James-Vickers-Willis-Re

James Vickers, Chairman of Willis Re International & Specialty, speaks with WRIN.tv during the 2015 IIS Global Insurance Forum on the impact of regulation, Solvency II equivalency and CommFrame.

Mr. Vickers sees Solvency II equivalency as helpful for a number of regimes. He believes regulation is necessary, but commonality will make the load lighter.

Mr. Vickers feels CommFrame is noble cause, but very difficult to execute. He is concerned that it will take a long time to implement, create complication and inconsistency.

Mr. Vickers would like to see regulation eased in terms of distribution and microinsurance. He also cautions about the law of unintended consequences, where well-meaning regulations, which seem sensible when enacted, producing perverse results. He believes inconsistency in regulation creates complexity and hinders business.

For more of our coverage of the IIS Global Insurance Forum, visit the WRIN.tv On Demand Library.

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