Lt. Gov. Tregenza A. Roach leaves the territory Monday to attend the National Association of Insurance Commissioners (NAIC) Mid-Year Roundtable meeting in Newport, Rhode Island.
The NAIC organization is responsible for establishing insurance standards and serves as a primary lead for regulatory oversight of the insurance industry, according to the Lieutenant Governor’s Office.
In his capacity as the Commissioner of Insurance for the U.S. Virgin Islands, Roach serves as a member of the NAIC Southeast (SE) Zone, which consists of 12 states and two U.S. Territories (Puerto Rico and the U.S. Virgin Islands), according to the press release.
The lieutenant governor’s participation in annual NAIC conferences and meetings is fully funded by the NAIC. Scheduled throughout the year, meetings are held primarily in the spring, summer, and fall. Participants discuss state affairs, receive updates on federal policies, climate risks and their impact on the industry, and discuss other regulatory matters, the press release stated.
Roach will return to the territory on Thursday. During his absence, Senate President Novelle E. Francis Jr. will assume the duties of lieutenant governor, as per the Revised Organic Act of the Virgin Islands, the release stated.
