State Insurance Regulators Share Coordinated Work to Oversee Markets During Meeting with U.S. Treasury

WASHINGTON, May 7, 2026 /PRNewswire/ -- Members of the National Association of Insurance Commissioners (NAIC) met today with U.S. Treasury Secretary Scott Bessent to share perspectives on the intersection of private credit and insurance and provide insight into state insurance regulators' oversight of insurers' risk management and investment practices as states continue working to guarantee insurers can keep their promises to policyholders.

State insurance regulators have long taken concrete steps to keep pace with insurers' increased exposure to private credit and other market developments. Today's meeting provided a forum to highlight how their collaboration and coordination advances this work.

"As markets rapidly evolve, the U.S. state-based system of insurance regulation continues to lead," said Rhode Island Department of Business Regulation Director and NAIC President-Elect Elizabeth Dwyer. "We appreciated the opportunity to meet with Secretary Bessent and share how state insurance regulators are leveraging effective oversight and enhancing risk-mitigation frameworks to promote stable markets and deliver strong outcomes for consumers."

"This Administration is a strong supporter of the state-based system of insurance regulation and supervision, and I appreciate the work that each of you do every day in your states to protect American consumers. Like all of you, my team at Treasury is monitoring the transformation of the U.S. life insurance industry and trends in private credit. I look forward to our continued engagement as we monitor the developments in both markets," said U.S. Treasury Secretary Scott Bessent in reference to state insurance regulators and their work.

Resources

U.S. Treasury Department release on the May 7, 2026, meeting

State insurance regulatory actions, featuring a timeline of how NAIC Members' solvency framework has continually evolved to address emerging risks, including those associated with private credit.

About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.

SOURCE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS