Regulating the global market

The regulatory environment is one of the most important influences on the international insurance and reinsurance industries. Regulation is critical to any decision about how or whether to participate in a particular market. It affects the relationship between insurers and reinsurers and their customers, the products they offer and ultimately their bottom lines. But as we enter an era of globalised markets and diminished boundaries between the capital and insurance markets, there are serious doubts about the ability of regulators to keep up with an ever quickening pace of change says Marie-Louise Rossi, chief executive of the International Underwriting Association of London (IUA).