Regulatory independence is essential in countering a herd mentality that arises from governance that is not tailored, according to vice president of the National Association of Insurance Commissioners, Julie Mix McPeak.
The European Insurance and Occupational Pensions Authority (Eiopa) has today (24 May) launched an EU-wide stress test, which will include a larger number of small and medium-sized insurers.
Names capital represents a diminishing element of the total funds available at Lloyd's and must modernise if it is to endure, according to the Corporation's chairman John Nelson.
Foreign and Japanese domestic insurance companies have paid out 123bn yen ($1.1bn) in claims related to the Kumamoto earthquake that struck the country in April.
