A.M. BestTV: Global Regulators Update Capital Plan; Life Sales Sag
OLDWICK, N.J.--(BUSINESS WIRE)--In this episode of A.M.BestTV, the International Association of Insurance Supervisors (IAIS) draws criticism after seeking an August 2014 deadline for comment on their updated capital requirements plan. Kurt Karl, chief economist of Swiss Reinsurance Company Limited (Swiss Re), details the state of world insurance growth. InsurBanc’s President and CEO, David Tralka, outlines the coming wave of Baby Boomer led agency sales.
The insurance industry is expressing concern about an updated draft introduced by the IAIS of proposed basic capital requirements regulation providing greater detail on how calculations would be made. Michelle Rogers, director of financial and regulatory policy for the National Association of Mutual Insurance Companies, said the timeline is a concern since the comment period is limited to August 8, and this quick turnaround could cause problems.
According to Swiss Re’s Karl, insurance growth slowed in 2013 due to regulatory shifts in Europe, India and China. However, he believes that we could see stronger growth as economic conditions improve.
“An ongoing challenge,” is how InsurBanc’s Tralka describes how agency principals should proceed regarding Baby Boomer led agencies. He said agency principals are trying to figure out what to do since the population of agency principals continues to get older.
Click on http://www.ambest.com/v.asp?v=news71114 to view this episode.
Recent episodes of A.M.BestTV include:
- First Monday: Leading Analysts, Key Topics: This “First Monday” looks at a sharp decline in U.S. property/casualty impairments; insurance market development in the Association of Southeast Asian Nations region and China's approaching solvency system overhaul: http://www.ambest.com/v.asp?v=firstmonday714
- Global Investment Strategists Cautiously Optimistic for Second Half of 2014: Experts at Prudential Financial Inc.’s mid-year economic outlook media briefing in New York address how economic improvements and growth from emerging markets are expected to lift overall results for 2014: http://www.ambest.com/v.asp?v=prudential714
- Advances in Patient Safety Shape Medical Liability Coverage: Experts in patient safety say insurers and the medical profession are to bring better standards and new practices to lessening the risk of medical error: http://www.ambest.com/v.asp?v=patient614
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at www.ambest.tv.
A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.