Wolters Kluwer Financial Services, which provides regulatory intelligence, policy management, and process management products and services to help financial services organizations control and provide oversight to their compliance programs, reports that its insurance compliance products will be available to U.K. insurance companies that conduct business in the United States.
As more U.K. firms expand business into to the U.S., one of the biggest concerns is ensuring they are meeting regulatory requirements. This can be a challenging task because insurers doing business in the U.S. are regulated by the states and territories in which they operate, as well as the federal government. In addition to monitoring regulatory changes, insurers must research and assess the effect of the changes on their business, make sure they are implemented by the required effective dates, and properly document the implementations for regulators.
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