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Tuesday House Hearing should bring U.S. approach to ICS into sharper focus

The NAIC meeting is kicking up a lot of talk on international capital standards, and position or positions of TEAM USA may come more into focus during a hearing of the House Financial Services Committee Nov. 402 more words

NAIC decries the member vote to end IAIS 'observer' status

Oct. 27, 2014, Washington — The National Association of Insurance Commissioners (NAIC) expressed strong opposition to the International Association of Insurance Supervisors (IAIS) vote to end observer membership status for non-members. 854 more words

IAIS develops BCR; U.S. weighs whether they are evolutionary or revolutionary

The International Association of Insurance Supervisors (IAIS) completed its first step in process to develop group-wide global insurance capital standards during its conference in Amsterdam. This week it announced that it had concluded development of the first-ever global insurance capital standard – Basic Capital Requirements (BCR) for global systemically important insurers (G-SIIs). 898 more words

NYU prof. sees possible life insurer failure from risky behavior Industry, NAIC, say nonsense

The C.V.Starr Professor of Economics at the New York University Stern School of Business said he sees systemic risk in the life insurance sector as companies deploy more regulatory arbitrage to reduce needed capital, push off liabilities and pursue riskier strategies that banks used to pursue. 1,230 more words

Feeling flush, NAIC is reducing some fees, costs in 2015 budget

The National Association of Insurance Commissioners (NAIC) is cutting back costs to insurers and others by reducing fees in assessments and database filing fees, areas where it has historically gotten much of its revenue. 1,125 more words

FIO wants national approach in key areas, is watchful in others

Washington-Sept. 24, 2014
In the U.S. Department of the Treasury’s Federal Insurance Office (FIO) newly-released second Annual Report on the Insurance Industry, there are a few glimpses into further action FIO might be considering beyond its standard “monitor and report on” response to state-by state variations and issues of concern. 693 more words