The National Association of Insurance Commissioners yesterday approved guidelines on how insurers' bond holdings should be evaluated.
Regulators unanimously adopted guidance in a Jan. 14 memo issued by Mike Moriarty, Valuation of Securities (VOS) Task Force chair and a New York regulator, during a conference call discussion.
NAIC through its Securities Valuation Office (SVO) in New York rates the securities holdings of carriers to ensure they are operating on a sound financial basis.
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