United States: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles

United States: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles

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This paper discusses key findings of the Detailed Assessment of Observance of the Insurance Core Principles on the United States. The assessment finds a reasonable level of observance of the Insurance Core Principles. There are many areas of strength, including at state level the powerful capacity for financial analysis with peer group review and challenge through the processes of the National Association of Insurance Commissioners. Lead state regulation is developing and a network of international supervisory colleges has been put in place. Key areas for development include the valuation standard of the state regulators, especially for life insurance, and group capital standards.(See also ICP15) 20 states have adopted legislation in line with the model act so far and the key requirements take effect in 2015 ... (URSA) Guidance Manualaquot; contains more specific guidance on the elements of an effective ERM framework expected of insurers subject to ... A 2014 revised version of the Annual Financial Reporting Model Regulation, when adopted by states will require large insurers toanbsp;...


Title:United States: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles
Author:International Monetary Fund. Monetary and Capital Markets Department
Publisher:International Monetary Fund - 2015-04-02
ISBN-13:

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