The Financial Crisis and Life Insurance

The downturn affecting the financial markets is having a significant impact on the life insurance industry. Glenn Cunningham, Executive Vice President of Life Reinsurance, discussed the ramifications with Robert Klein, Associate Professor of Risk Management and Insurance and Director of the Center for Risk Management and Insurance Research at Georgia State University. Dr. Klein believes that unprecedented events have exposed regulatory and reporting weaknesses. However, he stresses that prudent regulation should not interfere with how companies respond to customer needs, and that greater transparency should be the goal of any reform.

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