jump to main menu jump to subject menu jump to content jump to footer
Media Advisory print image

Media Advisory

Commissioner McCarty to Push Back on “One Size Fits All” Group Supervision
Tuesday, May 13, 2014
Contact Info:

Harvey Bennett                                   Amy Bogner 
(850) 413-2515                                   (850) 413-2515
Harvey.Bennett@floir.com                Amy.Bogner@floir.com

Who:
Commissioner McCarty at the International Insurance Forum
What:

Florida Insurance Commissioner Kevin McCarty will moderate a panel discussion on “Enhanced Group Supervision” at the International Insurance Forum sponsored by the National Association of Insurance Commissioners.

Group supervision has been one of the most widely discussed topics in all financial regulation, including insurance, since the 2008 financial crisis.

Commissioner McCarty will point out that supervisors need to be careful that their regulatory requirements do not distract from the more important concept of understanding the economic realities that insurance groups face. He will share that this is a necessary push-back from a ‘one size fits all’ regulatory system. 

The panel discussion, among other questions, will provide answers to: What is the purpose of such enhanced group supervision? Is the intent to create a zero failure system? Is that feasible?

Joining Commissioner McCarty on the panel will be Nobuyasu Sugimoto, Financial Sector Expert at the International Monetary Fund; Michael F. Consedine, Commissioner of the Pennsylvania Insurance Department; and Jacob Rosengarten, Chief Risk Officer at XL.

View the complete agenda for the NAIC two-day conference here .

When:
Tuesday, May 13, 2014 9:00 AM
Where:

Park Hyatt Washington 
1201 24th St NW 
Washington, DC 20037

Contact Info:

Harvey Bennett                                   Amy Bogner 
(850) 413-2515                                   (850) 413-2515
Harvey.Bennett@floir.com                Amy.Bogner@floir.com

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit
www.floir.com or follow us on Twitter @FLOIR_comm and Facebook

###