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Leonardi Calls Capital Standards "Reckless" and "Ill-advised"

Firebrand Connecticut Insurance Commissioner Thomas Leonardi has branded as "reckless" and "ill-advised" the effort by the International Association of Insurance Supervisors to develop global capital standards for insurance...
November 20, 2014

Firebrand Connecticut Insurance Commissioner Thomas Leonardi has branded as "reckless" and "ill-advised" the effort by the International Association of Insurance Supervisors (IAIS) to develop global capital standards for insurance. Leonardi's objection is not to setting standards – he says that's necessary – but to the manner in which it's being done: too fast and behind closed doors.

"Trying to put three capital standards in place in three consecutive years, borders on reckless...[it] 'is ill-advised,'" said Leonardi. He adds that some international regulators understand that insurance companies cannot be regulated like banks, but that some still don't get it.

Video Interview With Thomas Leonardi (WRIN.tv 11/12/14)

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