NAIC Accepting Comments on Insurance Holding Company Models Until July 21
Jun 25, 2010
Drafts of the National Association of Insurance Commissioners’ (“NAIC”) Insurance Holding Company System Model Act (#440) and the Insurance Holding Company System Model Regulation (#450) are being made available for comments from interested parties until July 21, 2010.
Recently approved by the NAIC’s Group Solvency Issues Working Group (“Working Group”), Model Act #440 relates to insurance holding company requirements. It also pertains to subsidiaries of insurers, acquisition of control of, or merger with domestic insurers, acquisitions involving insurers not otherwise covered, registration of insurers and standards and management of an insurer within a holding company system. Model Regulation #450, which also was approved by the Working Group, sets forth rules and procedural requirements necessary to carry out the provisions of the Model Act #440.
Hyperlinks to Model versions most recently approved by the Working Group are below:
Comments should be submitted to Dan Daveline (ddavelin@naic.org) at the NAIC by the close of business on July 21, 2010.
After comments are received, the NAIC’s Financial Condition Committee will review both Models.
Should you have any comments or questions, please contact Colodny Fass.
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