Stability issues

In reaction to the economic crisis and the ongoing turbulence in the world’s financial markets, policymakers and supervisors have been pushing for fundamental reforms to the way financial services sectors are regulated and supervised.

While it is, of course, vital to learn lessons from any economic crisis, and especially from one that sent such shockwaves through the entire, interconnected global economy, a worrying trend has nevertheless emerged for policymakers not to distinguish appropriately between the different models of the financial sectors and to assume, for example, that what is valid for banking must also be so for insurance.

The CEA, therefore, has been and will remain involved in the debates at global level and at European level over regulatory and supervisory reforms to ensure that they are appropriate for the maintenance of a sound and competitive insurance industry and that they foster consumer confidence.