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Life Finance and Valuation Exam Old Individual Life and Annuities Forum

 
 
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Old 07-14-2018, 07:25 PM
dengel dengel is offline
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Join Date: May 2013
College: University of Nebraska-Lincoln Alumnus
Posts: 6
Default Reinsurance - Quarterly Settlement of Amounts

On page 133 of the reinsurance book it states for Funds Withheld Modified Coinsurance...
"Note that non-payment of the allowance within 90 days violates the NAIC and most state requirements for quarterly settlement of amounts due under reinsurance agreements. It may be possible to obtain regulatory approval for this method in specific circumstances."

So Funds Withheld Modified Coinsurance doesn't comply with most states' requirements.

Isn't this also true for Funds Withheld Coinsurance? (even though the book doesn't seem to point it out)
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