The top agenda item for the nation's insurance regulators meeting Saturday will be a proposed new scheme to guarantee the financial soundness of reinsurers.
At its meeting in San Antonio, Texas, the Reinsurance Task Force of the National Association of Insurance Commissioners will consider a proposal to scrap the current 100 percent collateral requirements for alien reinsurers in favor of assessing all reinsurers some percentage based on their financial strength ratings and other factors.
The domestic primary and secondary industries have formed a united front against the plan, asserting that the current system has not proven to be deficient in protecting policyholders.
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