United States [electronic resource] : Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of IAIS Insurance Core Principles.

International Monetary Fund
Washington, D.C. : International Monetary Fund, 2010.
IMF eLibrary
IMF Staff Country Reports; Country Report No. 10/126.
IMF Staff Country Reports; Country Report No. 10/126
Government document
1 online resource (80 p.)
Local subjects:
Accounting standards.
Actuarial assumptions.
Actuarial reports.
Adequate powers.
Administrative supervision.
Annual statements.
Assessment process.
Assumption reinsurance.
Audit function.
Banking supervisors.
Beneficial owners.
Beneficial ownership.
Bulk reinsurance.
Business relationships.
Capital requirements.
Captive insurance.
Captive insurance companies.
Casualty insurance.
Ceding insurer.
Certified public accountants.
Charitable organizations.
Client money.
Competent authorities.
Compliance function.
Compliance officer.
Confidentiality requirements.
Consumer protection.
Control structure.
Credit risk.
Criminal activity.
Criminal law.
Criminal offence.
Crop insurance.
Currency transaction reports.
Customer identification.
Due diligence.
Enforcement powers.
Ethical standards.
Exchange information.
False information.
Financial crimes.
Financial regulation.
Financial reporting.
Financial Sector Assessment Program.
Financial sector supervision.
Financial soundness.
Flood insurance.
Foreign branches.
Foreign regulators.
Good faith.
Group insurance.
Guaranty funds.
Health insurance.
Health insurers.
Information collection.
Information exchange.
Insurance activities.
Insurance agents.
Insurance business.
Insurance claims.
Insurance commissioners.
Insurance companies.
Insurance contract.
Insurance contracts.
Insurance fraud.
Insurance industry.
Insurance intermediaries.
Insurance law.
Insurance markets.
Insurance obligations.
Insurance policies.
Insurance policy.
Insurance product.
Insurance products.
Insurance regulation.
Insurance regulations.
Insurance reserves.
Insurance risk.
Insurance supervision.
Insurance supervisors.
Internal audit.
Internal controls.
International accounting standards.
International regulators.
International standards.
Laundering activities.
Law enforcement.
Law enforcement agencies.
Legal framework.
Licensing requirements.
Life insurance.
Life insurance companies.
Life insurance policies.
Life insurers.
Market infrastructure.
Market participants.
Material change.
Monetary instruments.
Money laundering.
Money laundering activities.
Money laundering issues.
Money laundering requirements.
Money laundering risks.
Mortgage insurance.
Mutual evaluation.
Primary insurer.
Prudential supervision.
Regulation of insurance.
Regulatory agencies.
Regulatory authority.
Regulatory cooperation.
Regulatory environment.
Regulatory requirements.
Reinsurance capacity.
Reinsurance companies.
Reinsurance contracts.
Reinsurance transactions.
Reporting forms.
Reporting requirements.
Reports on the Observance of Standards and Codes.
Retirement plans.
Risk assessment.
Risk customers.
Risk insurance.
Risk management.
Risk management policies.
Risk management systems.
Risk mitigation.
Risk profile.
Risk taking.
Risk transfer.
Securities firms.
Securities markets.
Share information.
Solvency requirements.
State regulation.
Supervisory authorities.
Supervisory authority.
Supervisory framework.
Supervisory practice.
Supervisory process.
Supervisory responsibilities.
Supervisory system.
Suspected money laundering.
Suspected money laundering activities.
Suspicious activities.
Suspicious activity.
Suspicious activity reporting.
Suspicious activity reports.
Terrorist activities.
Terrorist financing.
Title insurance.
Transaction reports.
Workers compensation.
United States.
This paper discusses key findings of the Detailed Assessment of Observance of International Association of Insurance Supervisors (IAIS) Insurance Core Principles for the United States. Most U.S. insurers write primary insurance on U.S. risks. The U.S. market is characterized by low market concentration in most sectors, indicating a high degree of competition. Overall, the insurance sector, and the property and casualty companies in particular, has been resilient through the financial crisis. However, there have also been significant stresses in the insurance sector in the last two years.
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