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| Additional information |
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| Barnert Global, Ltd |
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Overview:
Barnert Global, Ltd. was formed in 1997 in response to the growing international regulatory discussions occurring around the world. It has become an important source of information on international insurance issues for IASB members, its staff, and Industry. Barnert Global has attended every open meeting of the International Accounting Standards Committee Board (IASB) and the Insurance Advisory Committee (and its predecessor Steering Committee) since IASB opened its doors to the public in March 1999. IASB is the principle entity responsible for the development of the international financial regulation framework recommended by the Financial Stability Forum.
Barnert Global believes that once developed by IASB, ensuring implementation of the new international accounting standards by the insurance industry worldwide will need strong input and agreement from insurance regulators, especially in developing countries. Accordingly, since December 2000, when the International Association of Insurance Supervisors (IAIS) opened its annual meetings to Observers, Barnert Global joined as an Observer Member and in that capacity has attended IAIS annual meetings in Cape Town, Bonn, and Santiago, many regional meetings when open to the public, as well as regional seminars in Lima, Krakow, Oaxaca, and Kuala Lumpur, Tokyo, Amman, and Delhi.
At the October 2000 IAIS Annual Meeting in Cape Town, Doug Barnert chaired an Observer member panel presenting to regulators and Observers on the subject of “Alternative Measurements of Risk for Insurers”.
At the request of French Insurance Supervisor Florence Lustman, in her capacity as Chair of the IAIS Accounting Subcommittee, Doug Barnert organizes and coordinates Observer discussions with the IAIS to ensure meaningful Observer input into the decision making process of the IAIS with respect to international accounting standards.
In June 2001, May 2002, and September 2002, Doug Barnert chaired the Observer presentations to the IAIS Accounting Subcommittee. Barnert Global is continuing to develop and promote methods of increasing communication among insurance regulators and Industry on this issue. The international travel associated with these activities affords Barnert Global opportunities to visit with insurers in a multitude of countries to keep them apprised of important developments and discuss their concerns in the international insurance accounting arena. The company also assists trade associations and insurers in the development and implementation of strategy with respect to international financial issues.
The new international insurance standards under development at the IASB will impact both domestic and international insurers. Barnert Global is a unique resource in a unique position to present the views and concerns of interested insurers and help prevent unintended consequences.
Before forming Barnert Associates, Doug Barnert was Vice President - Eastern Region for the Alliance of American Insurers, a national trade association of property/casualty insurers. Before that, he served as Assistant Deputy Commissioner for Research and Compliance for the Texas State Board of Insurance.
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