Regulators Ditch RBC Proposal
Regulators at the National Association of Insurance Commissioners winter meeting in California, facing fierce opposition from insurers, have abandoned a proposal to boost risk-based capital levels required for property-casualty insurers to support operations.
The decision, announced at an ad hoc subgroup session by the risk-based capital taskforce at the NAIC meeting in Anaheim, drew a collective sigh of relief from insurers and industry associations, according to trade group representatives. The industry, for months, has been vocal in urging regulators to ditch the proposal.
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