New Jersey proposes tighter rules on life insurance reserves to match national standards

New Jersey proposes tighter rules on life insurance reserves to match national standards


The proposal, introduced by the Department of Banking and Insurance, calls for the adoption of the NAIC Term and Universal Life Insurance Reserve Financing Model Regulation #787, known within the industry as the XXX/AXXX Model Regulation. The move would bring uniformity and greater transparency to reserve financing, an area that has historically presented regulatory challenges.



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