NAPA,CALIF.--U.S. reinsurers voiced opposition here to a National Association of Insurance Commissioners proposal to require all secondary carriers to post collateral for liabilities, regardless of nation of domicile.
Their complaints were voiced at the annual meeting of the National Conference of Insurance Legislators, where lawmakers were briefed on the NAIC proposal.
"What will be the value of a U.S. license?" asked Marcia Cohen, vice president of the Reinsurance Association of America.
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