Insurance industry worldwide standards are increasing uncertainty

October 21, 2013October 19, 2013 G. Turner

Insurance industry standards and technology

Fitch Ratings has warned that new plans by the IAIS could make issues of certainty worse. According to a statement from Fitch Ratings, the intentions of the International Association of Insurance Supervisors (IAIS) to come up with a global coverage capital standard based on risk will only bring about another layer of uncertainty for the insurance industry. The goal of the IAIS is to have the standard created and fully in place by the year 2019. This was pointed out by Fitch Ratings in the statement that they recently issued,…

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…

Captive insurance executives from all over the world travel to Vermont for major conference

August 8, 2011May 14, 2013

The Vermont Captive Insurance Association will be hosting the world’s largest captive insurance conference this week. The event will gather together insurance executives from all over the world in Burlington, Vermont. The conference aims to expand the knowledge of the industry as well as introduce new practices, standards and prospective legislations that could affect the worldwide industry. Executives will be met with a series of seminars and will participate in forums throughout the course of the event. Vermont is home to some of the most favorable laws in terms of…