changes News

Swiss Re Sigma Study Analyzes Changes to Insurance Accounting Practices

Swiss Re announced that its latest sigma study “takes a fresh look at the progress in the long-running debate to make insurance accounting practices more economically relevant and internationally comparable.” The study – “Insurance accounting reform: a glass half empty …

Thoughts on a Day to Remember and Honor Those Who Fought

There is a scene at the beginning of the World War I-based play “WarHorse” in which a cavalry troop of British soldiers going to France in August of 1914, extol their readiness for combat and their belief that they will …

AIR Expands Suite of Catastrophe Models for Australia

Catastrophe risk modeling firm AIR Worldwide announced the expansion of its suite of catastrophe models for Australia “with the release of the industry’s first probabilistic bushfire model and updated tropical cyclone and earthquake models.”   Dr. Jayanta Guin, senior vice …

Economic Crisis Challenges Harmonization of U.S. Regulations, EU’s Solvency II

The EU’s Solvency II regulations get most of the headlines, but there are other regulatory bodies, which are trying to modernize and harmonize the regulations for global insurance companies. Their task has been made even more difficult by the prolonged …

Lloyd’s Market Association Issues Guidance in Case of Euro Exit

The Lloyds’s Market Association (LMA) has joined central banks and other financial instiutions in preparing for a possible euro zone exit. It has issued a “note” giving insurers and brokers guidance on what they should be prepared to do in the …

Accounting Board May Change its ‘Fair Value’ Rule

A global accounting rule rushed through after pressure from politicians during the financial crisis may have to be tweaked, sparking disruption for investors and companies. The International Accounting Standards Board (IASB) had long planned a revamp of its “fair value” …