Even if one discounts the calamitous months that ended the year preceding it, 2009 was already shaping up to be an eventful year for insurance companies. Long-standing regulatory disputes regarding issues such as agent licensing, and the establishment of an optional federal charter were already percolating. So it's not much of a stretch to assume that given the subsequent meltdown of the financial services market - and the proclivity of politicians to pass sweeping legislation in the wake of such events - that such issues will likely come to a full boil in 2009.

While insurance regulation has traditionally focused solely on solvency - the concern was that companies had the financial wherewithal to make good on claims - new regulations will likely take a more holistic, enterprisewide approach. In light of recent events, in addition to protecting consumers from misconduct by insurers, insurance regulators will now be charged with protecting insurers from themselves.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access