Learning path
Insurance Regulations learning path: everything to study, topic by topic
Comprehensive insurance regulation assessment covering regulatory frameworks, Solvency II, IFRS 17 accounting, US state-based regulation, consumer protection, market conduct, regulatory reporting, and expert regulatory strategy.
Short answer
To learn Insurance Regulations, work through 7 modules and 20 topics in the order they build on each other. It starts with Insurance Regulatory Framework, then moves on to Solvency II Framework and IFRS 17 Accounting. Use the map as a checklist, or measure your level and study only what is missing.
What you will study
Topics are grouped by module. Open one to see its objectives and key concepts.
1 · Insurance Regulatory Framework3 topics
Insurance Regulatory Landscape
Understanding the global insurance regulatory landscape including key regulators, regulatory objectives, and the distinction between prudential and conduct regulation
Objectives
- Map the insurance regulatory landscape across major jurisdictions and identify key supervisory bodies
- Distinguish between prudential and conduct regulation and explain their complementary objectives
Key concepts
- prudential regulation
- conduct regulation
- regulatory objectives
- insurance supervisory authorities
Licensing & Authorization
Navigating insurance company licensing, agent and broker authorization, and ongoing compliance with conditions of authorization
Objectives
- Navigate the insurance licensing process for companies and intermediaries across jurisdictions
- Manage ongoing compliance with conditions of authorization and continuing education requirements
Key concepts
- company licensing
- agent licensing
- broker authorization
- conditions of authorization
- continuing education
Insurance Governance Structure
Designing governance frameworks for insurance companies including board composition, key function holders, fit and proper requirements, and internal controls
Objectives
- Design an insurance governance framework that meets regulatory expectations for board oversight and key functions
- Implement fit and proper assessments and three lines of defense within an insurance organization
Key concepts
- board composition
- key function holders
- fit and proper requirements
- internal controls
- three lines of defense
2 · Solvency II Framework3 topics
SCR & MCR Capital Requirements
Understanding the Solvency Capital Requirement and Minimum Capital Requirement calculations, including standard formula, internal models, and own funds classification
Objectives
- Calculate SCR and MCR using the standard formula and explain the role of each risk module
- Classify own funds into quality tiers and evaluate capital adequacy against Solvency II requirements
Key concepts
- Solvency Capital Requirement
- Minimum Capital Requirement
- standard formula
- internal models
- own funds tiering
- Tier 1 capital
Own Risk & Solvency Assessment
Conducting the Own Risk and Solvency Assessment including forward-looking risk identification, stress testing, capital planning, and supervisory reporting
Objectives
- Design and execute an ORSA process that meets Pillar 2 requirements and adds genuine risk management value
- Develop stress and reverse stress test scenarios that reveal material vulnerabilities in the solvency position
Key concepts
- ORSA process
- forward-looking assessment
- stress testing
- reverse stress testing
- capital planning
- supervisory reporting
Technical Provisions & Reserving
Calculating Solvency II technical provisions including best estimate liabilities, risk margin, contract boundaries, and discount rate methodology
Objectives
- Calculate best estimate liabilities and risk margin for insurance and reinsurance contracts
- Apply the appropriate discount rate methodology including volatility and matching adjustments
Key concepts
- best estimate liability
- risk margin
- contract boundaries
- discount rate curve
- volatility adjustment
- matching adjustment
3 · IFRS 17 Accounting3 topics
Building Block Approach (BBA/GMM)
Applying the General Measurement Model under IFRS 17 including fulfilment cash flows, contractual service margin, and profit recognition patterns
Objectives
- Apply the BBA/GMM to measure insurance contract liabilities and recognize profit over the coverage period
- Identify and account for onerous contracts at initial recognition and subsequent measurement
Key concepts
- fulfilment cash flows
- contractual service margin
- general measurement model
- building block approach
- profit recognition
- onerous contracts
CSM & Risk Adjustment
Managing the Contractual Service Margin amortization, risk adjustment calculation, and the interaction between CSM releases and experience variances
Objectives
- Calculate CSM amortization using appropriate coverage units and explain the impact of assumption changes
- Determine the risk adjustment using a confidence level approach and disclose the methodology transparently
Key concepts
- CSM amortization
- coverage units
- risk adjustment
- confidence level
- experience variances
- assumption changes
PAA & Variable Fee Approach
Applying the Premium Allocation Approach for short-duration contracts and the Variable Fee Approach for direct participating contracts under IFRS 17
Objectives
- Determine PAA eligibility and apply the simplified measurement model for short-duration contracts
- Apply the VFA to direct participating contracts and account for changes in the insurer's share of underlying items
Key concepts
- premium allocation approach
- eligibility test
- variable fee approach
- direct participating contracts
- underlying items
- financial risk mitigation
4 · US Insurance Regulation3 topics
State-Based Regulatory System
Navigating the US state-based insurance regulatory system including domiciliary regulation, state insurance departments, and the role of the NAIC in harmonization
Objectives
- Navigate the US state-based regulatory system and explain the role of the NAIC in promoting uniformity
- Evaluate the implications of domiciliary vs non-domiciliary regulation for multi-state insurers
Key concepts
- state insurance departments
- domiciliary state
- NAIC model laws
- accreditation program
- McCarran-Ferguson Act
- federal vs state regulation
NAIC Risk-Based Capital
Understanding the NAIC Risk-Based Capital framework including RBC formula components, IRIS ratios, action levels, and regulatory intervention triggers
Objectives
- Calculate RBC ratios and interpret IRIS financial ratio results to assess insurer financial health
- Explain the regulatory action levels and intervention triggers under the NAIC RBC framework
Key concepts
- RBC formula
- IRIS ratios
- action levels
- company action level
- regulatory action level
- authorized control level
- mandatory control level
Admitted vs Non-Admitted & Surplus Lines
Understanding the distinction between admitted and non-admitted insurers, surplus lines regulation, eligibility requirements, and the Nonadmitted and Reinsurance Reform Act
Objectives
- Navigate surplus lines placement requirements including diligent search and eligible insurer verification
- Apply the NRRA framework to determine which state regulates surplus lines taxation and compliance
Key concepts
- admitted insurer
- non-admitted insurer
- surplus lines
- diligent search
- eligible surplus lines insurer
- NRRA
- home state regulation
5 · Consumer Protection & Market Conduct3 topics
Market Conduct Examinations
Preparing for and managing market conduct examinations including scope, document production, examiner engagement, and remediation of findings
Objectives
- Prepare the organization for market conduct examinations with efficient document production and examiner management
- Develop remediation plans that address examination findings and demonstrate sustainable compliance improvements
Key concepts
- market conduct examination
- targeted exam
- comprehensive exam
- examination scope
- document production
- remediation plan
Rate & Form Filing
Managing insurance rate and form filing requirements including prior approval, file-and-use, use-and-file systems, and actuarial justification
Objectives
- Navigate different state rate filing systems and prepare actuarially justified rate filings
- Ensure form filings comply with state requirements for policy language, readability, and consumer protections
Key concepts
- prior approval
- file and use
- use and file
- flex rating
- actuarial justification
- rate adequacy
- unfair discrimination
Claims Regulation & Unfair Practices
Complying with claims handling regulations including the Unfair Claims Settlement Practices Act, prompt payment requirements, and anti-fraud provisions
Objectives
- Design claims handling procedures that comply with unfair claims settlement practice requirements
- Balance thorough claim investigation with prompt payment obligations and anti-fraud provisions
Key concepts
- Unfair Claims Settlement Practices Act
- prompt payment
- claim investigation standards
- bad faith
- anti-fraud SIU
- claims best practices
6 · Regulatory Reporting & Compliance3 topics
Statutory Reporting & Financial Statements
Preparing statutory financial statements, annual and quarterly filings, and managing the relationship between SAP and GAAP/IFRS reporting
Objectives
- Prepare statutory financial statements that comply with SAP requirements and reconcile key differences with GAAP
- Manage the annual and quarterly filing process with accurate data, timely submission, and quality controls
Key concepts
- statutory accounting principles
- annual statement
- quarterly statement
- SAP vs GAAP
- Schedule D
- Schedule P
- Management Discussion and Analysis
Insurance Holding Company Regulation
Complying with insurance holding company act requirements including affiliate transactions, change of control approvals, and group supervision
Objectives
- Navigate holding company act requirements for affiliate transactions including prior notice and approval thresholds
- Manage the change of control approval process and ongoing group supervision requirements
Key concepts
- holding company act
- affiliate transactions
- Form A change of control
- Form B registration
- Form D prior notice
- group capital calculation
- group supervision
State Guaranty Funds & Insolvency
Understanding the state guaranty fund system, insolvency proceedings, rehabilitation vs liquidation, and policyholder protection mechanisms
Objectives
- Navigate the guaranty fund assessment process and explain policyholder protection mechanisms across states
- Advise on the regulatory tools available from conservation through rehabilitation to liquidation proceedings
Key concepts
- guaranty fund assessments
- coverage limits
- rehabilitation
- liquidation
- conservation
- policyholder priority
- NOLHGA
- NCIGF
7 · Expert Regulatory Strategy2 topics
Cross-Border Regulatory Strategy
Designing regulatory strategies for insurers operating across multiple jurisdictions including equivalence frameworks, group supervision, and regulatory arbitrage risks
Objectives
- Design a cross-border regulatory strategy that satisfies home and host supervisor requirements while minimizing capital inefficiency
- Evaluate equivalence frameworks and their practical impact on group structure and capital management decisions
Key concepts
- equivalence assessment
- third-country branches
- group supervision
- regulatory arbitrage
- covered agreement
- IAIS ComFrame
- Internationally Active Insurance Groups
RegTech & Regulatory Innovation
Leveraging regulatory technology for insurance compliance including automated reporting, InsurTech regulatory sandboxes, and emerging regulatory frameworks for AI and digital insurance
Objectives
- Design a RegTech architecture that automates insurance regulatory reporting and compliance monitoring
- Navigate emerging regulatory frameworks for InsurTech, AI-driven underwriting, and digital distribution
Key concepts
- RegTech platforms
- automated regulatory reporting
- regulatory sandbox
- InsurTech regulation
- AI governance in insurance
- digital insurance frameworks
- open insurance
Levels: Junior, Mid, Senior, and Expert
Explain it in your own words
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Frequently asked questions
Where should I start studying Insurance Regulations?
Start with Insurance Regulatory Framework: Insurance Regulatory Landscape, Licensing & Authorization, and Insurance Governance Structure. The map orders topics by what they depend on, so each one prepares the next.
How long does a full Insurance Regulations assessment take?
A full assessment of this path takes about 50 minutes. Study time depends on where you start; a diagnostic shows which topics you can skip.
Do I need an account to use this page?
No. The map, objectives and key concepts are open. You only need an account to be measured, get your gap by topic and receive a plan.