|
The mission of the Reinsurance (E) Task Force is to monitor and coordinate activities and areas of interest, which overlap to some extent the charges of other working groups, specifically the International Insurance Relations (G) Committee.
2012 Charges
-
Monitor and coordinate activities and areas of interest that overlap to some extent with the charges of other NAIC groups, specifically the International Insurance Relations (G) Committee.
-
Provide a forum for the consideration of reinsurance-related issues of public policy.
-
Provide guidance to the Financial Regulation Standards and Accreditation (F) Committee with respect to key elements of the revised Credit for Reinsurance Model Law (#785) and Credit for Reinsurance Model Regulation (#786) to be considered for the purposes of the NAIC a Financial Regulation Standards and Accreditation program.
-
Develop an NAIC process to evaluate the reinsurance supervisory systems of non-U.S. jurisdictions, for the purposes of developing and maintaining a list that includes any such jurisdiction that is recommended by the NAIC for recognition by the states as a qualified jurisdiction in accordance with the revised Model #785 and Model #786, under which an assuming insurer licensed and domiciled in a qualified jurisdiction is eligible to be considered for certification by a state as a certified reinsurer.
-
Form a new NAIC group to provide advisory support and assistance to the states in the review of reinsurance collateral reduction applications. Such a process with respect to the review of applications for reinsurance collateral reduction and qualified jurisdictions should strengthen state regulation and prevent regulatory arbitrage. Such an effort will be supported by NAIC staff with substantial expertise to support the functions of such a group.
-
Develop reporting instructions for forms CR-F and CR-S applicable to certified reinsurers under the revised Model #785 and Model #786.
-
Consider any other issues related to the revised Model #785 and Model #786.
-
Study issues regarding regulatory support for the collection of undisputed reinsurance recoverable balances held by insurers in receivership. Consider any appropriate NAIC action, which might include NAIC model law or guideline development.
-
Monitor the activities of the Property and Casualty Reinsurance (E) Study Group for matters that should be considered by the Reinsurance (E) Task Force.
-
Monitor the development of international principles, standards and guidance with respect to reinsurance. This includes but is not limited to monitoring the activities of various groups within the International Association of Insurance Supervisors (IAIS), including the Reinsurance and Other Forms of Risk Transfer Subcommittee, Reinsurance Mutual Recognition Subgroup and Reinsurance Transparency Group.
-
Consider the impact of reinsurance-related federal legislation, including but not limited to the Nonadmitted and Reinsurance Reform Act and the Federal Insurance Office Act, and coordinate any appropriate NAIC action.
|
|
|
