Insurance companies will get a $790,000 break on the annual fee the National Association of Insurance Commissioners levied on carriers who exercised their right to avoid an NAIC rating of their stock portfolios.

The $790,000 represents half of the 2005 $1.58 million fee assessed to insurance companies under the terms of a 2003 agreement. Under that arrangement insurers could exempt securities rated by a nationally recognized standard rating organization from review by the NAIC Securities Valuation Office.

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