New Jersey: NAMIC Raises Concerns About Reinsurance Collateral Reduction, But Bill Advances
Despite concerns raised by NAMIC and other representatives of primary insurers, the Assembly Financial Institutions and Insurance Committee last week approved legislation that would allow for reduction in the amount of collateral that nondomestic reinsurers must post in order for primary insurers to get credit for reinsurance purchased from those reinsurers on their financial statements.
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