State regulators turn fire on NAIC over principle-based reserving


US state regulators are in open rebellion against the National Association of Insurance Commissioners' (NAIC) plans to introduce a new reserving system for life insurers, amid fears it will result in firms holding less capital to back their liabilities.

A number of state commissioners have lined up to warn the NAIC that ploughing ahead with implementation of principle-based reserving (PBR) without taking on board the concerns of individual states could upset the domestic insurance market and

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