Respond to the following:

Benchmarking is the practice of a business comparing key metrics of their operations to other similar companies. And the International Organization of Securities Commissions (IOSCO) is an association of organization that regulates the world’s securities and future markets (OICV-IOSCO). Specifically, the IOSCO Board seeks to articulate policy guidance and principles for Benchmark-related activities that will address conflicts of interest in the Benchmark-setting process, as well as transparency and openness when considering issues related to transition. Benchmarking has been around for a very long time unregulated until recent years the IOSCO was designed to supervise the market. The IOSCO will not eliminate current-use benchmarks because companies will always be in competition. And of course I don’t feel benchmarking should be eliminated, I really don’t believe it’s possible. Until now I really never thought a lot about benchmarking and now that I have a better understanding, maybe not fully, but enough to know there is technically no way to stop benchmarking. Unless is a reverse universe where companies will exclusively sale that one product. I can't even imagine that, it's almost like saying AT&T is the only company that sells internet, Verizon is the only cell phone carrier, and or Krispy Crème can only sell donuts, none of this will happen in our world. However, the IOSCO is there to focus on protecting the integrity of the business and addressing any conflicts of interests. When I think of benchmarking I will compare two similar companies selling the same product or service and wonder are there any conflicts of interests, because the market is so competitive and insurance is definitely a competitive business.

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From a personal point of view benchmarking should not be diminished with the introd... View the full answer