LIEUTENANT GOVERNOR ROACH OUT OF TERRITORY FOR NAIC COMMISSIONERS MEETING

Lieutenant Governor Tregenza A. Roach, Esq will leave the Territory today to attend a National Association of Insurance Commissioners (NAIC) meeting in Washington, DC.  The NAIC organization is responsible for establishing insurance standards and serves as a primary lead for regulatory oversight on insurance relations and matters related to insurance policies.

In his capacity as the Commissioner of Insurance for the U.S. Virgin Islands, Lieutenant Governor Roach serves as a member of NAIC and actively participates. NAIC meetings also draw attendance from insurance regulators, industry representatives, and NAIC members from 50 states, the District of Columbia and five U.S. Territories.

Most recently, Lieutenant Governor Roach participated in the NAIC Spring Meeting where the Territory’s progress with the adoption of several model laws was discussed as well as additional work towards the accreditation of the Division of Banking, Insurance and Financial Regulation. NAIC Staff will also visit the Territory later this month to further evaluate our eligibility for candidacy.

Lieutenant Governor Roach will return to the Territory on May 9, 2019. During his absence, Senate President Kenneth L. Gittens will assume the duties of the lieutenant governor, as per the Revised Organic Act of the Virgin Islands.