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21 J. Ins. Regul. 1 (2002-2003)

handle is hein.journals/jloins21 and id is 1 raw text is: Editor's Perspective Despite the superficial differences in terminology and organizational frameworks, regulation of insurance has at its core many constants. One of these is the need for sound actuarial data about the financial condition of an insurer. Another is the need to enhance and control the role of actuaries as deputies in the regulatory process. Finally, there seems to be an international tendency for regulation to lurch from solvency crisis to reform. These core principles are described aptly in the lead paper by professors Dewing and Russell. They offer an easily understood survey to the role of actuaries and auditors in European insurance regulation. Many of their themes will be familiar to U.S. regulators. Everyone talks about the weather. Insurers in the Greenhouse is serious talk about the consequences of major climatic changes on insurance losses. Evan Mills and his coauthors bring an interesting blend ofscientific knowledge and savvy about the insurance mechanism to bear on this important topic. The issue has surfaced before in the JIR Comparing the literature, one can detect more concern by insurers but little in the way of concrete steps to identify and control the causes of man-made climate change. One can expect more of these clarion calls for action in the years ahead. The JournaA mission calls for advancing the frontiers of research on regulation. Science seeks to prove and measure cause-and-effect relationships. Thus, many of our academic authors seek to measure the consequences of regulatory activity. Professors Wolf, Shelor, and Wagster are skilled researchers that apply their discipline to one of the most important financial regulations of the past dozen years of risk-based capital. Its success and performance has been studied and reported many times inthe Journal Here, Wolf etat offer empirical evidence ofthe positive effects of life risk-based capital on the valuation of life insurers by investors. Privacy in insurance continues to be a salient public-policy issue. Eric Nordman, NAIC's director of research, and I have teamed up to inform JIR readers on important privacy issues and resources available through the NAIC. Likewise, the short briefs on international regulatory developments point to important issues involving the leadership ofthe NAIC. Such shorter papers and notes will be part of an ongoing process to inform JIR readers of interesting and useful developments about insurance regulation and NAIC activities. As in past issues, our legal editor, Carolyn Johnson Speck, has selected important legal cases for review. She points to a number of interesting