The Receivership & Insolvency Task Force is seeking ideas about ways to handle timing and collection concerns involving reinsurance recoverables held by insurers in receivership.
The task force, an arm of the Financial Condition Committee at the National Association of Insurance Commissioners, Kansas City, Mo., is soliciting the comments from regulators and other interested parties in an effort to complete a charge approved March 18 by its parent committee.
“Please provide specific examples of the types of routine issues or delays that can arise in the collection of reinsurance recoverables held by insurers in receivership, as well as whether there are possible related solutions to address timing and collection concerns,” panel officials write. “Such recommendations could impact both receivers and reinsurers with regard to administrative processes, best practices and/or new statutory requirements.”
Comments are due June 10.