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NAIC Bares New Finite Rules

NU Online News Service, May 12, 10:55 a.m. EDT--The National Association of Insurance Commissioners has stepped into the current controversy over the use of ...

By Steve Tuckey | Updated on February 04, 2005

NU Online News Service, May 12, 10:55 a.m. EDT–The National Association of Insurance Commissioners has stepped into the current controversy over the use of finite reinsurance products with proposed new disclosure requirements.

According to a statement released by the NAIC late yesterday afternoon, the latest proposed disclosures would require an insurer to report to state insurance regulators any agreement that has the effect of altering policyholders’ surplus by more than 3 percent, or representing more than 3 percent of premium or losses.

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