Commissioner McCarty on the Signing of SB 1308 Insurer Solvency
“I would like to thank Governor Scott and the Legislature for their support of Senate Bill 1308 (Relating to Insurer Solvency) and for bringing solvency standards to the forefront during the 2014 Legislative Session. Florida now stands ready to implement additional tools to aid in the ongoing supervision of insurance holding companies.”
Commissioner McCarty helped develop the standards applied in this new law during his tenure as President of the National Association of Insurance Commissioners in 2012. For more information on these new solvency standards, as well as the law’s principle-based reserving approach used to determine appropriate reserve levels, please view this April news release: http://www.floir.com/PressReleases/viewmediarelease.aspx?id=2061.