Do you have Solvency II on your mind? I didn't think so. There are more than a few among us wondering what European insurance regulations have to do with doing business in the United States. But the fact is, if your company is not part of any international corporation, Solvency II isn't that big a deal for you.
If your entity is a business unit of an international insurer—and the globalization of insurance is seeing to that—you really do have to consider the ramifications, even if your particular company doesn't sell policies beyond the U.S. borders.
Many U.S. insurers are part of multinational insurance groups, some of which have their headquarters outside the U.S. A U.S. insurer also may be part of a large insurance group domiciled in the U.S. that has affiliates in Europe or elsewhere abroad.
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