Florida Insurance Commissioner to Push Back on “One Size Fits All” Group Supervision (Tallahassee, FL – Insurance News and Markets) - At the International Insurance Forum in mid-May, Insurance Commissioner Kevin McCarty will moderate a panel discussion on “Enhanced Group Supervision.” McCarty will raise the issue that supervisors need to take care so that their regulatory requirements do not distract from understanding the economic realities that insurance groups face. He will share that this is a necessary push-back from a ‘one size fits all’ regulatory system. The panel discussion is expected to explore topics like what is the purpose of enhanced group supervision? Is the intent to create a zero failure system and is that feasible? Group supervision has been one of the most widely discussed topics in all financial regulation, including insurance since the 2008 financial crisis. Other panel members will include Nobuyasu Sugimoto, Financial Sector Expert at the International Monetary Fund; Michael F. Consedine, Commissioner of the Pennsylvania Insurance Department; and Jacob Rosengarten, Chief Risk Officer at XL. Source: Florida Office of Insurance Regulation.
Posted on: Tue, 10 Jun 2014 09:30:25 +0000
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