Louisiana Hosts Saudi Arabia, Philippines Insurance Regulators

The Louisiana Department of Insurance is hosting insurance regulators from Saudi Arabia and the Philippines as part of the National Association of Insurance Commissioners (NAIC) International Fellows Program.

First established in 2004, the program aims to advance working relations with emerging foreign markets, with an emphasis on exchanging regulatory techniques and technology.

Eleven fellows are participating nationwide in the Fall 2015 program, including Louisiana fellows Emmanuel Dooc from the Philippines and Ahmed Aboemarah from Saudi Arabia.

The fellowship kicked off with a week-long orientation at NAIC headquarters in Kansas City, Mo., where the participants received training on the broad principles of insurance regulation in the United States. Each fellow then traveled to their designated host state for four weeks of hands-on training, working in technical areas of their specialization.

A 32-year veteran in the insurance industry, Dooc currently serves as the Commissioner of Insurance for the Philippines Insurance Commission. He was first appointed as Commissioner in January 2011 and again in December 2013 by the president of the Philippines. As commissioner, Dooc oversees a staff of more than 200 employees working to protect policyholders by analyzing, examining and monitoring entities the Commission oversees to ensure they are financially sound.

Prior to his appointment, Dooc served in the private sector in various capacities including senior vice president, general counsel and chief compliance and governance officer of the Philam Group and vice president for claims of the American International Assurance Company.

Aboemarah has been with the Saudi Arabian Monetary Agency (SAMA) for the past eight years where he serves as a legal consultant. In addition to providing legal counsel and representation to the agency, Aboemarah is also responsible for drafting rules, regulations and circulars for the agency. He also assists in investigating consumer complaints against insurers.

Both Aboemarah and Dooc said they are eager to spend time within the various offices in the department, hoping to borrow ideas to take back to their home country.

The International Fellows Program is fully funded by the NAIC and is conducted twice a year – spring and fall. The program concludes with training at the NAIC Capital Markets Bureau and Securities Valuation Office in New York, followed by a ceremonial graduation to highlight the accomplishments of the fellows.

With the completion of the Fall 2015 program, approximately 240 participants from 29 countries will have participated in the training program. Louisiana has hosted 17 fellows from five countries since first participating in the program in 2011.

Source: Louisiana Department of Insurance

Topics Legislation Louisiana Training Development