On December 10, 2014, the House approved a bill to reauthorize the Terrorism Risk Insurance Act (TRIA) for six years. The vote was 417-7. The compromise legislation, worked out between Senator Charles Schumer (D-NY) and...more
Earlier today, at its annual meeting, the International Association of Insurance Supervisors (IAIS) released its first set of capital standards for the insurance industry. According to the IAIS, capital standards are part of...more
ESMA Securities and Markets Stakeholder Group Responds to ESMA Consultations on Draft Technical Standards and Technical Advice on the Market Abuse Regulation -
On October 13, the Securities and Markets Stakeholder...more
On October 15, 2014, the Financial Stability Board (FSB) issued guidance on the Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes). The Key Attributes, initially adopted by the FSB in...more
Pursuant to its mandate under the Dodd-Frank Act, the Federal Insurance Office (FIO) recently issued its second Annual Report on the Insurance Industry (Report). The Report provides information about the financial condition...more
In July, the International Association of Insurance Supervisors (IAIS), a membership organization that represents insurance regulators and supervisors in more than 100 countries, released for public consultation a set of...more
On June 5, the European Banking Authority (EBA) published final draft regulatory technical standards (RTS) and implementing technical standards (ITS) relating to global systemically important institutions (G-SIIs).
As the first step in the development of group-wide global insurance capital standards, the International Association of Insurance Supervisors (IAIS) released for public consultation its proposal on basic capital requirements...more
Backstop Capital Requirements, Higher Loss Absorption, Global Insurance Capital Standards: What Applies to Whom and When?
In July 2013, the Financial Stability Board (FSB) designated nine insurance groups as global...more
The Financial Stability Board (FSB), tasked by the G-20 to prevent a future financial crisis, on July 18, 2013, designated nine large insurance groups as Global Systemically Important Insurers (G-SIIs), three from the United...more
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