Financial Condition (E) Committee

The Mission of the Financial Condition (E) Committee is to be the central forum and coordinator of solvency-related considerations of the NAIC relating to accounting practices and procedures, blanks, valuation of securities, the Insurance Regulatory Information System (IRIS), financial analysis and solvency, zone examinations and examiner training and issues concerning insurer insolvencies and insolvency guarantees. In addition, the Committee interacts with the technical task forces.

2012 Charges

• The Financial Condition (E) Committee will monitor all of the changes to the Annual/Quarterly Statement Blanks and Instructions, risk-based capital formulas, Financial Condition Examiners Handbook, Accounting Practices and Procedures Manual, Financial Analysis Handbook, Purposes and Procedures Manual of the NAIC Securities Valuation Office, NAIC model laws, NAIC accreditation standards and other NAIC publications.

• The Financial Condition (E) Committee will study insurers' use of captives and special purpose vehicles to transfer 3rd party insurance risk in relation to existing state laws and regulations and establish appropriate regulatory requirements to address concerns identified in this study. The appropriate regulatory requirements may involve modifications to existing NAIC model laws and/or generation of a new NAIC model law.