GRAPEVINE, TEXAS--Final details remain to be put in place, but the nation's insurance regulators, after nearly a decade of study, have adopted a "conceptual framework" to modify the 100 percent collateral requirements for foreign reinsurers.
After the action by the National Association of Insurance Commissioners, at its winter meeting here, at least one industry group--the American Insurance Association--vowed to fight against implementation at state and federal levels.
"This proposal sets forth a conceptual framework only," said a statement from New Jersey Banking and Insurance Commissioner Steven M. Goldman, chair of the NAIC Reinsurance Task Force, which drafted the proposal.
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.
