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On May 26, just before the start of the 2015 Financial Summit, the Financial Regulation Standards and Accreditation Committee of the National Association of Insurance Commissioners (NAIC) unanimously adopted proposed revisions to the Part A: Laws and Regulations Accreditation Preamble.

Under the proposed revisions, certain captive insurers and special purpose vehicles (SPVs) would be added into the accreditation program. According to the committee, the revisions would include regulation of those captives and SPVs that assume XXX or AXXX business, variable annuities and long-term care business. Currently, the program does not regulate these types of companies.

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