Basel II language issues disadvantage insurance industry


Insurers have not been able to gain any significant opportunity from the implementation of Basel II because it was "written by bankers, primarily for bankers", and demands placed upon insurers were expressed in a way that made it difficult for the insurance industry to meet them. Although Basel II was carefully drafted to eliminate opportunities for abuse by creative bankers, its detail is so couched in banking terms that the linguistic differences will make compliance an exasperating problem

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