A principle-based-reserving implementation plan by the National Association of Insurance Commissioners would establish a working group to assist states. The plan also involves an appraisal of risk-based capital requirements, suggested revisions to annual forms and a training schedule. The PBR Valuation Manual will undergo a 30-day comment period, and it must be approved by at least 42 state legislatures in order to become the reserving model.

Related Summaries