FPCA: RAA Issues Letter Critical of Proposed Credit for Reinsurance Rule
Sep 3, 2008
The Reinsurance Association of America (“RAA”) submitted a letter yesterday, September 2, 2008, to the Florida Financial Services Commission that is critical of the Florida Office of Insurance Regulation’s proposed Rule 69O-144.007: Credit for Reinsurance from Eligible Reinsurers.
In the letter, the RAA asserts that the proposed Rule will not provide additional reinsurance capacity in Florida, but would instead give certain reinsurers a competitive advantage.
The proposed Rule is scheduled be heard by the Financial Services Commission for final adoption during the Florida Cabinet meeting on September 16, 2008.
A copy of the RAA letter is attached for your review.
Should you have any questions or comments, please do not hesitate to contact Colodny Fass.