Finance

Finance

Azeri interns join insurance internship program in the United States

30 October 2009 09:08 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. The organization of state insurance commissioners welcomed 13 interns from Azerbaijan, China, Egypt, Saudi Arabia, Thailand and Zambia to the U.S. this week, NAIC reports.

The National Association of Insurance Commissioners (NAIC) has sponsored its International Internship Program for Education and Regulatory Cooperation since 2004. This week, 13 interns were welcomed at the NAIC Central Office in Kansas City.

The program seeks to advance working relations with foreign markets, emphasizing the exchange of regulatory techniques and technology.

"This program is an excellent opportunity for the NAIC to share its regulatory experience with the insurance community on an international scale," said Roger Sevigny, NAIC president and New Hampshire Insurance Commissioner. "With the globalization of the insurance industry, it is imperative that regulators from all points of the globe combine their knowledge and practices to provide a competitive insurance marketplace that offers solid financial solvency and strong consumer protection measures."

The interns were to participate in a five-day orientation program in Kansas City, focusing on the broad principles of insurance regulation in the United States. Each intern will then travel to a different state for six weeks, working in technical areas of their specialization under the supervision of a state insurance department staff member, who will serve as a mentor and host.

They are also scheduled to attend the 2009 NAIC Winter National Meeting in San Francisco. The internship program will conclude in Washington, D.C., with a debriefing program, a seminar with industry representatives and a certificate ceremony to highlight the internsâ€™ accomplishments.

The NAIC internship program is conducted twice a year in the fall and spring.

States and territories hosting the interns are Oklahoma, New York, Pennsylvania, Michigan, West Virginia, Hawaii, Puerto Rico, Vermont, South Carolina and the District of Columbia.