At next week’s IRES Foundation’s National School on Market Regulation in Chicago, attendees will benefit from opportunities to learn about best practices in market conduct exam coordination. Attendees will also obtain tips on building an internal market analysis function within an insurance company.
In bringing together insurance regulators, industry and legal personnel, the School provides multiple educational opportunities for attendees to not only understand the key overall challenges facing insurers today, but also to meet with regulators from various states to discuss pertinent issues in those jurisdictions.
The focus on market conduct continues as additional sessions include presentations on existing state regulation of social networking, “hot topics” across all lines of insurance, implementation of internal compliance controls, senior protection, data reporting impacts, licensing issues, and life and annuity regulation. I am fortunate to be participating in the panel discussion that will explore data reporting requirements facing insurance compliance professionals on a regular basis. With the recent health care reform enactments at the federal level, it is important for the industry to understand the regulatory roles at both the state and federal levels of government. The agenda provides all attendees the opportunity to learn more about this emerging regulatory interrelationship.
Wolters Kluwer is also presenting a special vendor session on responding to regulatory activity, detailing six key areas of effectiveness that can assist insurers in managing this compliance risk. Assessing organizational capabilities and performance, coupled with successful implementation of associated tasks, can significantly reduce an insurer’s risk of noncompliance.
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