Report: Regulatory landscape is rapidly changing for insurers

04/25/2013 | PropertyCasualty360

The insurance industry is experiencing major regulatory shifts as regulators take such steps as adopting the Insurance Core Principals developed by the International Association of Insurance Supervisors, says a KPMG report. These changes should prompt insurers to examine their business strategies, says KPMG's David Sherwood. "Going forward, you can expect a continued focus on risk management, solvency standards and enhancements to consumer protection, followed by increased enforcement where consumer failings or detriment occur," Sherwood says.

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