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July 30, 2009 at 08:00 PM
An American Council of Life Insurers counsel is asking state regulators whether a reinsurance recoverables project will involve life insurers.
Wayne Mehlman, the counsel for insurance regulation at the ACLI, Washington, has written to David Vacca, an assistant director at the National Association of Insurance Commissioners, Kansas City, Mo., to ask about the reinsurance recoverables issue.
The NAIC’s Receivership & Insolvency Task Force recently adopted a charge that requires it to look into concerns about the timing and collection of reinsurance recoverables held by insurers in receivership.
The ACLI believes that the charge relates to property-casualty company insolvencies, not life company insolvencies, Mehlman writes in the letter.
