Loose cannons on the regulatory front

Article Abstract:

The alternative insurance market has long enjoyed relative freedom from government regulation, but this freedom may be coming to an end. The National Association of Insurance Commissioners (NAIC) is promoting the Non-US Insurer Act, a model bill which, if enacted by Congress, would empower the NAIC to decide which alien insurers would be allowed to do business within states' borders. The House Energy and Commerce Committee is considering legislation that would give insurers the choice of the current state regulation or a new federal certification program.

Regulation misc. commercial sectors, Legislative bodies, Political activity, Economic policy, United States. Congress. House. Committee on Energy and Commerce, National Association of Insurance Commissioners

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Intermediaries under siege

Article Abstract:

Reinsurance intermediaries should not be required to guarantee the solvency of reinsurers when helping ceding companies acquire reinsurance from financially sound reinsurers. Currently the reinsurance intermediary industry is self-regulated and has adopted standards that promote the credibility and solvency of the reinsurance industry. Ultimately it is the responsibility of the ceding company to assess the financial dangers of staying with a reinsurer.

Planning, Reinsurance, Industry regulations, Government regulation of business, Trade regulation

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