Regulation

The long‑term financing of the economy in the new regulatory environment
(Contribution of a SCOR expert in an external publication) In the wake of the crisis and the recent…
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Solvency – Principles, Values and Rules
The Canadian insurance market pioneered the transition from formula to principles based solvency rules. There has been…
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New Accounting Rule – To DAC or Not To DAC?
Effective this year, insurers must comply with a new Federal Accounting Standards Board (FASB) rule, “Accounting for…
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Economic Capital: What It Is, and Isn’t
Traditionally, most insurers have determined capital requirements based strictly upon regulatory or rating agency formulas. But recently,…
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PBA: Preparing for Big Changes in the Way We Do Business
For quite some time, the efforts to develop a principles-based approach (PBA) to statutory reserves have been…
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Valuation Manual Holds the Details
The NAIC took an important step toward a principles-based approach to insurance reserving with its September 23,…
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Accounting Standards: All Fair for Assets and Liabilities?
Financial reporting is in a state of fundamental change for insurers, as reflected in major efforts underway…
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Preparing for Principles-Based Capital
As our industry moves towards a principles-based approach to valuation, many life insurers have focused on its…
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The Evolution of Capital Calculation
Chris Britton, Vice President, Economic Capital, recently interviewed Prakash Shimpi, Enterprise Risk Management (ERM) Practice Leader for…
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Insurance regulatory and supervisory regimes aim at the protection of policyholders and supporting financial stability. The regulatory…
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The Basel II internal ratings-based (IRB) approach to capital adequacy for credit risk plays an important role…
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Regulation stands as one of society’s primary tools for managing the risks that pervade modern life. But…
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We define and study in this work a simple model allowing for a prudential valuation of solvency…
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The heart of insurance—what enables insurance to function—is risk aversion. Insurance transactions occur because policyholders prefer the…
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U.S. insurance regulation focuses predominantly on individual insurance entities, rather than on groups of commonly owned and…
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In recent years, there have been substantial changes in the approach to supervision of insurance groups. There…
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In a typical participating life insurance contract, the insurance company is entitled to a share of the…
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Solvency II is being enacted in the European Union (EU) to increase riskbased capital requirements and to…
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This paper discusses the regulatory requirement (Basel Committee, ECB-SSM and EBA) to measure financial institutions' major risks,…
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Dans le secteur de l'assurance automobile, la tarification évolue en fonction des avancées techniques et de la…
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Insurance regulation is typically aimed at policyholder protection. On the one hand, regulators attempt to ensure the…
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Prudential regulations adopted in response to recent crises aim to reduce risks faced by financial institutions. Nevertheless,…
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The objectives of this research project are to:  Provide a perspective on the definition of regulatory…
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We empirically analyze the costs and benefits of financial regulation based on a survey of 76 insurers…
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This paper provides a graphic overview on core legislation in the area of economic and financial services.…
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Traditionally, individual states have shared responsibility for regulating the US insurance industry. The Dodd-Frank Act changes this…
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This study investigates how U.S. property-liability insurers changed their behavior response to the risk-based capital (RBC) requirements…
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The Financial Stability Oversight Council (FSOC), established by the Dodd-Frank Act, has the extraordinary authority to designate…
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It is now six years since a devastating financial and economic crisis rocked the global economy. Supported…
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In January 2014 sanctions targeting Iran's key energy and financial sectors were relaxed for a period of…
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The December 2013 issuance of the Federal Insurance Office (FIO) report, How to Modernize and Improve the…
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Insurance markets are increasingly global, and any structural reform proposal should be premised on objective analyses of…
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Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) created the Federal…
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Although the business of insurance has a long history, the regulation of insurance is a relatively modern…
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An overview of the NAIC’s involvement in international discussions and key international regulatory developments. This testimony frome…
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The effect of federal insurance regulation has been a perennial topic of debate. Proponents have argued that…
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Large systematic risks, such as those arising from natural catastrophes, climatic changes and uncertain trends in longevity…
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This report reviews recent as well as planned changes to accounting and solvency regulations affecting insurers and…
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In the early 1990s, several U.S. states enacted community rating regulations to equalize the private health insurance…
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Since its inception in mid-1800s, insurance regulation in the U.S. has continued to evolve in response to…
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The recent financial crisis and its cascading effects on the global economy have drawn increased attention to…
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The 2007–2009 financial crisis resulted in failures of many large financial institutions and among the G8 countries,…
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State insurance regulators have well-developed receivership statutes, practices, and procedures to handle impaired and insolvent insurers. These…
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Plans for broad financial services regulatory reform in response to the recent global financial crisis have included…
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The Solvency 2 package, which went on force on January 1st, 2016, has had strong implications on…
Many insurers disclose Embedded Value reports, a 'capital market-consistent' valuation framework for their life insurance business, to…
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This article derives a framework for annual financial statements of a property-casualty insurer from first principles using…
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This paper investigates to what extent IFRS standards may cause incentives or constraints on long-term investment strategies…
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This paper empirically investigates disclosure practices in the European insurance industry, over the 2005-2010 time period. First,…
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This paper investigates incentives and disincentives for risk reporting practices by global insurance companies. We examine various…
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This study has identified gaps in reporting and disclosure of information by insurers particularly various facets of…
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In light of the upcoming Solvency II Pillar 3 disclosure regulation for the insurance industry, this paper…
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This paper considers the question of whether the growth in the size of financial statements witnessed over…
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In the European insurance industry, regulatory and reporting frameworks are currently subject to far-reaching reforms. We focus…
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Focuses on the framework, process and systems that agents need to have in place to meet the…
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