"Uncertainty" sums up the regulatory environment for insurers in all lines in 2014, says Howard Mills, director and chief advisor of Deloitte's insurance industry group and former New York State Insurance superintendent.
"All of the regulations bode for higher capital standards for insurers, much heavier emphasis on consumer protection and risk management and governance," Mills says. "Companies are spending a lot of money on infrastructure, analytics and staff, preparing for that as we speak," Mills says.
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