Insurance companies judged too big to fail are likely to face different rules than their banking counterparts, who were told this week that they will be subject capital surcharges, insurance industry standard setters said on Friday. The International Association of …
While U.S. regulators are beginning to be worried about the impending imposition of the European Union’s Solvency II regulations for the re/insurance industry, which will come into force in 2014, Bermuda has been working on accommodating its regulations with Solvency …
The Willis Research Network (WRN), the academic and analysis arm of Willis Group Holdings, has founded the Willis Research Network Economic Capital Forum at Georgia State University (WRN-ECF) with partners at Risklab, ETH Zurich and the Risk Management Institute, National …
A top accounting rules setter said on Thursday it was well on the way to becoming the global standard in a veiled hint that the United States should get on board or risk being isolated. In roughly a decade, adoption …
While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory bodies who are also considering some new rules that will affect not only the EU, but also the …
Arctic nations agreed on Thursday to improve cooperation including on preventing oil spills as a thaw of ice and snow opens access to the remote region’s rich mineral and petroleum resources. The Arctic Council, comprising eight countries that surround the …
A new poll, conducted at a recent Towers Watson Solvency II seminar, concludes that “almost half of insurers do not have an effective way of measuring and managing the risk culture within their organization.” As a result, Towers Watson warned …
In a response to the proposals to restructure the UK’s financial regulations the Lloyd’s Market Association (LMA) has taken issue with some of the proposals, which, in its view are “over-engineered” and excessively “bank centric.” “The future regulation of the …
The Federation of European Risk Management Associations (FERMA) described the Brazilian government’s response to complaints about proposed changes in re/insurance regulations as “a good first step” in rolling back “restrictive executive orders,” which threatened to undermine recent legislative reforms governing …
The UK’s Conservative government announced, even before it was elected, that it planned to reform the country’s financial regulatory system – for banks, investment providers and the insurance industry. On February 11, 2011 it released the proposals it has been …
