EU Insurers Resist Global Call For More Data Collection

Law360, London (August 21, 2019, 2:34 PM BST) -- New global rules that would require insurers to hand over large swaths of data to regulators in an attempt to manage systemic risk are too demanding and should be minimized, Europe’s top insurance trade group said Wednesday.

Insurance Europe said in response to a consultation by the International Association of Insurance Supervisors that the regulatory group’s revised guidance on new rules overestimates major risks in the insurance sector. It would place too high a burden on insurers to hand over data to help manage that risk, the group said.

The new rules would require insurers to provide regulators with data on...

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