Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee advances holding‑company and group capital changes required by NAIC accreditation
Summary
House Bill 1124 updates North Dakota's insurance holding company system law to adopt NAIC model changes, adding group capital calculation and liquidity stress‑test tools and updating receivership provisions; committee approved a due‑pass recommendation.
The House Industry, Business and Labor Committee recommended due pass Tuesday on House Bill 1124, which updates North Dakota's insurance holding company supervision statute to align with revisions to a National Association of Insurance Commissioners (NAIC) model.
Matt Fisher, division director of company licensing and examinations for the North Dakota Insurance Department, presented the bill. He said the changes implement three areas of the NAIC model: a group capital calculation (GCC), a liquidity stress test (LST) for designated large life insurer…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
