Among results from the 2008 financial crisis is an approach for curbing the moral hazard posed by integral global institutions. In July 2013, a list of nine firms headquartered in the United States, Europe and Japan was established as Global Systemically Important Insurers (G-SIIs). These G-SIIs are the subject of intense focus as regulators work to improve the effectiveness and consistency of insurance regulations.
Ultimately, requirements for G-SIIs are expected to result in a common supervisory framework for all global insurers. The new framework will pose large challenges for supervisors and for insurers. Accenture’s paper examines ways insurers can respond to the changing regulatory environment.