Regulations for finite reinsurance transactions were among theitems adopted by the National Association of InsuranceCommissioners during a conference call today.
Finite reinsurance and other issues were supposed to beaddressed during the fall meeting of the NAIC, which was scheduledto be held in New Orleans. However, Hurricane Katrina forced thecancellation of the meeting.
Al Gross, director of the Virginia insurance bureau, urgedadoption of disclosure requirements for finite reinsurance. Mr.Gross described how finite reinsurance could be a legitimate formof risk transfer.
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