• Update on NAIC and NCOIL Activity on Life Settlements
  • August 28, 2007 | Author: Joseph T. Holahan
  • Law Firm: Morris, Manning & Martin, LLP - Washington Office
  • Amendments to the National Association of Commissioners ("NAIC") Viatical Settlements Model Act continue to work their way towards final consideration by the NAIC. Last December, the Life & Annuities (A) Committee approved a package of amendments and sent the proposal to the Executive Committee for review. The proposed amendments included a five-year general prohibition on settlement of a policy after issuance.