NAIC ADOPTS REINSURANCE REGULATORY MODERNIZATION FRAMEWORK PROPOSAL
This past weekend, at its Winter Meeting, the NAIC adopted the Reinsurance Regulatory Modernization Framework proposal that has been under consideration for some time. The Florida and New York Insurance Departments, which had adopted their own proposals, announced that they would either withdraw or modify their newly-adopted proposals to be consistent with the NAIC's action. For further details, view a press release from the NAIC or a Jorden Burt Memorandum outlining the relevant issues. A prior version of this Memorandum was posted on this blog previously, and the changes resulting from the NAIC's recent action are highlighted in red for easy identification.
This post written by Rollie Goss.
