If one word could sum up the discussions at the International Association of Insurance Supervisors (IAIS) Annual Conference in Washington, D.C. last month, it would be "Vision?"
In this instance, the question mark is important. Many of the IAIS members and observers participating in D.C. recognized that this year's conference occurred at a critical time for the international regulatory association. They also recognized that a clear vision of the direction of insurance supervision will be necessary to guide the activities and ambitions of the IAIS in the years to come.
Developing this vision is not a straightforward challenge for the IAIS, and over the course of the week the association grappled with many difficult questions. While the IAIS is clearly unified as an organization, its various members and observers nonetheless have different perspectives and approaches—or, in the words of NAIC CEO Terri Vaughan, "regulatory philosophies."
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