Insurance Regulation: International Developments (CRS Report for Congress)
| Release Date |
April 28, 2004 |
| Report Number |
RS21828 |
| Report Type |
Report |
| Authors |
Carolyn Cobb, Government and Finance Division |
| Source Agency |
Congressional Research Service |
Summary:
Events and entities outside the United States are affecting or may affect the competitive position
of
U.S. insurers, in two ways. First, supranational organizations are developing international standards
for insurance accounting and for aspects of supervision, such as reinsurance supervision. Second,
U.S. insurers are operating under a much more fragmented regulatory regime than their competitors
in other countries, such as the U.K., that are consolidating and modernizing their supervision.
International standards and regulatory competition are important parameters on the U.S. industry's
access to capital and therefore on its ability to provide innovative and traditional risk financing in
the United States. This report was written under the research supervision of Barbara Miles,
Government and Finance Division, and will be updated as events warrant.
