Posted on 15 Jul 2009
Insurance regulators, academics, industry experts and other thought leaders are meeting this week at the Symposium on U.S. Insurance Regulation at Temple University. The conference is sponsored by the National Association of Insurance Commissioners' (NAIC) Center for Insurance Policy and Research, the American Risk and Insurance Association (ARIA) and the Advanta Center for Research in Financial Institutions at the Fox School of Business at Temple University.
The symposium brings together key strategic leaders from government, academia, and other interested groups to deliberate on the lessons learned from the current financial crisis and international developments in insurance regulation.
“This inaugural symposium presents an important opportunity to bring together the insight and perspective of a diverse group of experts on the future of insurers’ solvency regulation in the U.S.,” said Therese M. (Terri) Vaughan, Ph.D., NAIC Chief Executive Officer and President of ARIA. “We are hopeful this symposium will stimulate a productive dialogue on identifying and focusing on areas for continuous improvement in financial regulation of the insurance industry.”
“We are pleased to have so many industry executives and academic leaders in attendance at this first symposium,” said Vickie Bajtelsmit, incoming President of ARIA. “The participation of such an esteemed group attests to the importance of the collaborative nature of this conference as we discuss solvency regulation initiatives.”
One of the main objectives of the conference is to establish a research/action agenda for insurance regulators to consider over the next 12 to 24 months. Symposium attendees will also discuss topics such as capital adequacy standards and their relationship with solvency regulation; regulatory intervention and state guaranty funds; and the regulation of holding companies and systemic risk.