In search of regulatory balance

Article Abstract:

A large numbers of foreign reinsurers has created the need for regulatory requirements and adequate solvency standards in the US. Since the percentage of US premiums ceded abroad is approximately 40% of the reinsurance market, it makes sense that the federal government should play a part in the resolution of trade questions that emerge. The reinsurance industry is looking for a state or federal regulatory system that provides for the global nature of the marketplace and will take neither a laissez-faire or protectionist attitude toward the industry.

Deregulation, Reinsurance

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Coordinating two-tiered regulation: although less desirable than improving state regulation, a dual system of federal and state regulation can succeed if properly designed and coordinated

Article Abstract:

Insurance industry solvency is best ensured with a two-tiered system of state and federal regulation, although no regulatory system can prevent all insolvencies. Under a two-tiered system, the federal government would license and regulate national and international agencies while individual states would regulate smaller agencies. Two systems for ensuring adequate capital reserves, risk-based capital and the proposed Solvency and Financial Enforcement Trust Act, are also explained.

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Amsterdam

Article Abstract:

A new Dutch civil code stressing strict liability will hurt third-party liability insurance companies because it will raise costs and lead to increased claims. Insurers offering motor insurance will find that new rules resemble European Economic Commission guidelines. The code will also establish an Insurance Chamber to monitor foreign and domestic insurance affecting Dutch interests as well as impact negatively on the medical malpractice insurance market.

Netherlands, Liability insurance, Insurance, Medical malpractice insurance

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