NAIC Update – Winter 2009 |
Lessons learned from the current financial environment have led state insurance regulators to rethink and revamp existing model laws and regulations, as well as to reach forward in expanding and emboldening the roles insurance regulators play in the marketplace.
These developments, along with some surprises, were evident at the 2009 Winter National Meeting of the National Association of Insurance Commissioners (NAIC), where regulators, industry representatives, members of the National Conference of Insurance Legislators and other interested parties debated issues ranging from the proposed creation of a quasi-federal National Insurance Supervisory Commission (NISC) to the reemergence of the credit-based insurance scoring debate.
Healthy discussion also surrounded proposals that are swiftly moving through the NAIC in reaction to economic challenges, actions taking place on the federal level and standards being set by international groups, such as the G-20 and the International Association of Insurance Supervisors.
This edition of Deloitte's NAIC Update provides highlights from the meeting, including:
- NAIC adopts deferred tax accounting change
- Discussion on NISC heats up
- Solvency modernization moves forward
- Regulators advance oversight of residential mortgage-backed securities
- Accounting update
Download the full NAIC Update newsletter below.
NAIC Update Winter 2009
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