Global Federation of Insurance Associations forms to combat rampant regulation

Insurance News

Insurers come together to form the Global Federation of Insurance Associations Insurance regulations around the world are becoming more stringent in the wake of the global financial crisis that began taking off in 2008. The crisis is responsible for a severe economic depression in the U.S. and other countries and is being widely attributed to the lack of strict regulation of both the insurance and banking industries. Because of the industry’s link to the financial crisis, companies around the world are beginning to see extreme regulations that are making it…

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Canada introduces new insurance regulations framework

Toronto Ontario Canada Auto Insurance News

New framework will guide the development of insurance regulations Canada lawmakers have revealed a new framework that will dictate changes being made to the country’s insurance regulations. The initiative is part of a global financial services overhaul of which Canada is a significant part. The global endeavor aims to impose stricter capital and liquidity regulations on banks and will have an impact on the insurance industry as well. By announcing the new regulatory framework, Canada officials are offering insurance industry officials with the opportunity to provide insight that could shape…

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Allianz warns that UK’s place in the global insurance market is slipping

Allianz UK, one of the largest insurers in the nation, is warning the government that the insurance industry is a risk of a dramatic loss in business. Britain is currently home to the third largest insurance sector in the world. However, many insurance companies that once called the UK home are now moving to Bermuda and Switzerland, hoping to take advantage of the various incentives those nations offer. Allianz officials say that the issue is no simply what the UK has to offer insurers, but what insurers in the UK…

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