The Geneva Association - External Forces Impacting the Insurance Industry: Threats From Regulation
Source: Asia Insurance Review | Apr 2006
Today’s perpetually
changing environment requires regulatory frameworks and processes to constantly
adapt. In this article, extracted from the Geneva Papers, Mr James J Schiro,
CEO of Zurich Financial Services, looks at some regulatory risks impacting the
insurance industry, and stresses that the process of designing new regulation
is not always perfect. Too often, regulators react to political pressure or
regulation emerges through litigation, and not in response to sound economic
criteria.
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