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31 J. Ins. Regul. 1 (2012)

handle is hein.journals/jloins31 and id is 1 raw text is: Editor's Perspective The thirty-first volume1 of the Journal offnsurance Regulation offers analysis and insight related to a diverse set of regulatory issues. Topics covered in this volume include current headline issues such as Solvency II, social media, and data security, as well as perennial standards like catastrophe insurance and adverse selection. Therefore, this volume should be considered required reading for everyone involved in insurance regulation. The first article in this volume is written by Pat Maroney, Lori Medders, and Chuck Nyce of Florida State University and the Florida Catastrophic Storm Risk Management Center. Prof. Maroney has announced his retirement from the University this year. While I wish him well in retirement, I hope he will remain involved in insurance regulation and education. His leadership will be missed. In this article, titled Managing Windstorm Exposure: Lessons Learned from Florida, the authors recount some of the challenges facing insurance markets in coastal areas and develop 10 suggestions for addressing these challenges. This article is an excellent example of how our system of state insurance regulation allows states to learn from each other. The second article was submitted by a trio of our neighbors to the north. Canadian insurance scholars Mary Kelly and Si Li of Wilfrid Laurier University and Anne Kleffner of University of Calgary offer a thorough analysis of the effects of regulatory decisions on insurance market outcomes. A primary finding of their study is that regulation of specific markets, such as automobile insurance, may have unintended consequences for unrelated markets, such as commercial insurance. In the third article, a group of esteemed international authors proposes a methodology for identifying systemically important financial institutions based on the firms' activities, rather than their static attributes. The article is titled The Identification of Systemically Important Financial Institution (SIFIs) in the Insurance Industry: An Activities-Based Methodology. The authors are Etti Baranoff, of Virginia Commonwealth University and the Geneva Association, Daniel Haefeli of the Geneva Association, Patrick Liedtke of Blackrock Investments, and Christian Schmaltz of Aarhus University. In the fourth article, Jim Carson of University of Georgia, Christopher Clarke of RGA Reinsurance, and Krzys Ostaszewski of Illinois State University address the incentives and welfare economics of backdating life insurance policies. While backdating is a common and legal occurrence, it is scarcely understood by practitioners and consumers. The authors' analysis demonstrates that consumers' interests would be better served by a less restrictive definition of age in life insurance underwriting, rather than allowing backdating of life insurance. 1. The articles in this volume appear, and are discussed below, in chronological order of acceptance. © 2012 National Association of Insurance Commissioners