I love writing this blog here in Washington and hope you enjoy or at least get some insights from reading it.
I only regret I didn’t cover even half the stories I wanted to, from more machinations on legislation over renewal of
the Terrorism Risk Insurance Act to exploring the inter-industry dispute now brewing — or should one say boiling over — on the alleged use of misleading illustrations of indexed universal life (IUL) products.
At a time when insurance group capital and other standards will be fashioned to be adopted by nations and states alike, when disasters rattle, boom, blow,and crush, as the globe undergoes climate change, when viruses cyber and pathological alike spook communities,and the middle class population ages and is forced to face its retirement needs head-on, as the Federal Insurance Office (FIO) keeps pointing out the explosive growth of insurance premiums in emerging markets and what it means (what does it mean?), well, the need for wide-ranging insurance regulatory coverage is important.
This wide lens perspective is needed along with an eye for the minutiae that matters. Legal or legislative language when overlooked could later mean so much to so many industry participants — just see the Dodd Frank Act’s Collins Amendment. There will be stories to be told of the people that drive the insurance regulatory and legislative space, as well. We will look at their agendas, their consumers and clients, their goals and projects, their targets, their ascensions and their falls, their meetings and their votes in closed rooms, their invitations not extended and their recollections.