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      "text": "While the work focused on Life and Health scalars, the approach was developed with the understanding that it could also be applied to Property & Casualty business",
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      "text": "In July 2023, the NAIC Group Capital Calculation (E) Working Group adopted the proposal to designate Excess Relative Ratio (ERR) scalars... 1. ERR scalars recognize differences in reserve methodologies... 2. ERR scalars can adjust to significant changes... 3. Many global insurers already use the ERR methodology...",
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      "text": "Following the NAIC's adoption of the ERR, ACLI and six member companies engaged Oliver Wyman... to: Define an approach to update and maintain the ERR scalars... Update the ERR scalars for 2023...",
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