Federal Insurance Regulation/Systemic Rick

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

Financial Regulatory Reform Task Force comments on H.R. 2609, the Insurance Information Act, and H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009, that recommends including an explicit provision in the legislation to include important professional expertise by creating an Office of the Actuary. (November 24, 2009)
American Academy of Actuaries and the Society of Actuaries slide set from a Capitol Hill Briefing on the actuarial profession’s unique perspective on a risk-focused system of financial services regulatory reform. (September 29, 2009)
Risk Management and Financial Reporting Council testimony to the U.S. House Subcommittee on Capital Markets highlighting key concepts and elements that are needed for the effective oversight and monitoring of risks in the insurance industry. (May 14, 2009)
Risk Management and Financial Reporting Council white paper outlines risk management requirements for effective systemic risk regulation. (April 30, 2009)
Risk Management and Financial Reporting Council letter to the FDIC regarding a New York Times article in which the FDIC agreed to guarantee billions of dollars in risky loans assuming that those loans represent zero default risk. (April 14, 2009)
Risk Management and Financial Reporting Council response to a New York Times article in which the FDIC agreed to guarantee billions of dollars in risky loans assuming that those loans represent zero default risk. (April 8, 2009)
Risk Management and Financial Reporting Council testimony to the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises supporting a systemic risk regulator to prevent future financial meltdowns.
(March 5, 2009)
Risk Management and Financial Reporting Council letter to the Senate seeking clarification on the role of the actuary in the Insurance Information Act of 2008. (July 29, 2008)
Risk Management and Financial Reporting Council letter to the House seeking clarification on the role of the actuary in the Insurance Information Act of 2008. (July 29, 2008)
Risk Management and Financial Reporting Council and Financial Reporting Committee comments on the Treasury Department's proposed review of the U.S. financial regulatory structure. (November 19, 2007)
Risk Management and Financial Reporting Council letter to congressional leaders on the legislative definition of a qualified risk manager under Nonadmitted and Reinsurance Reform Act of 2006 (H.R. 5637). (September 1, 2006)
Risk Management and Financial Reporting Council letter to the Senate recommending that the National Insurance Act of 2006 include a provision creating an Office of the Actuary. (July 17, 2006)
Academy follow-up letter to GAO on the role of actuaries in insurance. (June 6, 2005)
Monograph, Role of the Actuary Under Federal Insurance Regulation (April 30, 2003)
Letter from Task Force on Banking and Financial Services to the Senate on the Financial Services Modernization Act of 1999. (March 11, 1999)
Task Force on Banking and Financial Services letter to Senate Banking Committee on H.R.10, Financial Services Competition Act of 1997. (June 2, 1998)