In the latest episode of Skadden's yearlong podcast series on global prudential solvency requirements, host Rob Chaplin and colleague Chiara Iorizzo explore regulatory capital in the United States, one of the largest insurance markets in the world. They discuss how the insurance industry is regulated across the country, as well as how the National Association of Insurance Commissioners operates and interacts with state-level regulators. They also review how solvency capital is calculated in the U.S. and how companies licensed in multiple states must adhere to relevant laws in each jurisdiction, among other topics.

Name: Robert Chaplin

Title: Partner, Insurance at Skadden

Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II.

Connect: LinkedIn

Name: Chiara Iorizzo

What she does: Chiara is an associate in Skadden's Financial Institutions Group who is admitted to practice in England & Wales and in New York.

Organization: Skadden

Words of wisdom: “Each insurance company is domiciled in one state, subject to certain exceptions where an insurer can be deemed to be commercially domiciled in a second state. While insurers are primarily regulated by the domiciliary regulator, they're also subject to the laws of each and every state where they're licensed.”

Connect: LinkedIn

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The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.