2014 0310 - Letter - Sheila C. Bair to Senator Sherrod Brown (D-OH) - 6p
I question the argument that insurance organizations should have weaker bank/thrift holding company protections because their insurance policy holders can’t easily cash out if they make bad investments.
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.
Woodall, McCarty, McRaith, Mark Van Der Weide
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
Examining Insurance Capital Rules and FSOC Process - Examining the Federal Reserve's Implementation of the Collins Amendment to Tailor Capital Rules for Insurers on FSOC's Designation Process for Nonbank SIFIs and for International Capital Developments for Insurers