in
Advanced Search
On-Demand   MP3 Audio
  Also Available in:  On-Demand Audio Only On-Demand Web

Insurance Group Solvency Supervision: Proposed Enhancements 2012

Recorded on: Jul. 2, 2012
Running Time: 01:04:03

Taken from the briefing Insurance Insurance Group Solvency Supervision: Proposed Enhancements 2012recorded June, 2012.

Regulators in the U.S. and internationally have been working on ways to enhance oversight of insurance groups that include both regulated insurance entities and non-regulated entities.  These efforts are in response to the perceived gaps in regulation of financial groups identified from the 2008 financial crisis and in the International Monetary Fund’s 2010 assessment of insurance regulation in the U.S. pursuant to the Financial Sector Assessment Program.

Listen to Parimah Hassouri and H. Michael Byrne, Partner at Drinker Biddle & Reath LLP, and Robert B. Kasinow, Director at Examination Resources, LLC as they discuss enhancements to insurance group supervision.

Lecture Topics  [Total Time: 01:04:03]

  • The NAIC’s 2010 amendments to its Model Insurance Holding Company System Regulatory Act and Regulation and the states' continued commitment to a “windows and walls” approach to regulatory groups by which regulators will rely on holding company disclosures and other reporting to provide clearer “windows” into group operations in order to enhance existing “walls” of solvency protection.
  • The NAIC’s Own Risk and Solvency Assessment (ORSA) initiative under which U.S. insurers and their holding company groups would be required to conduct annual self-examinations of their own risk management process and their determination of capital adequacy prospectively up to three to five years to enable regulators to assess the quality of their risk management efforts.
  • Potential supervision of insurers that are determined by the Financial Stability Oversight Council (FSOC) to present systemic risk to the U.S. financial system, known as Systemically Important Financial Institutions (SIFI's), possibly from a recommendation by the Federal Insurance Office (FIO). Additionally the International Association of Insurance Supervisors (IAIS) recently released GSIFI assessment criteria for exposure that will be used to determine which insurance entities may present systemic risk globally.
  • Solvency regulation in Europe and the determination of third-country regulatory “equivalence” under Solvency II and the potential impact of Solvency II on U.S. insurers, for both those headquartered in the U.S. and in Solvency II compliant non-U.S. jurisdictions.

Presentation Material

  • Insurance Group Solvency Supervision: Proposed Enhancements
Speaker(s)
H. Michael Byrne ~ Partner, Drinker Biddle & Reath LLP
Robert B. Kasinow ~ Examination Resources, LLC

PLI makes every effort to accredit its recorded programs.


PLI MP3s are approved in the following states/territories: AK, CA1, CO, FL, GA, ID*, IL, KS2, ME, MO, MT, NC, ND, NH*, NJ, NM, NV, NY, OR*, PA, TX3, UT, VI, VT, WA, WV, WY. Some exceptions apply. For more information contact PLI.
 

1California: This activity qualifies for participatory credit.

2Kansas: There is a 5.0 credit limit per year for this type of viewing.

3Texas: Considered self-study credit.  There is a 5 credit limit, including specialty credit.

Please note: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement.

*PLI will apply for credit upon request.



Running time and CLE credit hours earned are not necessarily the same. Please be aware that many states do not permit credit for luncheon speakers.

Special Note: In New York, non-traditional course formats including audio and video cassettes are NOT acceptable for transitional CLE credit for the newly admitted attorney within the first two years after their admission to the Bar. Attorneys other than newly admitted may use non-traditional course format, including audio and video cassettes to fulfill their CLE requirements.

IMPORTANT INFORMATION FOR ATTORNEYS SEEKING CLE CREDIT


While listening to the program, be alert to listen for the AUTHORIZATION CODE which has been placed somewhere within the program.  Write the code down; you will be asked for this information when you request CLE credit.
 
Once you’ve completed the program, please go to www.pli.edu and log in. Once you are logged in, your account will be displayed and the available programs will be listed on the left side under the heading "My Online Library".  If you are already logged in, click the link for My Account on the home page to access your Online Library.  Return to the program and click the MCLE Registration button in the top right region of the program window.  A new window will open with a CLE Request form, you will be asked to complete a short evaluation, and fill in the AUTHORIZATION CODE, please complete and submit the form.


Once you click the Submit button, your request for CLE credit will be sent to the CLE department.  PLI will email you a CLE certificate within 48 hours.


If you are unable to successfully log in, please contact our customer service department at 800-260-4754 for assistance.

GENERAL INFORMATION

This product is designed to provide practical and useful information on the subject matter covered.  However, it is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional services.  If legal advice or other expert assistance is required, the services of a competent professional should be sought.


If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.

Print Share Email
  • FOLLOW PLI:
  • RSS
  • facebook
  • twitter

All Contents Copyright © 1996-2013 Practising Law Institute. Continuing Legal Education since 1933.