Regulators collectively deny life insurance industry's request for 2008 capital and surplus relief, leaving states free to exercise independent judgment

Regulators collectively deny life insurance industry's request for 2008 capital and surplus relief, leaving states free to exercise independent judgment
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On January 29, 2009, the National Association of Insurance Commissioners' (NAIC) Executive Committee declined to adopt on an emergent basis nine proposals from the American Council of Life Insurers (ACLI) aimed at easing reserve and capital requirements for year-end 2008. However, the applicable committees and groups (e.g. Life and Health Actuarial Task Force and the SAP Working Group) will continue to consider the proposals for future adoption of the NAIC's normal operating procedures.