Insurance Europe has contributed for many years to the discussions at the National Association of Insurance Commissioners (NAIC) to modernise the “Credit for Reinsurance Model Law and Regulation” and welcomes the increased momentum and progress over the last few years to reform the collateral requirements for foreign reinsurers. The adoption by the NAIC of the revised Credit for Reinsurance Model Law and Regulation in November 2011 marked a good first step, and we appreciate the NAIC’s continued commitment to its collateral reform efforts with the publication of this consultation on the process for reviewing foreign jurisdictions.