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You are here: Home / Reinsurance Transactions / Accounting for Reinsurance / FLORIDA PROPOSES NEW REINSURANCE CREDIT/COLLATERAL RULE

FLORIDA PROPOSES NEW REINSURANCE CREDIT/COLLATERAL RULE

December 26, 2007 by Carlton Fields

The State of Florida has proposed a new rule permitting a ceding insurer to take credit, as an asset or deduction from reserves, for reinsurance ceded to an eligible reinsurer based not upon the posting of collateral, but rather upon the reinsurer holding surplus in excess of $100 million and a stand-alone financial strength rating from at least two rating agencies. The amount of the credit allowed varies depending upon the reinsurers' financial rating.

This post written by Rollie Goss.

Filed Under: Accounting for Reinsurance, Reinsurance Regulation, Reserves, Week's Best Posts

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