Insurers Pick Apart Proposal For Global Supervision

Law360, New York (August 30, 2012, 10:03 PM EDT) -- A  U.S. insurance industry group on Thursday blasted the International Association of Insurance Supervisors' proposed framework for coordinating international supervision of large global insurers, arguing the proposal includes an unnecessary layer of regulation that would raise rates worldwide.

The Property Casualty Insurers Association of America called for an immediate, fundamental change in the IAIS' focus in developing the Common Framework for the Supervision of Internationally Active Insurance Groups, or ComFrame.

It said the working draft falls unacceptably short of the IAIS' goal of making regulation of...
To view the full article, register now.