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Insurance Groups’ White Paper Urges Cost Containment For Statutory Financial Exams

Seven insurance trade groups–both in the property-casualty and life sectors–have jointly issued a white paper calling on the National Association of Insurance Commissioners to contain the costs of statutory financial examinations.

While commending the NAIC for its many improvements to the financial analysis process for monitoring the solvency of insurers, the white paper cites the “high degree of variation” among state financial examinations as the reason that “the current system isunnecessarily costly to insurers and therefore to the policyholders.”

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