Seeking equivalence – the NAIC and EC take different stances on Solvency II

The European Commission is firm in its belief that the US insurance regulatory system needs a single figurehead in order to grant it equivalent status under Solvency II – a view not shared by American supervisors. Aaron Woolner reports

theresevaughan-naic

Henry Kissinger famously asked: “Who do I call if I want to speak to Europe?” But in a reversal of the former US secretary of state’s question, the European Union (EU) is now asking the same of the state-based US insurance regulatory system. 

A function of the US’s federal political system is that insurers are regulated at state level, under guidance established by the National Association of Insurance Commissioners (NAIC) but without a nationwide rule-setter. Speaking at a conference on May 24

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here