Regulation and Oversight

APCIA Expresses Concerns over New NAIC Climate Risk Disclosure Mandate

March 29, 2022

The American Property Casualty Insurance Association (APCIA) has voiced concerns over the National Association of Insurance Commissioners (NAIC) recently approved climate risk disclosure mandate. Among the concerns, the APCIA said, was that new proposed survey requirements have a short time frame for implementation. Read More

FERMA Suggests Captives Should Be Regulated as Low-Risk Undertakings

January 20, 2022

Responding to the European Commission's latest consultation exercise on the revision of Solvency II, the Federation of European Risk Management Associations (FERMA) said that European insurance regulation should automatically treat captive insurance companies as low-risk undertakings. There should be clear reasons to subject captives to fuller regulation, FERMA said. Read More

New NAIC Standing Committee To Focus on Cyber Security and Technology

January 6, 2022

The National Association of Insurance Commissioners (NAIC) has formed its first new standing "letter" committee since 2004 to focus on cyber security and issues around technology and innovation. The new committee will address the insurance implications of emerging technologies and cyber security. Read More

IAIS Statement Addresses Importance of DE&I in Insurance Supervision

November 22, 2021

In a recent statement, the International Association of Insurance Supervisors (IAIS) addressed what it sees as the importance of diversity, equity, and inclusion (DE&I) considerations in insurance supervision. The IAIS said there is growing acknowledgment that advancing DE&I in insurers' organizations and business models supports sound outcomes and sustainability objectives. Read More

Vermont Captive, Insurance Divisions Receive Accreditation Renewals

July 9, 2021

The Captive Insurance Division of Vermont’s Department of Financial Regulation has received a 5-year accreditation renewal from the National Association of Insurance Commissioners (NAIC). The state’s Insurance Division also received an accreditation renewal from the NAIC. Read More