Regulation and compliance
Regulation and compliance
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Results of a Towers Watson survey of risk calibrations being used for specific market and non-market risks, revealed that the largest challenges still include interest rates, credit spreads and mortality and lapse assumptions, with up to two-thirds of firms still looking to make considerable progress in these areas.
September 5 -
John Hancock, Pacific Life, Allstate and four others selected by CSC and its North American client community.
August 17 -
Delays in updating risk management only serve to damage credibility and open the door to unnecessary dangers.
August 17 -
Terri Vaughan will step down during the first quarter of 2013; National Association of Insurance Commissioners officers will conduct a national search later this year to fill the position.
August 13 -
International regulatory measures, including Solvency equivalency, highlight the AIAs talking points heading into the weekend.
August 9 -
Spreadsheet Workbench purchased by insurer in an effort to meet Solvency II requirements.
August 8 -
Insurance is among the industries found to have significant scanning requirements due to a continued reliance on paper, according to a recent survey.
August 7 -
Announcement of another state review comes days before NAIC's hearing on force-placed insurance slated for Thursday.
August 7 -
Insurers recent SEC filings indicate the Consumer Financial Protection Bureau is continuing its investigation into whether mortgage insurers are complying with federal real-estate law.
August 6 -
At an upcoming FACI meeting, international regulatory rules, including ComFrame, are expected to be the main topic of discussion.
August 3 -
International insurance execs question the IAIS and Financial Stability Board's consideration of criteria for, and oversight of, firms too big to fail.
August 1 -
For European insurers and U.S. insurers operating in the UK that also have to comply, Solvency II remains a question as the compliance deadline is looming, particularly as the final regulations have still not been clarified. This challenges preparation for Jan. 1, 2014, implementation, but insurers continue to make progress toward compliance with the risk and capital reporting regulation, and where possible, they have already put systems and processes in place, according to Deloitte's "Solvency II Survey 2012."
August 1 -
While the Federal Insurance Office (FIO) attempts to begin its work with the release of the offices first report pending, Rep. Ed Royce (R-Calif.), a senior member of the House Financial Services Committee, sent a letter to FIO Director Michael McRaith seeking more defined jurisdictions for the FIO and the National Association of Insurance Commissioners (NAIC).
July 13 -
The right strategy can make your organization agile enough to keep up with Solvency II and FASB/IASB requirements and standards.
July 10 -
Regulators in New York and California are looking into the extremely high profits yielded from, and competitive nature of, force-placed insurance.
July 5 -
Reform Insurance Penalty Estimator designed to assist insurers adjusting to the Patient Protection and Affordable Care Act's requirements.
July 2 -
Industry associations applaud the long-term reauthorization of the National Flood Insurance Program as part of a compromise deal that included the surface transportation reauthorization and student loan bill.
June 29 -
The ruling this morning gave health insurers a deadline of 2014 for embracing such provisions. On the other hand, competitively speaking, this places much more of a burden on large health insurers to provide a wide range of packages that appeal to demographics that may not have been on the radar.
June 28 -
The court ruled 5-4. However, the court added that Congress has the authority to implement the individual mandate under the taxing clauses of the Constitution.
June 28 -
At Mondays morning session on the FIO at the Insured Retirement Institutes Government, Legal and Regulatory Conference in Washington, D.C., John Fieldinga counsel in the Washington office of Steptoe & Johnson LLP, where he is a member of the Government Affairs & Public Policy practice focusing on insurance and financial services legislative and regulatory mattersspeculated that a tiff between the Office of the United States Trade Representatives (USTR) and the FIO may be stalling the documents release.
June 26