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2017 SESSION

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HB 1471 Reinsurance credits; SCC authorized to adopt certain regulations.

Introduced by: R. Lee Ware | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Reinsurance credits. Authorizes the State Corporation Commission to adopt regulations specifying additional requirements relating to or setting forth the valuation of assets or reserve credits, the amount and forms of security supporting certain reinsurance arrangements, and the circumstances pursuant to which credit will be reduced or eliminated. The measure adopts revisions to the Credit for Reinsurance Model Law adopted by the National Association of Insurance Commissioners. The revisions adjust the reinsurance collateral requirements for certified reinsurers.


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