NAIC - Kevin M. McCarty, Commissioner Florida Office of Insurance Regulation, On Behalf of the National Association of Insurance
The fundamental tenet of our U.S. system is to protect policyholders by ensuring the solvency of the insurer and its ability to pay insurance claims. Written Testimony - (p2) - 6p
Examining The Unique Aspects Of The Insurance Industry, The Development And Implications Of Domestic And International Capital Standards, And Evaluate The Current State Of Insurance Regulation In The United States And Abroad
Senate - Committee on Banking, Housing, and Urban Affairs
Richard Shelby (R-AL) - Chair
As a liability-driven business, insurance often has long-term cash flow patterns compared to shorter-term activities at banks.
Consequently, current law fails to adequately account for the business model and risk profile of insurance companies, and that should concern us all.