The Solvency Modernization Initiative (SMI) Task Force hopes to see a model law or other tool developed by December 2012.
The task force, part of the National Association of Insurance Commissioners (NAIC), Kansas City, Mo., officially unveiled an updated version of the SMI Roadmap this week at the NAIC’s summer meeting in Seattle.
Arizona Insurance Director Christina Urias, chair of the task force, says the task force is studying solvency structures used all over the world.
The task force began its work in June 2008.