Public Comments Accepted Until January 16, 2013 on NAIC Draft Process to Evaluate Non-U.S. Reinsurance Supervisory Systems for Recognition as Qualified Jurisdictions
Dec 4, 2012
The National Association of Insurance Commissioners’ (“NAIC”) Reinsurance Task Force will accept public comments until January 16, 2013 on a Draft Process to evaluate the reinsurance supervisory systems of non-U.S. jurisdictions for recognition as Qualified Jurisdictions in accordance with the revised NAIC Credit for Reinsurance Model Law and Regulation (Model #785 and Model #786). The models provide that an assuming insurer licensed and domiciled in a Qualified Jurisdiction is eligible to be considered for state certification as a reinsurer.
The Draft Process, which was considered by the Task Force during the NAIC Fall 2012 National Meeting, will lead to the development of a Qualified Jurisdictions list to be maintained on the NAIC’s public Web site, among other appropriate NAIC publications.
A copy of the Draft Process is attached in PDF format.
Should you have any questions or comments, please contact Colodny Fass& Webb.
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