The National Association of Insurance Commissioners says it wants to hear from the public about the American Council Life Insurers’ proposal to ease financial pressure on insurers by changing capital and surplus rules.
Officers at the NAIC, Kansas City, Mo., talked about the proposal and the hearing today during a meeting of the NAIC’s executive committee and plenary.
The plenary is the body that includes all voting members of the NAIC.
Earlier, some had suggested that the NAIC might vote on the proposal today, but officials said during the meeting that the NAIC’s Capital and Surplus Working Group will have a public hearing on the proposal in Washington Jan. 27, then release a report in early February.
It is not clear whether the NAIC will vote on the proposal from the ACLI, Washington, in time for the proposal to affect 2008 financial statements.