Julie Mix McPeak, NAIC Vice President and Tennessee Insurance Commissioner, signed on to the International Association of Insurance Supervisor's (IAIS) Multilateral Memorandum of Understanding during the NAIC's Fall 2016 National Meeting. The IAIS MMoU is a global framework for cooperation and information exchange between insurance supervisors.
Including Tennessee, 14 states are now part of the IAIS MMoU, and there are more than 60 signatories worldwide.
The MMoU was adopted by the IAIS in 2007 to promote close cooperation and information exchange amongst insurance supervisors to enhance supervision of international insurance groups. The MMoU provides a tool for this cooperation and information exchange between signatory authorities regarding the supervision of insurance companies.