Codification 'common ground' sought. (Codification of Statutory Accounting Principles)

National Underwriter Life & Health-Financial Services Edition, February, 1998 by Connolly, Jim

It may be possible to complete the Codification of Statutory Accounting Principles project to the satisfaction of both regulators and the insurance industry. Regulators had developed a document requiring disclosure in financial statements. However, a small portion of the industry are opposed to the disclosure document and they question the fairness of the proceedings.

A special committee on the Codification of Statutory Accounting Principles project -- established by the Executive Committee of the National Association of Insurance Commissioners at the winter meeting in Seattle -- is scheduled to meet Feb. 5, in Kansas City, Mo.

NAIC President Glenn Pomeroy said the group he has assembled, and which he chairs, includes Alaska Director Marianne Burke,...

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