The International Association of Insurance Supervisors (IAIS) announced that the Illinois Department of Insurance (IDOI) has become a signatory to the IAIS Multilateral Memorandum of Understanding (MMoU), enabling participation in an international supervisory cooperation and information-exchange arrangement. The MMoU sets a global framework for compliance and confidentiality to support cooperation among insurance supervisors. Admission requires applicants to undergo an independent IAIS assessment of their professional secrecy regimes, after which signatories can exchange relevant information and assist one another in supervising cross-border insurance operations. IAIS noted that membership has expanded since June 2009 and now represents about three-quarters of global gross written premiums.
International Association of Insurance Supervisors 2026-03-24
International Association of Insurance Supervisors admits the Illinois Department of Insurance to its Multilateral Memorandum of Understanding
The International Association of Insurance Supervisors announced that the Illinois Department of Insurance has joined the IAIS Multilateral Memorandum of Understanding, facilitating international supervisory cooperation and information exchange. The MMoU provides a global framework for compliance and confidentiality among insurance supervisors. Membership now covers approximately three-quarters of global gross written premiums.