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NAIC: Global Insurance Capital Standards Won't Replace State RBC Regime

The NAIC said it has serious concerns about the timing, necessity and complexity of developing a risk-based global insurance capital standard given legal and regulatory differences around the globe, but that it intends to stay in the process rather than resist it.

By Elizabeth Festa | Updated on December 16, 2013

The National Association of Insurance Commissioners (NAIC) said it has serious concerns about the timing, necessity and complexity of developing a risk-based global insurance capital standard (ICS) given legal and regulatory differences around the globe, but that it intends to stay in the process rather than resist it.

The ICS are to be included within ComFrame, the project begun in 2010 by the International Association of Insurance Supervisors (IAIS).

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