Regulators will be starting to plan their response to the Dodd-Frank Wall Street Reform and Consumer Protect Act next week at the National Association of Insurance Commissioners (NAIC) fall meeting.
Panels at the NAIC, Kansas City, Mo., are posting advance materials on their sections of the NAIC website in preparation for the upcoming fall NAIC meeting in Orlando, Fla., which is set to start Oct. 18.
The Financial Condition Committee says the Receivership and Insolvency Task Force will be looking at the Dodd-Frank Act to see what the NAIC and state receivers will have to do to prepare to meet act requirements.
The Reinsurance Task Force will be working to help with implementation of the reinsurance provisions in the Dodd-Frank Act, and it also will be working with other NAIC panels to develop the provisions states will need to create a transitional reinsurance program required by the Affordable Care Act, the new federal legislative package that includes the Patient Protection and Affordable Care Act (PPACA).
Another NAIC panel, the Valuation of Securities Task Force, will be consider proposals relating to residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS).
- Allison Bell