Top insurance risks facing the financial services industry in 2017

Top insurance risks facing financial services industry

American FS Regulatory Center of Excellence

1000

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The complex regulatory environment is creating significant challenges for the insurance sector. Globally active firms face the broadest regulatory themes while domestic insurers are increasingly influenced by global trends. Considering the new administration in the United States may influence several insurance regulatory matters, we offer insight and perspective on key insurance issues.

The key regulatory challenges include:

  1. Achieving equivalence and covered agreements
  2. Challenges from innovators and new market entrants
  3. Expanding use of Big Data – benefits, risks, and challenges
  4. Increased emphasis on corporate governance
  5. Ongoing development of capital frameworks
  6. Regulatory reporting reform
  7. Cybersecurity and consumer data privacy
  8. Principle based reserving implementation
  9. Repeal of the Affordable Care Act.

Please read the Key Regulatory Challenges Facing the Insurance Industry in 2017. KPMG has great depth in each of these areas, and we would be happy to discuss them with you in more detail. Please click the link above to access the full document and contact information.

 

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