Tag Archives: Washington DC

State insurance regulators may flex muscles amid federal rollback

Talk of a lighter regulatory touch out of Washington has many in the financial services industry feeling optimistic; but for insurers, there may be reason to be wary of the ‘law of erin-borchard-list-of-functional-exercises-LIaJas-clipartunintended consequences.’

A potential repeal, or rollback, of the Dodd-Frank Act may seem like a step toward lower regulatory burden, but in reality, only a handful of insurers — those designated as systemically important financial institutions (SIFIs), and those that own a depository institution — would feel its impact.

While few insurers are directly affected by the federal bodies established by Dodd-Frank — notably the Financial Stability Oversight Council (FSOC) and Federal Insurance Office — they are all regulated by the states, which have historically taken the lead on overseeing the insurance industry.

Continue Reading “State insurance regulators may flex muscles amid federal rollback” at The Hill

Insurers Encouraged by Latest Round of Covered Agreement Talks

Insurers say they are encouraged by the most recent developments in the covered re/insurance agreement negotiations between the United States and European google-talkCommission.

Following the latest round of the talks, held Sept. 21-22 in Washington, D.C., the United States and European Union released a joint statement citing progress.

“Both sides continued to discuss in good faith matters relating to group supervision, exchange of confidential information between supervisory authorities on both sides, and reinsurance supervision, including collateral,” the joint statement said.

Continue Reading “Insurers Encouraged by Latest Round of Covered Agreement Talks” at Insurance Journal