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2012 Charges
The mission of the Surplus Lines (C) Task Force is to monitor the surplus lines market and its operation and regulation, including the activity and financial condition of U.S. and non-U.S. surplus lines insurers by providing a forum for discussion of issues and to develop or amend model regulation.
- Maintain the IID Plan of Operation and its requirements relating to standards for inclusion on the NAIC Quarterly Listing of Alien Insurers ("Quarterly List") concerning capital and/or surplus funds, U.S. trust accounts and fitness of management among other criteria. This charge is on-going and will be assumed by the IID Plan of Operation Review Group;
- Perform financial analysis of surplus lines market utilizing the NAIC Financial Data Repository and other sources in order to prepare a regulator report;
- Provide assistance, when needed, to address aspects in the surplus lines subtitle of the federal Nonadmitted and Reinsurance Reform Act.
- Develop and oversee implementation of state-based solutions addressing the surplus lines subtitle of the Nonadmitted and Reinsurance Reform Act.
(Revisions to charges pending approval by Executive (EX) Committee/Plenary at the Spring National Meeting)
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