers in each country with the signing of a Memorandum of Understanding (MOU) at the Winter Meeting of the National Association of Insurance Commissioners (NAIC) here today.
Negotiations leading to the MOU were conducted in the International Regulatory Cooperation Working Group involving U.S. regulators and Agencia Nacional de Saude Suplementar (ANS) – Brazilian Federal Regulatory Agency for Health Plans and Health Insurance.
“With increased market activity in health plans, this mutual cooperation will improve the effectiveness in the administration of these plans and enforcing laws to protect consumers,” said Roger Sevigny, NAIC President and New Hampshire Insurance Commissioner. “This agreement will facilitate mutual assistance and the exchange of information between our two countries.”
“With today’s signing, parties to the agreement have set a framework for an ongoing dialogue on regulatory issues,” said Sandy Praeger, NAIC Chair of the International Insurance Relations Committee, the Health Insurance and Managed Care Committee and Kansas Insurance Commissioner.
This is the 11th such MOU the NAIC has reached with other countries on regulatory cooperation and the second with Brazil. A MOU was signed with Superintendencia de Seguros Privados (SUSEP) in 2006. The agency is responsible for the supervision of insurance, open private pension funds and capital markets in Brazil. NAIC is also negotiating an agreement with the Chinese Taipei who were present at today’s signing.
