Financial Stability Oversight Council [F]
NAMIC OPPOSES designating property/casualty insurance companies as a Systemically Important Financial Institution (SIFI). Property/casualty insurance companies are adequately regulated at the state level for solvency and engage in conservative investment practices that ensure they are able to meet their responsibilities to their policyholders.
NAMIC President and CEO Charles M. Chamness outlines why the Volcker Rule regarding proprietary trading is ill-suited to property/casualty insurers, and why a bank-centric approach by the Federal Reserve Board would be inappropriate for insurance company connected savings and loan holding companies.
Posted: Thursday, July 05, 2012 11:20:57 AM. Modified: Thursday, August 23, 2012 1:33:15 PM.
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