IUA warns against over-regulation

The UK regulator should not be tempted to introduce additional regulations on insurers and reinsurers in the wake of the financial crisis, the International Underwriting Association (IUA) has said. In its response to the FSA’s Turner Review, the IUA said the FSA’s existing ICAS regime and the proposed Solvency II Directive “already provide robust frameworks for the regulation of insurance and reinsurance”.