The National Association of Insurance Commissioners announced it has selected Conning, a leading global software and professional services firm based in Hartford, Conn., to provide an economic scenario generator software platform for use in calculations of life and annuity statutory reserves and capital under the NAIC risk-based capital requirements. Conning will provide the NAIC with updated real-world scenarios modeling interest rates, equities and other economic factors, and provide full documentation and training materials for regulators and insurers. The firm will also work with the NAIC to review proposed changes and implement those adopted by regulators. The NAIC’s risk-based capital program began in the early 1990s as an early warning system for U.S. insurance regulators, driven by a string of large-company insolvencies.