Washington — In a letter to National Association of Insurance Commissioners (NAIC) President Sandy Praeger, the American Council of Life Insurers (ACLI) is advocating revisions to the current reserving system.
The letter, signed by ACLI president and CEO Frank Keating, says that economic turmoil has forced life insurers to find new ways to conserve and attract capital. “In some situations, our current reserving system and risk-based capital systems are simply too conservative, which has the effect of reducing stated capital positions,” the letter states.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access