December 07, 2016
Missouri Department of Insurance hosts international regulator
Department welcomes 14th international fellow
Jefferson City, Mo. - The Missouri Department of Insurance recently hosted an international insurance regulator from Beijing, China. MS. Jia Jing, a member of the Inspection Bureau for the Chinese Insurance Regulatory Commission, spent five weeks with the Department of Insurance as part of the National Association of Insurance Commissioners’ (NAIC) International Fellows Program.
The International Fellows Program was developed by the NAIC in 2005 in order to advance working relations with foreign markets. Since its inception, the program has hosted nearly 260 participants from 32 countries. The program begins with a week-long orientation in Kansas City, Mo., after which the fellows each travel to a different state to begin working in the technical areas relating to their specializations.
“The International Fellows Program is a great opportunity for regulators from around the world to learn first-hand how the United States insurance industry is regulated,” said Missouri Insurance Director John M. Huff. “It allows them to experience a regulatory environment different from their own and to better understand the impacts those differences have on the market.”
During Jing’s time with the Department of Insurance, she was able to meet with a number of insurance companies located throughout Missouri. Jing visited Lockton in Kansas City, Mo., which is the world’s largest privately held independent insurance broker. She also spent time at RGA in St. Louis, Mo., which is one of the largest life and health reinsurance companies in the world. Her final meeting was with Shelter Insurance in Columbia, Mo., where Jing was involved in discussions relating to life insurance, product pricing, claims investigation and internal audit processes.
“I am so grateful to have this opportunity,” said Jing. “I have known about the International Fellows Program for a long time, and this year my dream came true.”
The International Fellows Program concluded in New York City where the NAIC hosted a ceremonial graduation dinner in honor of the fall program’s participants.
About the Missouri Department of Insurance, Financial Institutions & Professional Registration
The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.