National Underwriter Property & Casualty-Risk & Benefits Management, February 16th, 1998
The National Association of Insurance Commissioners (NAIC) plans to implement its comprehensive accounting codification guidelines which will form the basis for insurance accounting as early as Jan 1, 1999. This event signals the de facto shift of power from state regulators to the NAIC for oversight of the insurance industry.
The fist may be in a velvet glove--one with the pinstripes of the accounting profession--but the fist is clearly a factor in the de facto transfer of regulatory power from states to the National Association of Insurance Commissioners vis passage of the NAIC's pending co...
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