For the first time since the Great Depression, leaders in the insurance industry are facing truly challenging economic conditions. For most of us, this will be the biggest challenge of our business careers. Will we succeed splendidly or fail miserably? Let's consider the issues facing us in 2009 and how we might best respond to them.
Capital-to-Surplus Ratios
Insurers authorized to underwrite long-term care and other health insurance products in Florida are mandated by statute to meet minimum Florida-specific capital and surplus requirements and National Association of Insurance Commissioners Risk-Based Capital ratio standards. Life and health insurers must maintain capital and surplus to the greater amount of $1.5 million or four percent of total liabilities, plus six percent of liabilities for health insurance.
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