Regulatory Risk and North American Insurance Organizations


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Reading Source: http://www.soa.org/Files/Research/research-2014-reg-risk.pdf

Topics Covered in this Reading:

  • Gaps Between Legislation and Supervision
  • Segregated Funds in Canada
  • Too Many Regulators
  • Government Override of Prior Legislative Mandate
  • Conflicting Policy with Other Agencies
  • Conflicting or Overlapping Investigative Powers for Different Regulatory Authorities
  • Privacy
  • U.S. State Variations in Life or Health Valuation Requirements
  • Product Approval Process
  • Mandated Minimum Loss Ratios on Health Products
  • Failure to Communicate with Regulator
  • Risk Pooling
  • New York Insurance Market of Late 1800s
  • Failures of the 1980s Insurance Market
  • Strategies to Address Regulatory Risk
    • Strategies for Regulators and Insurers
    • Strategies for Insurers
    • Strategies for Regulators
    • Concluding Comments