Insurance Execs Getting the Message

Insurance Networking News ran a story last week on a recent KPMG survey of U.S.-based insurance executives. An interesting finding in the survey, at least for compliance types, was that regulatory issues have surpassed cost consciousness as the predominant concern of those surveyed. 60% of the respondents identified regulatory and legislative pressures as the most significant barriers to growth, up from 47% in last year’s survey. Not surprisingly, health care reform led the list of vexing compliance topics, but increased federal oversight, convergence of contract standards, corporate tax reform and consumer protections were also cited as concerns by at least 20% of the group.  

The key takeaway here?

Compliance has come a long way, baby.