- Insurance Commissioners of Connecticut, Rhode Island and Tennessee Debate National and Global Regulatory and Solvency Issues for the Insurance Industry
- July 2, 2013 | Authors: Carl J. Pernicone; Frederick J. Pomerantz; Robert M. Weber
- Law Firm: Wilson Elser Moskowitz Edelman & Dicker LLP - New York Office
The Insurance Commissioners of Connecticut, Rhode Island and Tennessee participated in a roundtable discussion highlighting some of the most current and pressing regulatory and solvency issues for the insurance industry from national and global perspectives, assessed affected insurance regulators’ responses to Hurricane Sandy, and touched on the relationship between the National Association of Insurance Commissioners (NAIC) and the Federal Insurance Office (FIO). The full report of the roundtable discussion appears in an article, “Navigating the Regulatory Archipelago,” in the Summer 2013 edition of AIRROC Matters.
Wilson Elser Partner Fred Pomerantz and other members of the legal community facilitated the roundtable discussion hosted by the Publications Committee of AIRROC Matters, the signature publication of the Association of Insurance & Reinsurance Run-Off Companies.
Top Issues Discussed Included:
- The work of the NAIC’s recently created task force on financial stability in analyzing systemic risk, principles-based reserving and other financial solvency initiatives
- Recent amendments to the NAIC’s Credit for Reinsurance Model Act
- The U.S.-EU dialog on group capital, group supervision, confidentiality and other issues
- The role of the International Association of Insurance Supervisors
- The prospect for Congressional reauthorization of the Terrorism Risk Insurance Act
- The eligibility of captive insurers for NAIC accreditation
- The impact of Rhode Island’s solvent runoff statute.