Reinsurance Focus

On July 11, 2011, the NAIC Reinsurance Task Force held an interim meeting in New York City. The meeting addressed issues raised by comments to the task force’s two exposure drafts of the Credit for Reinsurance Model Law and Credit for Reinsurance Model Regulation, which were initially posted in February 2011. The Task Force discussed whether mandatory contract clauses should be included in the models; what requirements an assuming insurer must meet in order to be approved as a certified reinsurer; what specific information certified reinsurers should be required to file; issues regarding multiple beneficiary trusts; issues relating to reporting requirements for ceding insurers; proposed changes to the ratings/collateral matrix; issues regarding the revocation of certification; issues regarding restrictions to limit so-called “concentration risk;” special issues concerning life reinsurance contracts; clarification with respect to the application process; and whether the model language should be clarified to refer to “substantially similar financial solvency regulation” as opposed to “substantially similar credit for reinsurance standards.”

The Task Force posted two revised exposure drafts on its website on July 26, 2011 (see links above), which are open for comment through the close of business on August 24, 2011.

This post written by John Pitblado.

There are two conferences during the next couple of months which might be of interest to those interested in reinsurance. The Association of Insurance & Reinsurance Run-off Companies, in conjunction with Cavell and Mealey's, is presenting a conference on October 15-17 in Rutherford, New Jersey titled Highlights of Selected Issues in a Runoff from a US/UK Perspective. A brochure for this event is available on-line. November 14-15 is the time for Mealey's Global Reinsurance Forum, being held in Bermuda.

There are two conferences during the next couple of months which might be of interest to those interested in reinsurance. The Association of Insurance & Reinsurance Run-off Companies, in conjunction with Cavell and Mealey's, is presenting a conference on October 15-17 in Rutherford, New Jersey titled Highlights of Selected Issues in a Runoff from a US/UK Perspective. A brochure for this event is available on-line. November 14-15 is the time for Mealey's Global Reinsurance Forum, being held in Bermuda.

American Conference Institute is sponsoring a conference called Reinsurance Boot Camp at the Fairmont Hamilton Princess in Bermuda July 11-12, 2007. The program looks like a good general background program on the reinsurance industry and reinsurance transactions. The same organization sponsors other programs, which may of indirect interest to our readers, including programs relating to Fiduciary Liability, Disability Insurance and Obstetric Malpractice.

The American Council of Life Insurers and the Society of Actuaries are the organizing sponsors for ReFocus 2007, a conference focused primarily upon issues relating to life, health and annuity reinsurance. The conference will be held March 4-7, 2007, at the Hyatt Regency Lake Las Vegas Resort, Spa & Casino. See the program brochure provided by the event's program committee. For additional information, and to register for the conference, visit the conference's web site.

Mealey's has posted information about two reinsurance-related conferences:

• Solvent Schemes of Arrangement Conference, March 12-13, New York; and
• Fundamentals of Reinsurance Litigation and Arbitration Conference, March 15-16, New Orleans.

Mealey's has posted information about two reinsurance-related conferences:

• Solvent Schemes of Arrangement Conference, March 12-13, New York; and
• Fundamentals of Reinsurance Litigation and Arbitration Conference, March 15-16, New Orleans.

Information is now available regarding Mealey's 14th Annual Insurance Insolvency & Reinsurance Roundtable, to be held April 25-28, 2007, at The Fairmont Scottsdale Princess in Phoenix, Arizona.

Information is now available regarding Mealey's 14th Annual Insurance Insolvency & Reinsurance Roundtable, to be held April 25-28, 2007, at The Fairmont Scottsdale Princess in Phoenix, Arizona.

The New York City Bar Center for CLE and the Insurance Federation of New York are co-sponsoring a half day program titled Current Developments in Reinsurance Law, Tuesday morning, September 19, 2006 at the New York City Bar facility.