Key Issues

This page is a topical listing of key insurance regulatory issues. Click on the topic for a brief abstract, support documents, testimony, presentations and NAIC actions.

For a complete A-Z list of insurance topics and issues, please click here.

Dodd-Frank Financial Services Regulatory Reform

Signed by U.S. President Barack Obama into law July 23, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) represents the federal government’s comprehensive response to the financial crisis that peaked in the fall of 2008. This special section details the efforts of the NAIC and state regulators addressing provisions of the law impacting state regulation of insurance.
(Last Updated 02/10/12)

Global Regulatory Convergence

The U.S. state-based insurance regulatory system has a strong track record of protecting consumers and solvency oversight, especially during the recent crisis when the insurance sector remained relatively stable compared to other financial sectors. Comprehensive data collection and analysis, rigorous hands-on supervision, and transparency for consumers and investors are the hallmarks of the U.S. system…
(Last Updated 4/11/12)

International Insurance Supervision / IAIS

The day-to-day supervision of insurance in the U.S. requires extensive coordination among regulators. The NAIC has a long history of coordination, with embedded systems of peer review into our processes to promote consistent oversight. Similar efforts to coordinate at the international level are evolving, so U.S. regulators along with their international counterparts are redoubling efforts to strengthen supervision. The NAIC engages in recurring regulator-to-regulator dialogues with representatives from the EU, North America, China, Japan, Switzerland, and other jurisdictions around the world. By joining with our international counterparts, our global engagement will continue to expand to strengthen insurance markets in the U.S. and abroad.
(Last Updated 4/25/12)

Natural Catastrophe Response

The economic cost of natural disasters has an immense impact on the U.S. economy. The cost is growing steadily, particularly as natural disasters become more frequent due to changing climatic conditions. In terms of insured losses, if one were to look at the ten costliest disasters in United States history, eight were hurricanes...
(Last Updated 02/01/12)

Solvency Modernization Initiative (SMI)

The Solvency Modernization Initiative (SMI) is a critical self-examination to update the United States’ insurance solvency regulation framework and includes a review of international developments regarding insurance supervision, banking supervision, and international accounting standards and their potential use in U.S. insurance regulation. The SMI focuses on key issues such as capital requirements, governance and risk management, group supervision, statutory accounting & financial reporting, and reinsurance.
(Last Updated 3/29/12)