TITLE

Non-U.S. Reinsurers Get Relief from NAIC

AUTHOR(S)
Carr, Sean P.
PUB. DATE
January 2009
SOURCE
Best's Review;Jan2009, Vol. 109 Issue 9, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the move of the National Association of Insurance Commissioners (NAIC) to adopt a new reinsurance framework that will eliminate collateral requirements for non-reinsurers in the U.S. According to David Snyder of the American Insurance Association, the move of the NAIC is against to the interests of consumers and companies. The framework introduces a new department within the NAIC to determine which jurisdictions are entitled to enter into mutual recognition agreements.
ACCESSION #
36025492

 

Related Articles

  • U.S. Carriers Not Happy Campers Over NAIC's Proposed New Re Collateral Rules. Tuckey, Steven // National Underwriter / P&C;11/20/2006, Vol. 110 Issue 44, p6 

    The article reports on the opposition of domestic insurance carriers in the U.S. on the proposed new reinsurance collateral rules of the National Association of Insurance Commissioners Reinsurance Task Force. As the enforcement of the proposal will treat all carriers under the same rules...

  • NAIC Collateral Plan Stuns Reinsurers.  // National Underwriter / P&C;12/18/2006, Vol. 110 Issue 48, p24 

    The article focuses on the National Association of Insurance Commissioners' (NAIC's) proposal to demand collateral from all carriers operating in the U.S., foreign and domestic, according to the financial risk they pose. Currently, alien reinsurers are required to post 100 percent of their gross...

  • NAIC task force to review reinsurance collateral rules. Fletcher, Meg // Business Insurance;3/20/2006, Vol. 40 Issue 12, p4 

    The article focuses on the mix reaction of insurers to the plan of the National Association of Insurance Commissioners to review the reinsurance collateral rules in the U.S. Stakeholders of insurance companies are wary of the possible changes to be made in the reinsurance regulation. Foreign...

  • Walking a Fine Line. Cavanaugh, Bonnie Brewer // Best's Review;Dec2006, Vol. 107 Issue 8, p37 

    The article provides information on the results of the survey conducted by the publication "Best's Review," to more than 200 insurers in the U.S. It surveyed on a proposal by the National Association of Insurance Commissioners to end the long-held requirement which alien reinsurers deposit 100...

  • NAIC weighs in on non-U.S. regs. Fletcher, Meg; Veysey, Sarah // Business Insurance;9/17/2007, Vol. 41 Issue 38, p1 

    The article reports on the latest proposals of the U.S. National Association of Insurance Commissioners (NAIC) to modernize reinsurance regulation. The group claimed that these proposals are better than their previous efforts since principles to determine regulatory equivalence with other...

  • The Question Of Collateral: Reform of current U.S. collateral requirements should be one of many steps the industry takes to modernize reinsurance regulation to achieve open global markets on fair terms. Blundetto, Sandra G.; Cruz-Brown, Kelly; Vecchioli, Beth // Best's Review;Sep2006, Vol. 107 Issue 5, p70 

    The article focuses on efforts of the Reinsurance Task Force of the National Association of Insurance Commissioners to advance a proposal that would ease collateral requirements for non-U.S. reinsurers. It is noted that further modernization and reform regarding U.S. reinsurance regulation is...

  • The Question Of Collateral: Relaxing U.S. collateral requirements is directly at odds with the regulatory objectives of adequate capacity, affordable coverage, market stability, and most importantly, insurer solvency. Norvath, Karen // Best's Review;Sep2006, Vol. 107 Issue 5, p70 

    The article focuses on the intention of the National Association of Insurance Commissioners to propose a relaxation of the collateral requirements for alien reinsurers in the U.S. The move is directly at odds with the regulatory objectives of adequate capacity, affordable coverage, market...

  • NAIC Plenary OKs Re Measures. Connolly, Jim // National Underwriter / Life & Health Financial Services;12/15/2008, Vol. 112 Issue 42, p44 

    The article focuses on the reinsurance regulatory framework proposal adopted by the members of Kansas City, Missouri-based National Association of Insurance Commissioners (NAIC). The Reinsurance Regulatory Modernization Framework develops a conceptual framework for creating two new classes of...

  • NAIC Ushers in Major Shift for Collateral Requirements. Barrett, Eleanor // Best's Review;Jan2007, Vol. 107 Issue 9, p7 

    The article reports on the plan of the U.S. National Association of Insurance Commissioners to implement collateral requirements for its non-admitted reinsurers. During the meeting of the association's Reinsurance Task Force held in San Antonio, Texas, the group agreed to switch to a new scheme...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics