Insurers aiming toward global mkt. harmonization. (International Life & Health Insurance Report)

National Underwriter Life & Health-Financial Services Edition, May, 1993 by Connolly, Jim

A solvency group of the Organization of Economic Cooperation and Development (OECD) met for the first time in Apr 1993 to discuss the potential harmonization of the international insurance industry. Insurers from the 24 OECD members testified on the workings of their domestic insurance markets. National Association of Insurance Commissioners VP David Walsh, a participant at the meeting, says that a single international insurance system would be a good goal but it is unlikely that an international system could be implemented in the near future.

Efforts are underway to harmonize world insurance markets into a global system, according to insurance experts.

A solvency group working under the auspices of the Organization of Economic Cooperation and Development held an...

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