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The Financial Analysis Research and Development Working Group supervises the development of the automated analytical tools. The Working Group also monitors the continuing development and implementation of computer-based analytical techniques to assist regulators in effectively monitoring an insurers’ financial condition. Additionally, the Working Group evaluates the effectiveness of IRIS ratios:
- IRIS -- There are thirteen Insurance Regulatory Information System (IRIS) ratios calculated for Property/Casualty, twelve for Life/Health, and eleven for Fraternal companies that are calculated annually. A “usual range” of results for each ratio has been established from studies of the ratios for companies that have become insolvent or have experienced financial difficulties in recent years.
2012 Charges
- Provide ongoing maintenance and enhancements to the automated financial solvency tools developed to assist in monitoring the financial condition of insurance companies. Prioritize analysis and examination efforts to ensure the tools remain reliable and accurate.
- Review current financial analysis solvency tools for life insurance companies for consideration of risk with reserve liabilities as affected by principles-based reserving standards; make appropriate enhancements as necessary.
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