Federal Insurance Regulation/Systemic Rick

Regulation of insurance by the federal government or as a systemic risk to the economy.

Financial Regulatory Task Force comments to the U.S. House of Representatives on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. (May 21, 2018)
Financial Regulatory Task Force comments to the U.S. Senate on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. (January 17, 2018)
Financial Regulatory Task Force comments to the  U.S. Senate Committee on Banking, Housing, and Urban Affairs  on S. 1463, Financial Stability Oversight Council Insurance Member Continuity Act.
(August 31, 2017)
Financial Regulatory Task Force comments to the  U.S. Senate Committee on Banking, Housing, and Urban Affairs  on S. 1360, International Insurance Capital Standards Accountability Act of 2017. (August 31, 2017)
Financial Regulatory Task Force comments to the U.S. House Financial Services Committee on H.R. 3110, Financial Stability Oversight Council Insurance Member Continuity Act. (July 14, 2017)
Financial Regulatory Task Force comments to U.S. House leadership on H.R. 10, the Financial CHOICE Act of 2017, noting that if Congress chooses to establish an Office of the Independent Insurance Advocate, that office should include an Office of the Actuary. (May 19, 2017)
Financial Regulatory Task Force comments to the Federal Reserve Board (Fed) on its proposed rule on Capital Requirements for Supervised Institutions Significantly Engaged in Insurance Activities.
(September 16, 2016)
Financial Regulatory Task Force comments to the Federal Reserve Board (Fed) on its proposed rule on Enhanced Prudential Standards for Systemically Important Insurance Companies. (August 17, 2016)
Solvency Committee written testimony for the U.S. House Financial Services Subcommittee on Housing and Insurance's hearing on "The Impact of Domestic Regulatory Standards on the U.S. Insurance Market." (September 29, 2015)
Risk Management and Financial Reporting Council letter to the Federal Reserve Board on issues related to a “margin over current estimate” (MOCE) for international insurance capital standards. (July 14, 2015)
Financial Regulatory Task Force (FinReg) letter to the U.S. House Financial Services Committee (HFSC) on the Financial Stability Oversight Council (FSOC) 2015 annual report. (June 17, 2015)
Risk Management and Financial Reporting Council and Financial Reporting Committee comments to the Federal Insurance Office (FIO) on U.S. GAAP loss recognition testing and Insurance Core Principle (ICP) 14 current estimates. (April 27, 2015)
Financial Regulatory Task Force comments to the Financial Stability Oversight Council (FSOC) on the impact of insurance asset management products and activities to U.S. financial stability. (March 23, 2015)
Financial Reporting Committee comments to the International Accounting Standards Board (IASB) on its treatment of participating contracts in its insurance contracts project in follow-up to a November conference call. (December 23, 2014)
Financial Regulatory Task Force comments to the Government Accountability Office (GAO) on its global capital standards report. (December 16, 2014)
Financial Regulatory Task Force comment letter to the Financial Stability and Oversight Council on the importance of actuaries in financial and insurance systems, and its perspective on updates to actuarial standards and guidance. (November 3, 2014)
Solvency Committee comments to members of the U.S. House of Representatives supporting passage of the Insurance Capital Standards Clarification Act of 2014 (S.2270/H.R.4510), which clarifies that the Fed has the authority to differentiate between banks and insurers in terms of capital requirements. (June 5, 2014)
Financial Regulatory Reform Task Force written testimony to the U.S. House Financial Services Subcommittee on Housing and Insurance hearing, “The Federal Insurance Office’s Report on Modernizing Insurance Regulation”. (February 4, 2014)
Academy President Tom Terry’s letter to the Federal Insurance Office urging it to include actuaries on the expanded Federal Advisory Committee on Insurance. (January 28, 2014)