WASHINGTON – The lessons of the global financial crisis will result in either more effective supervision of specialist insurance groups and cross-sectoral financial groups, or restrictions on the scope of the activities of specialist insurers, a top Australian regulator said in mid-May. Australian Prudential Regulation Authority (APRA) executive member John Trowbridge said that as a consequence of the global financial crisis, the biggest single issue in insurance regulation today is the so-called “AIG problem”.

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