Life/Annuities/Credit/ Disability

Consumer Groups Oppose Proposal To Change Accounting Rules for Deferred Tax Assets

Proposed Change Would Harm Consumers By Reducing Amount of True Liquid Resources Available to Insurers

 |  Testimony & Comments

The Consumer Federation of America (CFA) and Center for Economic Justice (CEJ) strongly oppose the proposed changes to the accounting treatment for deferred tax assets before the National Association of Insurance Commissioners. The proposed change hurts consumers by reducing the amount of liquid resources available to insurers, and requiring less cash to meet regulatory standards. It is anti-consumer and should be rejected.