OIR Offers Workshop on Life and Health Reinsurance Collateral Rule
If requested by interested parties, the Florida Office of Insurance Regulation (OIR) will hold a workshop to discuss a proposed rule relating to life and health reinsurance collateral requirements. The Office of Insurance Regulation may allow ceding insurers to take credit for reinsurance with unauthorized reinsurers that do not fully collateralize their programs as long as those reinsurers meet certain OIR requirements. The OIR has implemented the reduced collateral requirements for property and casualty insurance, and a number of reinsurers have met the OIR’s approval criteria. The OIR is now proposing to extend the reduced collateral requirements to reinsurers in the life and health arena.
The OIR will hold a workshop to discuss this proposal on May 14, 2012, at 9:30 at its office in Tallahassee. The OIR may cancel the workshop if no interested parties express interest in attending.