New York partner H. Michael Byrne discussed enhancements to insurance group supervision in a Practising Law Institute Briefing June 27. He co-presented with Robert Kasinow of Examination Resources.
The program, titled "Insurance Group Solvency Supervision: Proposed Enhancements 2012," discussed four key topics:
- The NAIC’s 2010 amendments to its Model Insurance Holding Company System Regulatory Act and Regulation.
- The NAIC’s Own Risk and Solvency Assessment initiative.
- Potential supervision of insurers that FSOC determines to be SIFIs, and the role of the FIO in that determination by FSOC.
- Solvency regulation in Europe and the determination of third-country regulatory “equivalence” under Solvency II.