Iowa View: It’s Iowa’s time to shine for insurance
May 20, 2014 by Nick Gerhart, Jay Byers and Debi Durham
Central Iowa will play a key role in shaping the dialogue on global insurance issues when it hosts the inaugural Global Insurance Symposium in Des Moines on Tuesday, Wednesday and Thursday.
As home to more than 200 insurance companies employing 40,000 professionals, Iowa is well suited to host the Global Insurance Symposium and assemble global leaders to discuss these critical issues.
For decades, Iowa has been committed to progressive and responsive policy that creates favorable conditions for the insurance industry to thrive. Indeed, the industry has, accounting for more than $11.8 billion in economic activity.
True to form, the industry has rallied around the Global Insurance Symposium, with a number of industry partners sponsoring this privately funded event.
The event will provide the opportunity for dynamic conversations among international and U.S. regulators and insurance leaders about issues and trends impacting the industry globally, including the changing regulations in the international insurance marketplace that are impacting U.S. companies.
Regulators from around the world, including from Japan, India, Germany and from the U.S. federal government, will converge in Des Moines to share insight. Many state commissioners and industry trade associations will examine issues, and insurance company leaders will offer their solutions for successfully addressing the complex global insurance regulatory landscape.
The symposium will also provide an opportunity to showcase how the United States’ unique state-based insurance regulatory system works so successfully. This critical dialogue will transcend borders, highlight the global nature of the insurance industry, and foster sharing and discussion of what practices may best prepare the industry for evolving regulatory requirements.
Des Moines hosts the annual World Food Prize, and Iowa is known globally for its agricultural contributions to the world food supply. In the same international spirit, the inaugural Global Insurance Symposium will allow Iowa to focus world attention on fostering ongoing international dialogue related to the insurance industry, so critical to Iowa’s economy.
THE AUTHORS:
NICK GERHART, left, is Iowa state insurance commissioner. JAY BYERS is CEO of the Greater Des Moines Partnership. DEBI DURHAM is director of the Iowa Economic Development Authority.