The National Association of Insurance Commissioners has adopted model acts and regulations ranging from long term care coverage to treatment of hybrid securities. The adoption of the models by the executive committee and plenary of the NAIC, Kansas City, Mo., was completed during the winter meeting here.
Among actions taken was adoption of:
–The long term care insurance model act and model regulation.
–The producer training model bulletin for policies issued under qualified state long term care insurance partnerships.
–The Unauthorized Transaction of Insurance Criminal model act.
–Changes to the market regulation handbook.
–Short-term treatment of hybrid securities.