International standard-developing bodies have been turning a studied eye towards insurance regulator standards this summer, with the latest move coming from the G-20's Financial Stability Board (FSB) involving standards for unwinding failing insurers.
One insurance representative said these global agencies' draft measures "calls into questions who will be regulating insurers in the future."
The FSB, which is a bank-heavy international organization in which the U.S. Treasury, the Federal Reserve Board and the Securities and Exchange Commission (SEC) have seats, is seeking comments on a document for non-bank financial institutions — like insurers — that could be systemically significant or "critical in failure."
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