Instant Insights / The Business of Insurance

What's happening in insurance today? From market changes and M&A activity to new coverages, the insurance industry is ever-evolving. To stay up-to-date on the business, these articles, which are updated regularly, will help insurance professionals maintain a competitive edge.

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NAIC working group approves flexible COVID-19 accounting rules

The panel says grace periods for COVID-19 victims may have to be longer than the grace periods for big hurricanes.

By Allison Bell | April 23, 2020 at 07:01 AM

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A panel of state insurance regulators has issued accounting guidelines that insurers can use to support customers and borrowers hurt by COVID-19-related disruption.

The panel is called the Statutory Accounting Principles Working Group. It is part of the National Association of Insurance Commissioners (NAIC).

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