In regulatory news:

The National Association of Insurance Commissioners’ (NAIC) Financial Analysis Working Group has recommended the modification of Guideline 1090 for third party administrators (TPAs) by replacing its optional audit requirement with a mandatory one, according to a report by Colodny Fass for Workers’ Compensation Institute 360. The proposal is apparently related to the NAIC’s awareness of a larger number of insurers that use TPAs. The Working Group has proposed further that a mandatory audit (inclusive of managing general agents and TPAs) also become an NAIC accreditation requirement.

Read complete coverage of the new NAIC proposal here.

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