Regulation/Legislation

Moodys Rating Service gives a favorable review to new rules proposed by the International Association of Insurance Supervisors to identify insurers that would pose a systemic risk to the global financial system, but the devil is in the details, notes an industry representative.

Wolters Kluwer Financial Services announces new functionality to its ComplianceWare market conduct research tool, allowingU.S.property & casualty insurers to access market conduct exams and enforcement actions in one location.

Predictably, large lobbying expenditures by property and casualty insurance companies in 2011 focused on catastrophe issues and on pursuing legal reform.

Former regulators and legislators have created a new committee aimed at putting pressure on Washington officials to continue to focus on rules and laws aimed at reducing systemic risk in financial markets.

The City of Columbia, Mo.s money-saving efforts include increasingly concentrated attempts to keep Workers Compensation costs down, says Sarah Perry, the citys risk manager for more than 15 years and a member of NUs Risk Managers Advisory Board.

Public-sector risk managers look to such options as public-private partnerships and Workers Comp-reduction programs, in order to make the most of their limited budgets as the economy slowly recovers.