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A trade organization representative has told a regulators’ task force considering new loss reserve regulations for insurers that they need not include the property-casualty carrier, since existing rules already cover them.

“I hope it is clear that this should not apply to property-casualty reserves because P-C reserves are already based on principles-based reserving,” said Steve Broadie, vice president-financial legislation and regulation with the Property Casualty Insurers Association of America, Des Plaines, Ill.

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