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NAIC Okays New Reinsurance Disclosure Regs

Boston--The National Association of Insurance Commissioners has given preliminary approval to new requirements for annual statement disclosure and attestation aimed at ferreting out finite ...

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Boston–The National Association of Insurance Commissioners has given preliminary approval to new requirements for annual statement disclosure and attestation aimed at ferreting out finite reinsurance abuse.

The changes will add new interrogatories to ensure finite reinsurance agreements transfer enough risk to merit the favorable accounting treatment companies accrue from them.

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