The Irish Insurance Federation (IIF) welcomed the publication of the CEA (the European insurance and reinsurance federation) Report on the fundamental differences between insurers and banks. The CEA has called on the G-20 to take full account of the specific characteristics of insurance when designing regulatory initiatives to respond to the global financial crisis. The CEA also published a report (yesterday) highlighting the fundamental differences between insurance and banking and making recommendations for the effective regulation of insurers.

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