Regulatory Issues and Compliance
11/4/2009 2:21:18 PM EST
Insurance Solvency Regulation
Partners, Sonnenschein Nath & Rosenthal LLP
While many financial institutions have not been able to survive the recent national and global economic turmoil, the insurance industry appears to be weathering the storm. There are fewer insolvent insurance companies today than at any other economic trying time in the US history. Chapter 14 of this latest edition of Appleman's On Insurance provides detailed and complete information about the system of insurance solvency regulation designed to ensure that insurers have adequate assets to honor their promises to their policyholders if and when fortuitous events giving rise to claims occur. Chapter 14 also provides a description of the tools used by insurance regulators to monitor, detect and identify potential financial issues and provides insight into the strategies that enable regulators to act quickly and appropriately to stabilize insurers that are facing financial problems. This information is essential for investors and consumers—and the attorneys who advise and represent them—to better understand the financial soundness of insurers and make informed decisions regarding purchasing insurance.
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