Work With Us To Identify Risk, Insurers Urge Regulators
Law360, London (January 29, 2019, 1:13 PM GMT) -- Europe’s insurers want regulators to help create a common understanding of situations that will create systemic risk in the market, a lobby group said on Tuesday as it warned that a proposed “holistic framework" for managing exposures in the sector could lack clarity.
Insurance Europe urged the sector's watchdogs to cooperate with insurers before they consider launching regulatory action under upcoming rules that will tighten the way they manage risk. Regulators should discuss alternatives to intervention with insurers if they detect activities that could harm the broader financial sector, the group said.
The International Association of Insurance Supervisors, a global group...
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