Insurance Supervisors seek seeking comment about the risk of systemic
Insurance Office of the Federal Ministry of Finance last week said that the superintendent of insurance requested public comment a discussion specifically focuses on systemic risk as part of the report concerning the problems of the effort to modernize insurance regulation. Request for comments will be included in the Federal Register. Interest groups and others until December 16 have submitted all their input. Act Dodd-Frank has mandated report.
In particular, the Ministry of Finance and FIO seeking comment on the systemic-risk regulation is still something to do with insurance, capital standards and the relationship between the provision of capital and liabilities, as well as protection to all consumers for insurance products and practices, including concerns about gaps in the state the regulatory framework.
Bob Hunter, who is a director of insurance at the Consumer Federation of America, announced that his group did not respond to requests for information, but he hopes that the rate of systemic risk will be begin to be shown clearly. Disorder is that if one of the very large insurance companies operating under the guarantee funds hundreds of millions of their needs and problems, then it will bring some pressure that could interfere with the other insurance companies,” said Mr. Hunter.
