Cayman’s Monetary Authority and the US National Association of Insurance Commissioners have committed to work together on regulatory issues.
According to a press release from CIMA the two entities recently signed a memorandum of understanding which CIMA said encourages a formal framework to exchange information.
It’s aimed at helping with compliance between local and international laws and regulations.
To date, CIMA has entered into 55 bilateral agreements and 6 multilateral agreements with regulatory authorities.
To read the full release: https://www.cima.ky/cima-signs-mou-with-insurance-commissioner-group