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Study the need to modify the Investments of Insurers Model Act (#280 and #283) by gathering input from all states regarding the use of the existing models and their effectiveness in addressing the issues that exist within insurers' portfolios, particularly during this most recent economic downturn. The Working Group should consider in this study the International Association of Insurance Supervisors standards on the same general topic as well as any issues that could arise from the recently adopted Financial Regulatory Reform. At the conclusion of such study, provide a recommendation to the Financial Condition Committee, including a request for model law development/change, if the recommendation is for the NAIC to devote its resources to such an effort.
2012 Charge
- Study the need to modify the Investments of Insurers Model Act – Defined Limits Version (#280) and the Investments of Insurers Model Act Defined Standards Version (#283) by gathering input from all of the states regarding the use of the existing models and their effectiveness in addressing the issues that exist within insurers' portfolios, particularly during this most recent economic downturn. The Working Group should consider in this study the IAIS standards on the same general topic as well as any issues that could arise from the federal Dodd-Frank Wall Street Reform and Consumer Protection Act. At the conclusion of such study, provide a recommendation to the Financial Condition (E) Committee, including a request for model law development/change, if the recommendation is for the NAIC to devote its resources to such an effort.
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