The term “too big to fail” rose to prominence in the wake of 2008’s economic recession. Much like the effects of the recession, the phrase has lingered and has come to define certain aspects of the business world. Too big to fail is a categorization often attributed to massive corporations that have complex and expansive global business operations and deep ties with financial institutions. If these businesses were to fail, there may be disastrous implications for the global economy that go well beyond the problems born during the 2008 recession.…
Read MoreTag: International Association of Insurance Supervisors
Global insurance industry may be in for change as regulators come together to draft new rules
In the wake of major natural disasters and allegations of corruption, the world’s insurance industry is set for change. Insurance regulators from several nations have begun drafting new rules to present to political leaders in time for the 2012 G20 summit .These new rules are being tailored to ensure that the actions that spurred the 2008 economic recession cannot be repeated in the future. Both the International Association of Insurance Supervisors (IAIS) and the Financial Stability Board (FSB) are playing a major role in drafting the new rules. Overall, the…
Read More
