China, the world’s largest auto market, is likely to open its mandatory auto insurance market to foreign companies next year, chairman of the Insurance Association of China said on Wednesday. The 200 billion yuan ($31.53 billion) auto insurance market is …
Regulators should focus on insurers’ role in markets outside their traditional sphere, as such activities could worsen the economic impact of companies in the sector going bust, the International Association of Insurance Supervisors said in a report on Tuesday. The …
A new report from A.M. Best examines New Zealand’s non-life insurance market, which it describes as being “in a state of transformation as it grapples with prolonged earthquake activity in addition to regulatory developments.” The report, “New Zealand’s Insurance Market …
State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to complete, would – if adopted …
In an open letter The Geneva Association directly addressed the Finance Ministers and Central Bank Governors of the G-20 before their meeting in Cannes, France. It pointed out that amidst all of the concerns over the global economy in general, …
Xiang Junbo, the man named on Saturday to be China’s insurance regulator, recently led the country’s third-largest lender from near insolvency to a record IPO with assets worth more than India’s national economy. Now Xiang, a war veteran and screenwriter …
The U.S. Treasury Department’s Federal Insurance Office is seeking public comment for its report on how to improve the country’s insurance regulatory system. The study is mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The study aims …
Oil and gas companies must improve the way they deal with safety issues in the wake of the Gulf of Mexico and Montara oil spills, regulators said at a two-day conference on safety in the sector. The issue has come …
New York Department of Financial Services, the new department that combines the state’s insurance and banking regulators, was officially launched on Monday, Oct. 3. Financial Services Superintendent Benjamin Lawsky set the mission and announced the structure of the new department …
Insurers and employers will have to spell out plainly the costs and benefits of the health plans they offer starting next year. The rule announced by U.S. health officials Wednesday is designed to better inform people about health insurance choices …
