Sept. 22, 2025
Director Fox Discusses Regulatory Responses to Emerging Insurance Risks at Eurofi
On Wednesday, Sept. 17, while speaking at the Eurofi High Level Seminar in Copenhagen, Denmark, Michigan Department of Insurance and Financial Services (DIFS) Director Anita G. Fox discussed how U.S. state insurance regulators are addressing emerging risks in the insurance sector, including geopolitical fragmentation, the changing investment landscape, and climate risk and resiliency.
Specifically, Director Fox noted that geopolitical fragmentation, especially in the last 10 years, has likely had a large effect on U.S. insurer investments, including a significant reduction in investments outside the U.S. both in established markets and emerging markets. Additionally, given the shift in the investment landscape in the insurance industry, especially toward alternative investments and private equity, Director Fox noted that these new investments add a layer of complexity that regulators must understand. As such, she highlighted the ²»Á¼Ñо¿Ëù¹Ù·½â€™s work in modernizing the Risk-Based Capital (RBC) system to capture these risks and establish a more robust framework in the U.S. around insurer investments. Finally, she discussed state insurance regulators’ efforts to increase resiliency in the U.S., especially through the establishment of public-private resiliency programs.
Ahead of the Seminar, Director Fox explored the changing investment landscape and regulators' response in an op-ed in Views: The Eurofi Magazine ().
On the sidelines of the event, Director Fox held meetings with policymakers and industry leaders to discuss key regulatory initiatives in the insurance industry both in the U.S. and internationally.
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 (²»Á¼Ñо¿Ëù¹Ù·½) 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 ²»Á¼Ñо¿Ëù¹Ù·½, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. ²»Á¼Ñо¿Ëù¹Ù·½ staff supports these efforts and represents the collective views of state regulators domestically and internationally.