Chicago–The National Association of Insurance Commissioners has laid the groundwork for revising collateral requirements for non-U.S. reinsurers, but has left open when that could happen.
At the NAIC's winter meeting here the group's Reinsurance Task Force approved a white paper on the collateralization issue that sets the terms for the debate over whether foreign reinsurers should have to post collateral for the full amount of any liabilities that may be incurred in this country.
Representatives of both sides in the dispute–the domestic and alien reinsurers–have said the white paper was a fair representation of the issues involved and will serve as a good starting point for the debate.
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