US insurers voice concern as Solvency II equivalency is raised
Connecticut insurance commissioner Thomas Leonardi has cautioned fellow regulators and other industry members that adoption of European regulatory changes, Solvency II as currently proposed could weaken consumer protections and stability of insurers in the US.
The commissioner said it is "unfortunate" that the debate surrounding equivalence has been shaped in the context of a world-wide marketing campaign for the universal adoption of Solvency II.
"In
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