EU-US Dialogue Project promises action on reinsurance collateral

EU to pursue covered agreement with FIO, bypassing state regulators

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European regulators are pushing the US to reduce reinsurance collateral requirements through a covered agreement between the European Union and US federal government.

An updated report on the EU-US Dialogue Project on insurance regulation entitled ‘The Way Forward' and published on August 1, explains that the EU, the US Treasury, and the Federal Insurance Office will take "initial steps" on drafting a covered agreement on reinsurance collateral by year-end 2014. A covered agreement is a deal ent