The Global Financial Crisis, started in late 2007 and in many ways still ongoing, is by many economists considered the worst financial crisis since the Great Depression of the 1930s.
During the study trip to USA - arranged in the spring 2012 by The Swedish Insurance Society - visits to various insurance companies, brokers and regulatory organizations in the U.S., made it obvious that this economic upheaval has had a major impact on the American insurance industry. Already at the first visits to the AIA (American Insurance Association) and the NAIC (National Association of Insurance Commissioners), there was much talk about the Dodd-Frank Act and its impact and implications for the insurance industry.
As a Directors and Officers (D&O) underwriter, Marcus Logander (Zurich Insurance) wanted to know more about this Dodd-Frank Act and if and how these controversial new regulations, derived from the Global Financial Crisis, has changed the conditions for the D&O liability insurance (D&O insurance) market in the U.S. However, if the intention of the Dodd-Frank Act is to regulate the U.S. market, it will most certainly have an impact on the rest of the world.
Find the full article below (pdf)