Ever since the financial crisis, the rate of change and the impact of the international regulatory community on insurers have been on the increase. Accounting standards for insurance contracts are under review by both FASB in the U.S. and the IASB internationally. Another major development is that the International Association . . . Read More
In today’s insurance market, companies face a choice of markets to target. Do we service the baby boom generation’s needs for retirement income? What about long term care and other healthcare needs? Do we look to the “Gen Ys” or “Millennials” who are just entering the marketplace and whose needs . . . Read More
In my last blog, I discussed the passage of the Risk Management and Own Risk and Solvency Assessment (ORSA) Model Act by the NAIC. The inspiration for this move was the need for the U.S. regulatory scheme to become more compatible with the EU and Solvency II requirements. There has been . . . Read More
The financial crisis has introduced the area of risk management to much of the Western World via news reports, blogs and tweets. This fact has not been lost on insurance regulators, with many jurisdictions working on requirements for insurers to prepare and file an Own Risk and Solvency Assessment (ORSA) . . . Read More
In “A Man for All Seasons” Sir Thomas More stated, “When a man takes an oath, he’s holding his own self in his hands. Like water. And if he opens his fingers then—he needn’t hope to find himself again …”. Principles are very much on the mind of worldwide insurance regulators . . . Read More