P/C Risk-Based Capital: State and International Solvency Regulation

Attendees learned about the latest developments concerning regulatory capital requirements for U.S. P/C insurance enterprises during this webinar. Presenters discussed the ongoing revision of P/C Risk-Based Capital (RBC) requirements, the National Association of Insurance Commissioners (NAIC) Solvency Modernization Initiative (SMI), Solvency II, and International Association of Insurance Supervisors (IAIS) developments. A summary of the current P/C RBC system also was provided.

This webinar was sponsored by the Academy and co-sponsored by the Casualty Actuarial Society (CAS). Speakers included distinguished representatives from the NAIC, the European Insurance and Occupational Pensions Authority (EIOPA) and the IAIS, as well as a former president of the Academy and CAS, and the chairperson of the Academy's P/C RBC Committee.

Highlights of the webinar included a discussion of:

• The current NAIC P/C RBC system
• Current and future developments concerning P/C RBC requirements and the insurance solvency framework
• The NAIC Solvency Modernization Initiative
• The Solvency II regulatory framework
• Relevant initiatives by the IAIS
• The effect of potential changes on U.S. P/C insurance companies

Speakers

• Alex Krutov (moderator), FCAS, ASA, MAAA, CERA, chairperson of the Academy's P/C Risk-Based Capital Committee
• Gabriel Bernardino, chairperson of the EIOPA
• Allan Kaufman, FCAS, MAAA, HONFIA, former president of the Academy and CAS; member of the Academy's P/C Risk-Based Capital Committee
• Yoshihiro Kawai, Ph.D., secretary-general of the IAIS
• Terri Vaughan, ACAS, ASA, MAAA, Ph.D., chief executive officer of the NAIC

CE CREDIT

The American Academy of Actuaries believes in good faith that your attendance at this live webinar entitled, "P/C Risk-Based Capital: State and International Solvency Regulation Webinar," may constitute relevant continuing education and an organized activity as defined under the current Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States depending upon your area of practice. Under the U.S. Qualification Standards, an hour of continuing education is defined as 50 minutes, and fractions of an hour may be counted.