Insurance Regulation
NCIGF CEO Schmelzer to Chair Global Group
Roger H. Schmelzer, president of the National Conference of Insurance Guaranty Funds (NCIGF), has been selected to serve as chair of the International Forum of Insurance Guarantee Schemes (IFIGS). ...
EU Seeks to Give Insurance, Other Finance Regulators More Post-Brexit Powers
The European Union moved a step closer on Thursday to beefing up its regulators to increase safeguards for consumers and create an EU capital market that reduces the bloc's reliance on Britain's ...
Lloyd’s Underwriters Paying To Settle NYDFS Charges Related to NRA-Branded Insurance
In a December 20 consent order, 10 Lloyd's of London underwriters have entered into an agreement to pay $5 million to the New York State Department of Financial Services (DFS) for underwriting fire ...
Vullo Stepping Down as New York Insurance Regulator
Maria Vullo is stepping down as head of New York's banking and insurance regulator, she said in an interview last week, after three years in which she created a national model for cybersecurity ...
U.S., Britain Sign Post-Brexit Covered Agreement for Insurance
The U.S. Treasury and U.S. Trade Representative's office said on Tuesday they intended to sign a new bilateral insurance agreement with Britain that will provide insurance market regulatory certainty ...
Global Insurance Regulators Delay Applying ‘Too Big to Fail’ Label to Carriers
Global insurance regulators will put off singling out insurers deemed so important to the financial system that they are required to hold extra capital, in a victory for companies such as American ...
New Global Insurance Accounting Rule Could Be Delayed One Year
A global standards body has proposed a one-year delay to implementing its new accounting rule aimed at increasing visibility in how insurers earn money. A spokeswoman for the International Accounting ...
AIG Told by U.S. Regulator to Improve Reinsurance Disclosures
The U.S. Securities and Exchange Commission told American International Group Inc to improve disclosures about its use of reinsurance to mitigate losses in its property and casualty unit, according ...