Proposed new California regulations concerning credit forreinsurance have sparked insurance industry concerns that they mayput domestic and certain licensed companies in that state at acompetitive disadvantage.
Right now all states operate under the National Association ofInsurance Commissioners credit for reinsurance model law, which isdesigned to prevent insurers from going insolvent due to relianceon financially shaky reinsurers.
But the proposed new California regulations will set stricterstandards for both the state's domestic companies and thoselicensed companies that have 20 percent of their business in thestate.
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