Life Insurers Should Recalculate Reserves: NAIC

Law360, New York (September 23, 2009, 4:50 PM EDT) -- The National Association of Insurance Commissioners has urged states to adopt a new model for life insurers that would require them to recalculate their reserves based on the risks they've taken on, a system the group said would better protect consumers.

At its fall national meeting on Wednesday, the NAIC approved changes to the Standard Valuation Model Law that will be updated in its manual by the end of 2009. The NAIC's new model, if adopted by state legislatures, would require life insurers to change the...
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