Insurers are facing revolutionary changes in the regulatory environment–changes that are causing some U.S. insurers to reevaluate business strategies and structure.
"Insurers need to review their business strategies against these unprecedented regulatory changes," says KPMG's U.S. Head of Insurance Regulatory practice David Sherwood. "Prudential standards are at the forefront of recent developments, while consumer protection has often been the poor relation. Going forward, you can expect a continued focus on risk management, solvency standards and enhancements to consumer protection, followed by increased enforcement where consumer failings or detriment occur."
In its third annual report, "Evolving Insurance Regulation—A New Dawn," KPMG provides detailed analysis of international and country-specific regulatory issues, and examines what is driving them.
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