Washington — In a letter to
The
Keating contends these requirements have become particularly onerous in light of the current credit crisis.
“For certain products, existing conservative reserving requirements have led life insurers to look to the capital markets for reserve relief in order to provide products to consumers that reflect more appropriate reserve levels,” the letter says. “With the current market disruptions, however, these capital markets solutions have virtually disappeared or become unavailable to many companies, and this having an impact on some balance sheets.”
Source: National Association of Insurance Commissioners