Prof. Schwarcz Testifies to U.S. Senate Committee on Insurance Capital Standards

Professor Daniel Schwarcz testified to a U.S. Senate Subcommittee on Financial Institutions and Consumer Protection regarding the appropriate capital standards for certain insurers under the Dodd-Frank Wall Street Reform and Consumer Protection Act. His testimony was based largely on a forthcoming article titled "Regulating Systemic Risk in Insurance," which argues that insurance can be systemically risky and, for that reason, must be regulated, at least in part, at the federal level.