Regulatory – Page 11

Solvency II Solvency II came into effect on 1 January 2016 en.wikipedia.org/wiki/Solvency_II#:~:text=Solvency%20II%20is%20a%20Directive,reduce%20the%20risk%20of%20insolvency. Europa – Risk management and supervision of insurance companies (Solvency 2) – [link] Bank of England – Solvency II- [link] 2006 – JIR / NAIC – Modernizing Insurance Solvency Regulation: Evidence from the UK – 21p With respect to insurance companies, Douglas et al.…

Capital Standards ICS – Insurance Capital Standards – IAIS Spencer BACHUS (R-AL) – I believe to protect those that are relying on the bond insurers’ capitalization, I believe the superintendent of the New York Insurance Department could have raised the capital standards. Governor SPITZER. Sir, I think you misapprehend— Spencer BACHUS (R-AL) I believe there…

Policyholder Protection Consumer Protection 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. (p36) — Prepared Statement of Kevin M. McCarty, Commissioner Florida Office of Insurance Regulation – On Behalf of the National Association of Insurance 2015 0428 – GOV…

Bank-Like The regulation provides for the pre-funding of cash values, so that the amounts will be available upon policyholder demand, and will not be contingent upon sufficient surplus being available at that time to cover what is the equivalent to a demand deposit. The regulation relies heavily on the NAIC Universal Life Insurance Model Regulation…

Macroprudential versus Microprudential Regulation Common Exposures Contagion Liquidity modeling Mass lapses macroprudential surveillance Systemic amplifiers Triggers NAIC Liquidity Stress Testing (LST) Framework NAIC MACROPRUDENTIAL INITIATIVE (MPI) – [link] Macroprudential Task Force (MPTF) of the American Academy of Actuaries Common Exposures 269 For instance, in 1991 six major life insurers, each with over $4 billion in…

Corridor Chairman Pete STARK (D-CA): Or, on the other hand, do you think we should get into more of the definition, as Mr. Gregg suggested we did in TEFRA, where we spell out percentages of cash value to face value? <Gregg, Thomas, National Association of Life Underwriters..> (p328) 1983 0510, 0511 and 0728 – GOV…

Deregulation It is an exciting time in the financial services industry today. Banks want to sell insurance. Insurance companies want to sell securities. Sears Roebuck wants to sell everything. I will discuss the insurance activities of banks and bank holding companies — Charles Eggleston, not a member of the Society, is a Senior Manager at…

IAIS – International Association of Insurance Supervisors iaisweb.org IAIS – Index IAIS – Documents IAIS – Holistic Framework IAIS – Universal Life Insurance COB – Conduct of Business NTNI – Nontraditional and Non-insurance Corporate Governance AAA – IAIS NAIC – IAIS iaisweb.org//supervisory-material/ Activities-Based Approach (ABA) Behavioral-Based Approach Comframe ComFrame Standards ComFrame Guidance Entity-Based Approach…

Business of Insurance McCarran-Ferguson Business of Insurance Regulatory Reform Act Dodd-Frank Act Michael McRaith 2022 0908 – GOV (Senate) – Current Issues in Insurance – Brown LC – Pireno Liqudation of Insurance Company Relationship Between Company and Insureds Supreme Court 2010 – Book – Regulating the Business of Insurance in a Federal System, By Joseph F.…

Principle-Based Reserving (PBR) REPORT ON THE RESULTS OF THE PRINCIPLE-BASED RESERVING STATE RESOURCE SURVEY Presented to the Principle-Based Reserving Implementation (EX) Task Force of the National Association of Insurance Commissioners NAIC Spring National Meeting Houston, TX April 6, 2013