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.
His comments came during a regulators' session on a principles-based reserving project that is advancing through the National Association of Insurance Commissioners, Kansas City, Mo.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
