Beware of too much faith in capital requirements, says NAIC
Beware of too much faith in capital requirements, says NAIC
The insurance industry needs to be careful it does not “put too much faith” in risk-based capital (RBC) requirements as the answer to regulating and supervising internationally active groups, according to the chief executive of US regulatory
body the National Association of Insurance Commissioners (NAIC), Dr. Terri Vaughan.
In a speech at an NAIC event to discuss Solvency Modernization Initiative Task Force, the US response to introducing risk-based regulation, Vaughan said the industry needs “a
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