WASHINGTON, D.C.–A National Association of Insurance Commissioners panel moved last week to break the logjam over the question of 100 percent collateral requirements for alien reinsurers, focusing efforts on a scheme to rate all companies in the same manner regardless of their nation of domicile.
The Reinsurance Task Force's move stunned and angered domestic primary and reinsurance industry representatives who feel solvency protection has been sacrificed for foreign interests.
The vote came at the behest of Maine Commissioner and NAIC President Al Iuppa, who felt the time was ripe to break through the rhetoric that has been echoing through regulatory forums for the past several years on the matter.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
