This memo discusses The National Association of Insurance Commissioners’ 2009 Spring National Meeting held from March 15 to 18, 2009 in San Diego, California.  This Client Update highlights some of the developments from the Spring Meeting that are of particular interest to many of our insurance industry clients, including developments related to: (1) the creation of a Rating Agency Working Group; (2) proposed reserve and capital relief for life insurers and certain life insurance policies and variable annuity contracts; (3) the regulation of annuity sales; (4) principles-based reserving for life insurers; (5) the modernization of reinsurance regulation; and (6) the use of credit scores in the underwriting process for certain types of property and casualty insurance policies.