Industry braces for 2006

2005 will likely be remembered for completion of the Financial Services Action Plan, but with so many measures now in force and yet to implement, what will 2006 hold for the world of insurance regulation? We take at look back at the major events of 2005 and look forward to what’s in store in 2006.

Last year was undoubtedly a busy time for insurance regulation, not only in terms of new rules and directives but also inquiries and investigations into certain industry practices. From finite reinsurance investigations in the US to the European Commission’s announcement that it will study competition practices in business insurance, the industry cannot escape regulatory scrutiny.