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FSOC's Woodall troubled by IAIS's proposal to limit involvement; others weigh in

The ability for international authorities to confer with policymakers with authority for financial stability in the insurance sector would be greatly hindered under an International Association of Insurance Supervisors (IAIS) proposal to basically… 1,327 more words

NAIC does its housework, ponders internat'l stance amid concerns

Reports from the National Association of Insurance Commissioners (NAIC) summer meeting in Louisville, Ky., demonstrate a desire for the United States to take a uniform national position in international insurance capital regime debates, work on a better way to achieve sound corporate governance and make progress on the reinsurance framework for captives. 910 more words

Renewed FACI to meet Thursday, group now weighted with industry execs

The Federal Advisory Committee on Insurance (FACI) meets today, Aug. 7, in Washington, with a slate of new members. For the first time, industry participants outnumber state regulators. 879 more words

House TRIA drama upstages Senate's passage of bill

July 17–The Senate passage of a seven-year extension Terrorism Risk Insurance Program Reauthorization Act of 2014 (S. 2244) 93-4, complete with the package of National Association of Registered Agents and Brokers legislation (NARAB II) as an amendment, doesn’t mean the package will move to a complete legislative bill ready to sign anytime soon. 1,443 more words

Consultant to examine NAIC governance procedures, external and internal relationships

UPDATED 7/16 10:30 am with NAIC education initiative news:

Seven months after Connecticut Insurance Commissioner Tom Leonardi recommended hiring outside consultants to conduct a thorough evaluation of the governance structure of the National Association of Insurance Commissioners (NAIC), its Executive Committee has finally decided to go forward with the move. 933 more words

Global BCR consultation open-as U.S. House Aprops tries to keep Feds in line with state insurance views

The International Association of Insurance Supervisors (IAIS) has issued its second consultation document on the global Basic Capital Requirement (BCR), the first capital underpinning for global insurers, beginning with the Global Systemically Important Insurers (G-SIIs), which include in the U.S.,  AIG, Prudential Financial and MetLife. 947 more words