Insurers must prove bank-style run risk worries wrong

Be open about liability illiquidity, urge panellists


The insurance industry must do more to show regulators they are wrong to worry about a run by policyholders on an insurer, delegates heard at Insurance Risk North America earlier today.

"The industry has done a poor job of demonstrating that concern about run risk really shouldn't exist," said Douglas Elliott, a fellow at think-tank the Brookings Institution, speaking at the conference in New York.

"As many of you may know, in the US we've had large insurers who have died from runs," he told del