INSURANCE REGULATION FOCUS OF
ACADEMIC SYMPOSIUM
Discussion will center on solvency
regulation initiatives
PHILADELPHIA (July 14, 2009) – Insurance
regulators, academics, industry experts and other thought leaders are
meeting this week at the Symposium on U.S. Insurance Regulation at Temple
University. The conference is sponsored by the National Association of
Insurance Commissioners’ (NAIC) Center for Insurance Policy and Research,
the American Risk and Insurance Association (ARIA) and the Advanta Center
for Research in Financial Institutions at the Fox School of Business at
Temple University.
The symposium brings together key strategic
leaders from government, academia, and other interested groups to
deliberate on the lessons learned from the current financial crisis and
international developments in insurance regulation.
“This inaugural
symposium presents an important opportunity to bring together the insight
and perspective of a diverse group of experts on the future of insurers’
solvency regulation in the U.S.,” said Therese M. (Terri) Vaughan, Ph.D.,
NAIC Chief Executive Officer and President of ARIA. “We are hopeful this
symposium will stimulate a productive dialogue on identifying and focusing
on areas for continuous improvement in financial regulation of the
insurance industry.”
“We are pleased to have so many industry executives and academic leaders in attendance at this first symposium,” said Vickie Bajtelsmit, incoming President of ARIA. “The participation of such an esteemed group attests to the importance of the collaborative nature of this conference as we discuss solvency regulation initiatives.”
One of the main objectives of the conference is to establish a research/action agenda for insurance regulators to consider over the next 12 to 24 months. Symposium attendees will also discuss topics such as capital adequacy standards and their relationship with solvency regulation; regulatory intervention and state guaranty funds; and the regulation of holding companies and systemic risk.
About the NAIC
Formed in 1871, the National
Association of Insurance Commissioners (NAIC) is a voluntary organization
of the chief insurance regulatory officials of the 50 states, the District
of Columbia and five U.S. territories. The NAIC has three offices:
Executive Office, Washington, D.C.; Central Office, Kansas City, Mo.; and
Securities Valuation Office, New York City. The NAIC serves the needs of
consumers and the industry, with an overriding objective of supporting
state insurance regulators as they protect consumers and maintain the
financial stability of the insurance marketplace. For more information,
visit www.naic.org.
About ARIA
The American Risk and Insurance
Association (ARIA) is the premier professional association of insurance
scholars and other thoughtful risk management and insurance professionals.
Founded in 1932, the association's membership is comprised of academics,
individual insurance industry representatives, and institutional sponsors.
ARIA emphasizes research relevant to the operational concerns and
functions of insurance professionals, and provides resources, information
and support on important insurance issues. Our goals also include the
expansion and improvement of academic instruction to students of risk
management and insurance. Through ARIA, members receive many
valuable tools and opportunities for enlightenment, growth and
education.
About Temple University’s Fox School of
Business
Temple University’s Fox School of Business is the
largest, most comprehensive business school in the greater Philadelphia
region and among the largest in the world, with more than 6,000 students,
145 full-time faculty members and 51,000 alumni. U.S. News and World
Report ranked Fox School’s undergraduate Risk, Management and
Insurance program and its undergraduate International Business program in
the Top 10 in the U.S. The Fox School of Business is accredited by AACSB
International (The Association to Advance Collegiate Schools of
Business). For more information, visit www.fox.temple.edu.