NU Online News Service, Feb. 11, 2:52 p.m. – The National Association of Insurance Commissioners, Kansas City, Mo., adopted a recommendation that minimum guarantee rates in fixed insurance contracts be lowered to 1.5% from the current 3% minimum.
The NAIC executive committee and plenary approved the recommendation Feb. 9, during the annual commissioners’ weekend in San Antonio.
The recommendation applies largely to fixed insurance contracts and the fixed options in variable insurance contracts.