NAIC 2018 Summer National Meeting

24 August 2018
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Key takeaways:
  • The NAIC continues to consider specific amendments to the Suitability in Annuity Transactions Model Regulation, including whether to replace the existing “suitable” standard with a “best interest” standard for the sale of annuities.
  • The development of a group capital calculation is moving forward, with a focus on preparations for field testing and identifying which entities to include within the field testing group that will be subject to the capital requirements.
  • The Reinsurance Task Force is considering comments on proposed amendments to the Credit for Reinsurance Model Law and Model Regulation regarding the reinsurance collateral requirements of the Covered Agreement. The Task Force aims to finalize revisions by the Fall National Meeting in November.