Governor Branstad says the Global Insurance Symposium that gets underway in Des Moines tomorrow is geared toward its international participants.
“What’s important is for these international people to know the tremendous benefit of the state-regulated industry we have in America compared to the disaster they have in Europe,” Branstad says.
Banks generally regulate insurance companies in Europe, while regulations are still being written for insurance companies doing business in developing countries. Top regulators from India, Germany and Japan are set to attend this week’s event in Des Moines.
“I want them to really learn about how good, honest and effective our state-regulated insurance system is in America and how Iowa leads the way,” Branstad says. “Des Moines is the capital of insurance in America and we’re proud of that and we’re proud to bring them here and show all the exciting things that are happening in our capital city and in our state.”
The number of insurance jobs in Iowa has grown by 11.5 percent in the past decade and Des Moines has been steadily gaining on Hartford, Connecticut, which has been the leading U.S. insurance hub for decades. Hartford, however, lost almost as many jobs as Des Moines gained in the past 10 years, as more insurance cmpanies chose to relocate to Iowa.