State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to complete, would – if adopted …
Lloyd’s announced that it has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s said it has been approved as a “Secure-3 reinsurer, meaning its collateral requirements will be reduced from 100 percent …
Another reinsurer has stepped forward to take advantage of a Florida law that allows it to lower its collateral and still conduct business in the state. Florida regulators announced that Alterra Bermuda Limited has been authorized to reduce its collateral …
