Newsletter May 08: Regulators urge vigilant insurer oversight

BASEL – Continued vigilance by insurance sector regulators is needed given there’s still uncertainty about the extent and development of current financial market turmoil, international regulators said in late April. So far, however, the impact of the credit crisis on insurers seems to have been limited, according to the Basel-based International Association of Insurance Supervisors (IAIS), which groups the world’s national insurance regulators together with the aim of promoting global safety standards for the industry.