Insurance Groups Raise Worries Over New Capital Rules' Impact

Law360, New York (November 30, 2012, 2:53 PM EST) -- Insurance regulators and insurance industry groups on Thursday urged Congress to rethink the proposed implementation of “one size fits all” capital rules on all banks under the Basel III agreement, calling them problematic for thrift and bank holding companies mostly engaged in insurance activities.

The National Association of Insurance Commissioners, the Property Casualty Insurers Association of America and the National Association of Mutual Insurance Companies voiced their concerns as members of Congress held a hearing of the House Financial Services Committee’s insurance and financial institutions subcommittees...
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