Tuesday, December 2, 2008, New York State Insurance Department (“NYSID”) Superintendent Eric Dinallo announced that the NYSID entered into a Memorandum of Understanding (“MoU”) with the Autorité de Contrôle des Assurances et des Mutuelles, France’s insurance regulator (“ACAM”).  The MoU formalizes the procedure for consultation, cooperation and coordination between the NYSID and the ACAM, and allows each regulatory authority to obtain and share information about regulated persons and entities.

According to Superintendent Dinallo, “This agreement cements our close ties with France and helps ensure policyholder protection in both our jurisdictions.”  As we reported herehere and here, the NYSID has entered into similar MoUs with Germany, the Bermuda Monetary Authority, Taiwan and the United Kingdom earlier this year.

Click here to read the NYSID press release.