Financial Services Industry
Industry: Email Alert RSS FeedAIA planning self-regulatory body to monitor co. solvency. (American Insurance Association)
National Underwriter Property & Casualty-Risk & Benefits Management, November, 1990 by Brostoff, Steven
AIA Planning Self-Regulatory Body To Monitor Co. Solvency WASHINGTON-The American Insurance Association is working on a plan to create a self-regulatory organization to monitor insurance company solvency, according to AIA President Robert E. Vagley. The Washington, D.C.-based AIA hopes the proposal will be ready in the near future, Mr.
Vagley said at a recent press briefing. In a wide-ranging discussion of insurance matters, Mr. Vagley said that solvency is the federal insurance issue of the 1990s and that insurers have a tremendous stake in strong solvency oversight because solvent insurance companies have to pay the claims of insolvent competitors. AIA, Mr. Vagley noted, is working closely with House Energy and Commerce Committee Chairman John D. Dingell...
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