NAIC Update – Fall 2009 |
Publish date:
The autumn wind is ushering in change at the latest National Association of Insurance Commissioners meeting, as long-simmering issues are coming to a resolution while newer mandates are surfacing in the NAIC’s effort to modernize state-based insurance regulation as well as answer some of the challenges that have surfaced in light of the current environment.
Mixed in with an address by Vice President Joe Biden and a daylong hearing that brought credit rating agency principals face to face with regulators, action items at the NAIC’s Fall 2009 National Meeting included everything from adoption of changes to the Standard Valuation Law to final adoption of the organization’s much-revised natural catastrophe white paper.
Meanwhile, items on track for further action at the NAIC’s Winter National Meeting in December include a deferred-tax plan that would offer capital relief to insurers and further discussion on the NAIC’s role on the federal front as much as that pertains to its proposal for a National Insurance Supervisory Commission.
This edition of Deloitte's NAIC Update also captures the following highlights from the meeting:
- Next steps for the NAICs Reinsurance Modernization Model Legislation
- Reinsurance modernization efforts advance
- New York State Gains NAIC Accreditation
- NAIC Mulls Creating Own Catastrophe Model
- Accounting update
Download the full NAIC Update newsletter below.
NAIC Update – Fall 2009
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