Worries Over Heavy Regs Push Global Insurers To Join Forces

Law360, New York (October 17, 2012, 9:34 PM EDT) -- Responding to greater cross-border cooperation among insurance regulators, insurers around the world recently banded together in a global trade group to battle regulatory proposals they fear would prove costly and unwarranted.

The creation of the Global Federation of Insurance Associations, announced last week, comes more than a decade after insurance regulators set up the International Association of Insurance Supervisors, which has ramped up efforts to coordinate regulations across borders since the 2008 financial crisis. Experts say the newly established group will focus on several IAIS initiatives...
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