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: Structured Settlements 4RealLife Insurer Capital and Surplus Reductions A No Go-NAIC
By John Darer
The National Association of Insurance Commissioners (NAIC), representing regulators in all U.S. states and territories, reached a decision last Thursday after nearly three months of deliberation to NOT LOOSEN life insurers' capital and surplus requirmeents.
State insurance regulators use time-tested tools to protect consumers and help maintain a solvent and competitive marketplace,? NAIC President Roger Sevigny (of New Hampshire) said. ?Today?s vote reflects our belief that it is not appropriate to make emergency, permanent industry-wide changes for which the need has not been demonstrated
NAIC did not rule out taking up the matter again in the future.
NAIC Press Release January 29, 2009
Full post as published by Structured Settlements 4Real on February 01, 2009 (boomark / email).
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