WRINtv Social Pulse

RT @fifthstep: Willis Re Chairman on the impact of regulation, Solvency II equivalence and CommFrame http://t.co/7oMWe7jymk @WRINtv
RT @tjohansmeyer: Fantastic interview on #microinsurance with Blue Marble CEO Joan Lamm-Tennant http://t.co/BbGMxaOq5g via @WRINtv #insuran
#VIDEO In connected age, social media supports #insurance #sales to pro vetters - @AgencyNation w/ @ACORD_Standards http://t.co/1pdfCrCAqO
Concern re: competition / reinvestment risk in US #LifeInsurance #HealthInsurance market @AMBestCo @WRINtv http://t.co/ce8Ta1a4iE
CEO Lamm-Tennant @BlueMarbleMicro on industry consortium developing #micronsurance protection in developing world http://t.co/IJCd4uhZws
RT @tjohansmeyer: Fantastic interview on #microinsurance with Blue Marble CEO Joan Lamm-Tennant http://t.co/BbGMxaOq5g via @WRINtv #insuran
CEO Lamm-Tennant @BlueMarbleMicro on industry consortium developing #micronsurance protection in developing world http://t.co/e37JTjuunt
RT @AGCEnvironment: .@ICMIF_web intros #SmartInvesting $3T to help build #resilience & #sustainable growth http://t.co/OL8RGyXjxA via @WRIN
RT @ACEGroupNA: ACE SVP Steve Laudermilch discussed predictive analytics and offered advice for risk managers w/ @WRINtv at #RIMS2015 http:…
CEO Lamm-Tennant @BlueMarbleMicro on industry consortium developing #micronsurance protection in developing world http://t.co/zxAfZsQRRt

Regulatory Update: First FIO Annual Report / Highlights of Congressional testimony by FIO and NAIC leaders

0

The Federal Insurance Office (FIO) released its first Annual Report on the U.S Insurance Industry. The long-awaited report gives overviews of the Life and Health and P&C sectors, and identifies issues and trends affecting the industry, including low interest rates, exposure to natural catastrophes, the aging U.S. population and increased life expectancy, and continued growth potential in Asia and Latin America. The report also reviewed domestic and international regulations, which remain a major concern among industry leaders.

On June 13, 2013, Congress held a hearing to discuss “The Impact of International Regulatory Standards on US Insurers.” Housing and Insurance Subcommittee Chair Randy Neugebauer opened the hearing, which heard testimony from FIO Director Michael McRaith and NAIC CEO Ben Nelson (featured in this report).

In a letter addressed to leaders of the House Subcommittee on Housing and Insurance, the AIA, NAMIC, PCI and The Financial Services Roundtable, also urged Congress to oppose international pressure to reshape U.S. insurance regulations that could put insurers at a competitive disadvantage. The letter voiced concern that politics at the IAIS and the FSB could result in more U.S. companies being classified as global systemically important insurers.

Share.

Comments are closed.