US/Canada/Bermuda

Analysis

Danes keen to enforce 2014 Solvency II deadline

Danes keen to enforce 2014 Solvency II deadline

With the trialogue discussions intensifying over the final form of Solvency II, Denmark, which holds the presidency of the Council of the EU, has stated its determination to keep to the 2014 timeline for implementation. Yet with key issues still outstanding, the outcome is finely balanced, as Sarfraz Thind reports

NAIC: "If we respect the differences, we can make this work"

On a visit to London, the NAIC top brass make it clear where they stand on equivalence. "We are not adopting Solvency II and Europe is not adopting the US system and that is okay," says Kevin McCarty, NAIC president. The key issue is making it easy for transatlantic firms to do business, stresses his colleague, CEO Terri Vaughan, in the interview with InsuranceERM

The US presses ahead with its ORSA

A draft ORSA proposal is due to be discussed, and is expected to be adopted, at the NAIC fall 2011 national meeting starting 3 November. The basis of the NAIC proposal, which could become a key part of the regulatory framework for US insurers, is the draft ORSA Guidance Manual, whose key points Jean Connolly, Maryellen Coggins, Brian Paton, Tom Sullivan, Henry Jupe and David Scheinerman discuss here.

NAIC presses on with solvency modernisation

NAIC presses on with solvency modernisation

The SMI is only partly related to Europe's move towards Solvency II, says the NAIC. There are similarities between the two which might smooth the path to equivalence between them, but US critics of the SMI could cause delays. Lorna Davies reports.

Bermuda awaits Eiopa's equivalence review

Bermuda awaits Eiopa's equivalence review

Bermuda's bid for "equivalence" with Europe under Solvency II has generated regulatory moves that are similar to those in the directive. Ahead of the results of Eiopa's assessment of the island's insurance regime, Lorna Davies gauges opinion in Bermuda.

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