Industry picks holes in BCR proposals

IAIS seeking a middle way on insurance capital rules

IAIS: in search of consensus

The Rorschach test is a psychological assessment where individuals’ interpretations of inkblots are assessed to tease out personality characteristics and emotional processes. In today’s bamboozling regulatory environment, the basic capital requirement (BCR) is the insurance world’s answer to the Rorschach test: each person who tries to explain it ends up saying something different – and saying something about themselves in the process. 

According to the International Association of Insurance Sup