Insurance commissioner signs deal with UK regulators
South Florida Business Journal
The Florida Office of Insurance Regulation has signed a Memorandum of Understanding with the United Kingdom Financial Services Authority to work together on issues relating to the regulation of financial matters under each of the agencies’ purview.
The agreement formalizes an informal agreement on sharing information and coordinating investigations.
“In our increasingly volatile globalized market, a proactive approach to regulatory cooperation is critical for our responsibilities regarding the monitoring of financial solvency and general policyholder protection,” Florida Insurance Commissioner Kevin McCarty said in a news release.
The agreement is similar to one that Florida entered into with the German regulator BaFin last month.