IUA, CEA, Lloyd’s urge US to adopt reforms

European and London market insurers have given their overall approval to proposed reforms of reinsurance regulation in the US, which they said are now ready to be adopted in US law. Although several key concerns remain, European insurers said recent changes to the draft Reinsurance Regulatory Modernization Act, circulated in July 2009, are an improvement on the first draft published in March 2009.