Two-tier insurance company standards coming soon from Feds

May 23, 2016May 21, 2016 Julie Campbell

Insurance Company standards financial federal reserve

The Federal Reserve is going to be issuing a new requirements structure for firms labeled “too big to fail”. The Federal Reserve has now announced that a two-tier insurance company standards system will soon be created in addition to special liquidity requirements that will be meant for providers that have been called “too big to fail.” These changes are meant to help to mitigate risks to financial stability, said Fed Governor Daniel Tarullo. Tarullo made the announcement as a part of his speech to the National Association of Insurance Commissioners…

Insurance industry changes required in Malaysia

June 26, 2013June 24, 2013 H. Cutner

The companies in the country need to have a closer look at their performance standards so they may be raised. According to Datuk Syed Moheeb Syed Kamarulzaman, the Malaysian Insurance Institute deputy chairman, the insurance industry in the country requires considerable changes in order to increase its performance standards. At the moment, the gap between best practices and performance standards are too great. He stated that the performance of the Malaysian insurance industry are not close enough to the standards that it upholds. Moreover, he pointed out that the gap…