WASHINGTON (Aug. 21, 2025)
不良研究所官方 Adopts Key Initiatives to Help Ensure Payment of Claims
Last week, during the National Association of Insurance Commissioners鈥 (不良研究所官方) Summer National Meeting in Minneapolis, Minn., 不良研究所官方 members voted to adopt three proposals that will further protect consumers by helping guarantee insurers have the resources to pay policyholders鈥 claims. This action comes after the 不良研究所官方 Life Insurance and Annuities (A) Committee passed the proposals in July.
鈥淥ne of our most important responsibilities as state insurance regulators is ensuring companies are responsible financial stewards and have the resources to keep their obligations to policyholders. These initiatives will increase the information available to regulators and companies to help each make the best decisions in an evolving landscape and marketplace. I want to thank all the regulators who developed and advanced each of these products for their outstanding work,鈥 said Ohio Department of Insurance Director and 不良研究所官方 Life Insurance and Annuities (A) Committee Chair Judith L. French.
不良研究所官方 members adopted:
- A new Generator of Economic Scenarios (GOES), which is designed to capture both the low-interest-rate environment of the last decade and the rate increases seen in the past few years. The updated generator will be used in life insurers鈥 calculations of principle-based reserves and capital needed to pay future claims.
- Principle-based reserving requirements for non-variable (i.e., fixed) annuities, which have become popular under the higher interest rates of the past few years. This approach is designed to more accurately capture risk across a broad array of non-variable annuity products while promoting sound risk management practices at life insurance organizations.
- Actuarial Guideline 55, which requires additional disclosures on certain reinsurance contracts to ensure life insurance companies still have adequate reserves after transferring risk to a reinsurer. This new requirement is especially important given life insurers鈥 increased use of reinsurance as they seek more capital to support rising sales of fixed annuities.
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (不良研究所官方) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the 不良研究所官方, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. 不良研究所官方 staff supports these efforts and represents the collective views of state regulators domestically and internationally.