The National Association of Insurance Commissioners takes a subdued, fact-based approach in its comments on how federal agencies should provide consolidated regulation of insurance companies which operate savings and loans.
The comment letter responds to specific questions asked by federal regulators regarding separate accounts, the general treatment of insurance underwriting, surplus notes, and policy loans.
The letter also offers comparison information on the substantive differences between generally accepted accounting principles and the statutory accounting principles (SAP) used by state regulators to evaluate the financial health of insurance companies.
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