1. SOFE Annual Career Development Seminar – Marco Island, FL
July 24, 2017
Session B1
Has Federal and International Regulation of Insurance been Trumped?
James B. Morris, CPA, CFE, CICA, CGMA

2. Agenda Review of Dodd-Frank Agencies Recent Significant Activities
Outlook for the future
Recent Significant Activities
Financial Stability Oversight Council
Federal Insurance Office
International Association of Insurance Supervisors
NAIC
Questions and Answers

3. Dodd-Frank Agencies Significant Agencies Created
Financial Stability Oversight Council
Office of Financial Research
The Data Center
The Research and Analysis Center
Bureau of Consumer Financial Protection
Federal Insurance Office

4. FSOC Activities Transparency Challenge MetLife Designation Challenge
GE Capital de-designation
Independent Member with Insurance Expertise

5. FIO Activities Covered Agreements Modernization Report IAIS
Organization for Economic Cooperation and Development
EU-U.S. Insurance Dialogue

6. FIO Activities Modernization Report - Direct Federal Involvement
Develop and implement oversight standards for mortgage insurers
Adoption of uniform reinsurance collateral requirements
Participate in supervisory colleges
Adopt the National Association of Registered Agents and Brokers Reform Act of 2013 (NARAB II)
Adoption of the National Insurance Producer Registry (NIPR) by the States
Develop personal auto insurance policy for military personnel
Maximize number of insurers offering personal lines products
Study use of personal information in insurance pricing
Improve accessibility and affordability of insurance on Native American and Tribal Lands
Monitor state progress on simplification of collection of surplus line taxes

7. IAIS Activities Global Capital Standard
Insurance Capital Standard (ICS)
Basic Capital Requirement (BCR)
Higher Loss Absorbency (HLA)

8. IAIS Activities
The Common Framework for the Supervision of Internationally Active Insurance Groups (IAIGs)
Development Phase/Field Testing
Supervisory Colleges
IAIGs reactions
Finalization and adoption

9. International Activities of the NAIC
Member of IAIS Executive Committee
Staff participation in EU-U.S. Dialogue
Supervisory Colleges
Sponsors Annual International Insurance Forum since 2013

10. International Activities of the NAIC
NAIC Committees:
International Insurance Relations (EX) Leadership Group
International Solvency and Accounting Standards (E) Working Group
Group Solvency Issues (E) Working Group
International Insurance Relations (G) Committee
International Regulatory Cooperation (G) Working Group

11. Questions
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12. Contact Info
Jim Morris, CPA, CFE, CICA, CGMA Senior Manager 8140 Corporate Drive, Suite 140 Baltimore, MD