NAIC 2011 Fall National Meeting

14 November 2011
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Key takeaways 

  • The NAIC adopted amendments to its Credit for Reinsurance Model Act and Regulation that include collateral reduction for certified assuming insurers. 
  • The NAIC proposed that certain key elements of its Insurance Holding Company System Model Act and Model Regulation amendments adopted in December 2010 be made part of the NAIC state insurance department accreditation standards. 
  • The NAIC continued to develop its Own Risk Solvency Assessment (“ORSA”) Guidance Manual, which is designed to assess the adequacy of an insurer’s capital levels in light of the insurer’s unique business mix and strategy.