This blog updates our posting on December 11, 2007.
Edwards Angell Palmer & Dodge LLP attended the NAIC Reinsurance Task Force (the “Task Force”) meeting on September 22, 2008. During the meeting, Commissioner Goldman (New Jersey) directed the Task Force to discuss the most recent draft of the Reinsurance Regulatory Modernization Proposal (the “Proposal), and accepted comments from various parties and industry groups, including the American Insurance Association, the Reinsurance Association of America, the International Underwriting Association, and New York Life Insurance Company. Upon conclusion of the discussion, the Task Force voted to adopt the Proposal. The Task Force plans to take the adopted Proposal to the Financial Condition (E) Committee for vote today, September 24, 2008, after which the Proposal will go to the Executive Committee for vote during the NAIC winter meeting in Dallas.
Edwards Angell Palmer & Dodge LLP attended the NAIC Reinsurance Task Force (the “Task Force”) meeting on September 22, 2008. During the meeting, Commissioner Goldman (New Jersey) directed the Task Force to discuss the most recent draft of the Reinsurance Regulatory Modernization Proposal (the “Proposal), and accepted comments from various parties and industry groups, including the American Insurance Association, the Reinsurance Association of America, the International Underwriting Association, and New York Life Insurance Company. Upon conclusion of the discussion, the Task Force voted to adopt the Proposal. The Task Force plans to take the adopted Proposal to the Financial Condition (E) Committee for vote today, September 24, 2008, after which the Proposal will go to the Executive Committee for vote during the NAIC winter meeting in Dallas.
We will continue to monitor this issue and provide updates as needed on InsureReinsure.com.