Blog | Regulations/Financial Systems

Will Reform-Driven Innovations Continue if Law is Struck Down?
March 28, 2012 @ 10:51 AM | By Nathan Golia

Health insurers have embraced modernization of the healthcare system since the Affordable Care Act was passed.

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Geithner on Late FIO Reports: Sorry, But We Want to Get It Right
March 21, 2012 @ 10:05 AM | By Anthony O'Donnell

Treasury Secretary Timothy Geithner says he doesn't think there's a lack of resources at the FIO, just a desire to work "carefully."

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NAIC: Oklahoma Insurance Commissioner Doak Didn't Speak for the Organization
March 07, 2012 @ 12:21 PM | By Anthony O'Donnell

Oklahoma Insurance Commissioner's assertion that the Federal Insurance Office is unconstitutional was his opinion, not that of the NAIC.

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NAIC Member Strikes Back: FIO "Unconstitutional"
March 06, 2012 @ 10:43 AM | By Anthony O'Donnell

At the NAIC's spring meeting in New Orleans, Oklahoma Insurance Commissioner John Doak called the FIO an unconstitutional usurpation of states' rights.

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Attorney Suggests Royce Wants FIO to Supplant NAIC
March 02, 2012 @ 10:57 AM | By Anthony O'Donnell

Since the NAIC acts in an advisory rather than a compulsory role toward the state insurance regulators, it does not act as a regulator, says Michael Nelson, chairman of law firm Nelson Levine de Luca & Horst.

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Groundhog Day for Insurance Reform: Zero Mention in Geithner's Dodd-Frank Update
February 03, 2012 @ 12:40 PM | By Anthony O'Donnell

Does the delay of the Federal Insurance Office's industry modernization report signify ominous reform measures or the insignificance of the insurance industry to the post-financial crisis reform effort?

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FIO Misses Modernization Report Deadline
February 01, 2012 @ 11:37 AM | By Anthony O'Donnell

The delay of the insurance modernization report mandated by the Dodd-Frank Act adds to a long list of missed deadlines.

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10 Facts About SOPA, and Why Insurance CIOs Should Care
January 19, 2012 @ 13:33 PM | By Nathan Golia

Technologists at insurance companies deal with dueling regulatory frameworks: financial and technological. But as yesterday's events show, there's much more action around the latter.

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Not Everyone is Happy with Hardening P&C Market
December 02, 2011 @ 11:43 AM | By Nathan Golia

Higher premiums are needed after a big year for losses, but consumers are going to push back.

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What Do ACOs Have to Do With Tech, Anyway?
December 02, 2011 @ 11:05 AM | By Nathan Golia

Insurers' data will be central to developing the ideal accountable care organization as outlined by the healthcare reform bill.

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Barney Frank's Next Role -- Treasury Secretary?
November 29, 2011 @ 11:41 AM | By Katherine Burger

Barney Frank, the Dodd-Frank co-author and advocate of tougher bank regulation, who announced he will not seek reelection to the House of Representatives in 2012, leaves a mixed legacy for the financial services industry -- and says he will not be "a lobbyist or historian" when he leaves Congress.

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Who Will Be the Winners and Losers When Supreme Court Rules on Healthcare Reform?
November 14, 2011 @ 12:02 PM | By Katherine Burger

Supreme Court will consider challenges to healthcare reform law's individual mandate requirement; oral arguments will be presented in March and a decision could come by June 2012.

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Another British Invasion? The New Wave of Insurance Regulation
October 10, 2011 @ 12:00 PM | By Denise Tessier, Wolters Kluwer Financial Services

Just as the musical "British Invasion" ultimately had a lasting impact on American music and culture, the synergy of regulatory reforms in the U.S. and Europe are also aimed at constructive global cooperation, a blending of the best of both worlds.

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EU Solvency II Deadline Extension Helps, But Insurers Still Scrambling
August 10, 2011 @ 11:30 AM | By Anthony O'Donnell

The European Parliament supports an implementation deadline extension from Jan. 2013 to Jan. 2014, but insurers will still have to get systems and processes in place by the end of 2012.

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Insurance Industry's Financial Strength Overwhelms Any Threat from S&P's Downgrade
August 09, 2011 @ 12:28 PM | By Anthony O'Donnell

The P&C industry has limited exposure to government bonds and has enough financial strength in reserve to cover the equivalent of 12 Hurricane Katrinas, according to the Insurance Information Institute.

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Study Suggests Canada's Single-Payer System Costs Less than U.S.
August 05, 2011 @ 11:02 AM | By Nathan Golia

The research from Cornell University and the University of Toronto found that American doctors must pay on average $61,000 more per year for administrative costs associated with insurance claims.

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Appelate Court Throws Out AIG, Gen Re Finite Reinsurance Convictions
August 03, 2011 @ 09:37 AM | By Anthony O'Donnell

The reversal in convictions in U.S. v. Ferguson raises questions about prosecutors' zeal, and have implications for civil case against Hank Greenberg filed by former New York Attorney General Eliot Spitzer in 2005.

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Dodd-Frank Anniversary Marked by Missed Deadlines, Hostile Counter Legislation
July 22, 2011 @ 13:58 PM | By Anthony O'Donnell

Over 131 rule-making deadlines have been missed, The House has passed a bill to limit the powers of the Consumer Financial Protection Bureau. The Federal Insurance Office faces a Jan. 2012 deadline for its report on modernizing the insurance industry.

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Best Practices for Upgrading Planning, Budgeting & Forecasting Capabilities
July 22, 2011 @ 10:10 AM | By James Richards, Don B. Rogers and Andrew Dubin, Ernst & Young

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Making the Business Case to Upgrade Planning, Budgeting and Forecasting Capabilities
July 19, 2011 @ 11:57 AM | By James Richards, Don B. Rogers and Andrew Dubin, Ernst & Young

Regulatory oversight, the globalization of markets and increasing operational complexity are spotlighting PB&F capabilities. But insurers should steer clear of a panacea approach in upgrading these necessary systems.

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