Welcome to
The
regulators of globalized investment and commerce are seeking to establish
a level playing field with defined rules. The IASB, IAIS and OECD are
working to establish these rules for the insurance industry and industries
requiring insurance.
Barnert Global tracks these organizations and more,
focusing on standards development, model regulation proposals, and their
implementation. Whether your company needs up to the minute information
or to affect the development process itself, we can leverage over a decade
of experience to your benefit. We are also available for consultation
and advocacy on the individual regulations and practices of most of the
member nations of these groups.
News and information on the development of global accounting and investment standards and regulation is available through The Barnert Reports™ - Global Edition
The Barnert Reports - Global
Edition
Barnert Publishing Corporation has just released the third introductory issue of the The Barnert Reports™ Global Edition. Our newest offering focuses on providing timely, insightful and valuable information on global insurance regulatory developments.
This first issue contained an exclusive interview with five members
of the
IASB Standards Accounting Council on the IASB approach to insurance
accounting as well as providing an early report on the growing European
opposition to IASB proposals.
In our second issue we took our
readers to the heart of the debate over the
IASB and the proposed standards culminating in the IASC Trustees
decision to
undertake a review of the structure and effectiveness of the IASB.
The third issue features an
interview with the national standards setters as they
prepare for their upcoming meeting with the IASB, their expectations
for the meeting, the reactions they have received from their constituents
on phase I
and their early take on phase II and fair value accounting. As summer
in the
northern hemisphere comes to an end, we also give our readers an
early view
of the issues to be discussed at the IASB and FASB meetings, NAIC,
and IAIS
and up to date responses to ED5 and IAS39.
If you are a manager in accounting, public policy and development
who needs
to stay abreast of emerging regulatory developments around the world,
The
Barnert Reports™ Global Edition is essential for you. We invite
you and
your colleagues to become subscribers of this critical report. Subscription
information can be found here.
Representative Clients of the
Barnert Group of Companies
American International Group (AIG)
Alexander Hamilton Life Insurance Company
Atlanta Portfolio Analytic Management (APAM)
Autotote
Bankers Trust Company
Bear Stearns & Company
Citibank
Conseco Companies
Credit Suisse First Boston
Drexel Burnham Lambert
Deutsche Morgan Grenfell
Ernst & Young
Federal Agricultural Mortgage Corporation (Farmer Mac)
Federated Investors
Fidelity Investments
General Contractors Association of New York, Inc.
Golden American Life Insurance Company
Golden Rule Life Insurance Company
Great Western Life Insurance
Grow Tunneling Corporation
Hughes Hubbard & Reed
Jackson National Life Insurance Companies
Life of Georgia
MetLife
Metropolitan Mortgage
Merrill Lynch
Mortgage Bankers Association of America
National Alliance of Life Companies
National Association of Dental Plans
National Association of Realtors
National Fraternal Congress of America
National Realty Committee
Pacific Life Insurance Company
Reliance Standard Life Insurance Company
Reliance Group
Resource Life
SunAmerica, Inc.
Swiss Re
Teachers Insurance and Annuity Association (TIAA/CREF)
Transamerica Occidental
Vining Sparks IBG, LP
Western United Life
Barnert
Associates, Inc. was established in 1986. It provides consulting to insurers that enables them to stay ahead of the curve on insurance regulatory issues. Since inception, Barnert
Associates has represented clients in negotiations with regulators before the NAIC on numerous issues, including the NAIC Model Investment Law, Risk Based Capital rules and formulas, e-commerce, establishment of the NAIC Asset Valuation Reserve, valuation of securities, regulation of money market funds, equity indexed annuities, disclosure requirements, derivative regulation, asset-liability management, real estate and mortgage regulation, and, for the nine year Codification of NAIC Statutory Accounting Practices project.
Barnert Global, Ltd. was formed in 1997 in response to the growing international regulatory discussions occurring around the world. It has become an important source of information on international insurance issues for IASB members, its staff, and Industry. Barnert Global has attended every open meeting of the International Accounting Standards Committee Board (IASB) and the Insurance Advisory Committee (and its predecessor Steering Committee) since IASB opened its doors to the public in March 1999. IASB is the principle entity responsible for the development of the international financial regulation framework recommended by the Financial Stability Forum.
Barnert Global believes that once developed by IASB, ensuring implementation of the new international accounting standards by the insurance industry worldwide will need strong input and agreement from insurance regulators, especially in developing countries. Accordingly, since December 2000, when the International Association of Insurance Supervisors (IAIS) opened its annual meetings to Observers, Barnert Global joined as an Observer Member and in that capacity has attended IAIS annual meetings in Cape Town, Bonn, and Santiago, many regional meetings when open to the public, as well as regional seminars in Lima, Krakow, Oaxaca, and Kuala Lumpur, Tokyo, Amman, and Delhi.
At the October 2000 IAIS Annual Meeting in Cape Town, Doug Barnert chaired an Observer member panel presenting to regulators and Observers on the subject of “Alternative Measurements of Risk for Insurers”.
At the request of French Insurance Supervisor Florence Lustman, in her capacity as Chair of the IAIS Accounting Subcommittee, Doug Barnert organizes and coordinates Observer discussions with the IAIS to ensure meaningful Observer input into the decision making process of the IAIS with respect to international accounting standards.
In June 2001, May 2002, and September 2002, Doug Barnert chaired the Observer presentations to the IAIS Accounting Subcommittee. Barnert Global is continuing to develop and promote methods of increasing communication among insurance regulators and Industry on this issue. The international travel associated with these activities affords Barnert Global opportunities to visit with insurers in a multitude of countries to keep them apprised of important developments and discuss their concerns in the international insurance accounting arena. The company also assists trade associations and insurers in the development and implementation of strategy with respect to international financial issues.
The new international insurance standards under development at the IASB will impact both domestic and international insurers. Barnert Global is a unique resource in a unique position to present the views and concerns of interested insurers and help prevent unintended consequences.
Before forming Barnert Associates, Doug Barnert was Vice President - Eastern Region for the Alliance of American Insurers, a national trade association of property/casualty insurers. Before that, he served as Assistant Deputy Commissioner for Research and Compliance for the Texas State Board of Insurance.
Barnert Global, Ltd. was formed in 1997 in response to the growing international regulatory discussions occurring around the world. It has become an important source of information on international insurance issues for IASB members, its staff, and Industry. Barnert Global has attended every open meeting of the International Accounting Standards Committee Board (IASB) and the Insurance Advisory Committee (and its predecessor Steering Committee) since IASB opened its doors to the public in March 1999. IASB is the principle entity responsible for the development of the international financial regulation framework recommended by the Financial Stability Forum.
Barnert Global believes that once developed by IASB, ensuring implementation of the new international accounting standards by the insurance industry worldwide will need strong input and agreement from insurance regulators, especially in developing countries. Accordingly, since December 2000, when the International Association of Insurance Supervisors (IAIS) opened its annual meetings to Observers, Barnert Global joined as an Observer Member and in that capacity has attended IAIS annual meetings in Cape Town, Bonn, and Santiago, many regional meetings when open to the public, as well as regional seminars in Lima, Krakow, Oaxaca, and Kuala Lumpur, Tokyo, Amman, and Delhi.
At the October 2000 IAIS Annual Meeting in Cape Town, Doug Barnert chaired an Observer member panel presenting to regulators and Observers on the subject of “Alternative Measurements of Risk for Insurers”.
At the request of French Insurance Supervisor Florence Lustman, in her capacity as Chair of the IAIS Accounting Subcommittee, Doug Barnert organizes and coordinates Observer discussions with the IAIS to ensure meaningful Observer input into the decision making process of the IAIS with respect to international accounting standards.
In June 2001, May 2002, and September 2002, Doug Barnert chaired the Observer presentations to the IAIS Accounting Subcommittee. Barnert Global is continuing to develop and promote methods of increasing communication among insurance regulators and Industry on this issue. The international travel associated with these activities affords Barnert Global opportunities to visit with insurers in a multitude of countries to keep them apprised of important developments and discuss their concerns in the international insurance accounting arena. The company also assists trade associations and insurers in the development and implementation of strategy with respect to international financial issues.
The new international insurance standards under development at the IASB will impact both domestic and international insurers. Barnert Global is a unique resource in a unique position to present the views and concerns of interested insurers and help prevent unintended consequences.
Before forming Barnert Associates, Doug Barnert was Vice President - Eastern Region for the Alliance of American Insurers, a national trade association of property/casualty insurers. Before that, he served as Assistant Deputy Commissioner for Research and Compliance for the Texas State Board of Insurance.
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- International Association of Insurance Supervisors
- International Acounting Statndards Board
- Strategic Asset Alliance
- NAIC International Accounting
- NAIC International Relations Committee
- Public Securities Association
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Barnert Global is Posting Comments to the International Acounting Standards Board's Exposure Draft 5 on Insurance Contracts.
According to information received, the IASB has decided to continue its policy of not posting comments on drafts until after the subjects have been discussed by the Board. In an effort to create a more open process, Barnert Global has opened this page to anyone who wants to share their comments with others in an open environment. We will also hyperlink to other websites where there are comments posted.
We hope this will energize the international dialogue and create better communications between all the participants in the process. Please email your comments to us and we will post them within a few days. Comments can be sent to GlobalTBR@Barnert.com.
VVO
(Austria) Position Paper on ED5
VVO
(Austria) Position Paper on Disclosures in ED5
SVV
(Switzerland) Cover Letter
SVV (Switzerland)
Comments on ED5
Joint Insurance Trade Association (USA, Japan, Germany, Austria) Comment Letter
IAA
Draft Response to ED5 transmitted to the IASB
-----Demand Deposit Floor
-----Fair Values
-----Investment Spreads
CEA (Europe) Comment Letter on ED5
GASC (Germany) Comments on ED5
Association of Belgian Actuaries Comments on ED5
Institute of Actuaries of Australia Comments on ED5
Joint Letter of Canadian Regulators on ED5
©2003, Barnert Publishing