Panelists Kathy Belfi, KB Regulatory Solutions (former Director of Financial Regulation, Connecticut Insurance Department), John Finston, Finston Consulting Inc. (former Executive Deputy Superintendent for Insurance, NY DFS), Glen Mulready, Commissioner, Oklahoma Insurance Department and Robert Romano, Partner, Norton Rose Fulbright held a roundtable discussion of the trends and developments in the US Insurance Business Transfer space. Conference attendees learned about:
- The genesis of Oklahoma’s IBT statute and the successful IBTs concluded to date, including how these transfers are conducted while protecting the interests of all stakeholders.
- How Connecticut’s division statute was an industry-led response to the 2008 financial crises, the challenges to concluding a division in Connecticut and potential legislative action and regulatory rulemaking to address those issues.
- The principal objections that regulatory agencies have raised to transfers and divisions. How regulators in states that favor IBTs or divisions can address concerns of peer regulators in states that have not yet adopted IBT/division statutes. The importance of independent review of proposed transactions.
A free replay of the panel presentation is available to AIRROC members on-demand via the AIRROC On-Demand Library.
