Wednesday, 22 June 2011

International Insurance Society Annual Seminar 2011 - insights from Toronto

Having had a hard look around for material from this weeks IIS seminar (plenty of big hitters present), I have come up empty handed on accompanying speeches/presentations.

This article does let slip a few pieces, which were worth logging;
  • Head of Canadian regulator urging insurers to move risk management efforts to the forefront by enhancing the CRO role and engaging properly in stress testing - talking my language there!
  • She also added that a global capital standard would benefit the industry, and while Solvency II is an improvement, it is probably insufficient.
  • Research from Robert Klein presented suggested that the US should go in for a more modern regulatory regime (citing "antiquated" US capital standards). This runs contrary to the views of the NAIC head who spoke in Bermuda only last week. Would love to see Prof. Klein's research, but couldn't find it today.

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