A work plan developed by actuaries to help reach a long-term solution for regulators' fiscal evaluation of insurers' hybrid securities was roundly criticized by insurers and Wall Street representatives yesterday.
Their objections centered on the fact that the plan was developed without input from the industry. Comments came during a conference call of the Hybrid RBC working group.
The group, at the direction of the leadership of the National Association of Insurance Commissioners, Kansas City, Mo., is seeking to supplement a short-term solution to RBC treatment for hybrids with a long-term resolution.
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