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Ready To Grow Insurer Opportunities, United States Set To Sign Covered Agreement

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July 18, 2017

The US Department of the Treasury and the Office of the US Trade Representative recently announced their intent to sign the Bilateral Covered Agreement between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance. In addition to signing the Agreement in the coming weeks, the Administration also plans to issue a US policy statement on implementation.

This is an important step in making US companies more competitive in domestic and foreign markets and making regulations efficient, effective, and appropriately tailored.  Furthermore, the Bilateral Agreement benefits the US economy and consumers by affirming America’s state-based system of insurance regulation, providing regulatory certainty, and increasing growth opportunities for US insurers.

For more on this topic, read the articles "European Council Agrees To Sign EU-US Covered Agreement," "RIMS Backs Treasury Department's US-EU Covered Agreement on Reinsurance," "Transatlantic Re CEO Michael Sapnar Testifies in Support of Covered Agreement," "Insurance Industry Trades Voice Support for Covered Agreement," and "State Insurance Regulation Supported in US-European Union Agreement."

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