Due to the stress of current market conditions the Property and Casualty Insurance Committee of the National Association of Insurance Commissioners (NAIC) yesterday appointed a new Market Conditions Working Group to monitor the most distressed lines of business, formulate solutions and propose regulatory responses. The announcement coincided with the association's Fall National Meeting.
"The insurance industry is sensitive to changing market conditions and price competition. Problems in any one market may be caused by multiple factors — catastrophes, changes in claims payout patterns, chang...
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