The National Association of Insurance Commissioners (NAIC), representing regulators in all U.S. states and territories, reached a decision last Thursday after nearly three months of deliberation NOT to LOOSEN life insurers' capital and surplus requirements.
State insurance regulators use time-tested tools to protect consumers and help maintain a solvent and competitive marketplace,” NAIC President Roger Sevigny (of New Hampshire) said. “Today’s vote reflects our belief that it is not appropriate to make emergency, permanent industry-wide changes for which the need has not been demonstrated
NAIC did not rule out taking up the matter again in the future.
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