N.Y. pulls out of agreement on life insurance reserves

09/12/2013 | New York Times (tiered subscription model), The

New York Financial Services Superintendent Benjamin Lawsky says that 2012 rules for life insurers' reserves are promoting "gamesmanship and abuses," and the state will drop out of a multistate agreement for testing them. As of Friday, New York will require insurers offering universal life with secondary guarantees to add $4 billion collectively to their reserves.

View Full Article in:

New York Times (tiered subscription model), The

Published in Brief: