Archive

Increased Insurance Regulation Likely, International Association Says

By Staff Report

Apr. 20, 2009

Insurers should expect more burdensome regulation as a result of the global financial crisis, according to a survey of insurance regulators and other experts conducted by the Geneva Association.


Released last week, the survey of 46 insurance experts from around the world was conducted during a March meeting in Montreux, Switzerland, of the association’s research group on regulation, supervision and legal issues. Among the respondents were 15 heads of regulatory agencies.


The survey showed that 80 percent of the experts expect the regulatory burden for the insurance market to increase, and more than 67 percent said the global financial turmoil could lead to “over-regulation” of the market.


“The survey results reveal that over-regulation is a real-threat scenario for the insurance industry, a concern shared by some regulators and supervisors,” said Patrick M. Liedtke, general secretary and managing director of the Geneva, Switzerland-based group, in a statement.


Filed by Michael Bradford of Business Insurance, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.


Workforce Management’s online news feed is now available via Twitter


About Workforce.com

blog workforce

We build robust scheduling & attendance software for businesses with 500+ frontline workers. With custom BI reporting and demand-driven scheduling, we help our customers reduce labor spend and increase profitability across their business. It's as simple as that.

Book a call
See the software

Related Articles

workforce blog

Employee Engagement

12 practical employee appreciation ideas for better engagement and retention

Summary Showing appreciation to your employees improves engagement and retention. There are 12 practica...

employee appreciation, engagement, HR, raccoons

workforce blog

Compliance

California fast food workers bill: why it’s more than meets the eye and how to prepare

Summary: California signs bill establishing a “fast food council” that has the power to raise the indus...

workforce blog

Employee Engagement

7 statistics on employee turnover in 2022 every HR manager should be aware of

Summary July 2022 saw 5.9 million total separations – More Replacing a full-time employee can cost up t...

employee retention, employee turnover