Conference Call
Wednesday, November 29th
12:00pm ET/11:00am CT for 1.5 hours

Conference Call
Friday, October 27th
12:00pm ET/11:00am CT for 1 hour

Conference Call
Friday, August 25th
2:00pm ET/1:00pm CT

2017 Summer National Meeting
Philadelphia, PA
Sunday, August 6, 2017
10:00 – 11:00 a.m.
Marriott–Grand Ballroom H–Level 5

Conference Call
Monday, July 10th
2:00pm ET/1:00pm CT for 2 hours

Conference Call
Wednesday, June 21st
1:00pm ET/12:00pm CT

Conference Call
Thursday, June 1
3:00pm ET/2:00pm CT for 2 hours

Conference Call
Tuesday, May 16th
3:00pm ET/2:00pm CT

Related NAIC Publications

Contacts

Receivership Model Law (E) Working Group

 

2017 Charges:

The Receivership Model Law Working Group of the Receivership and Insolvency (E) Task Force will:

  1. Continue to study the states' receivership laws and practices in comparison to the Financial Stability Board's (FSB) Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes) and its corresponding assessment methodology. Identify and provide recommendations for possible enhancements to the U.S. receivership regime based on the study, as well as recommendations to the FSB for possible future enhancements to either the Key Attributes or the assessment methodology.

  2. Review and provide recommendations on any issues identified that may affect receivership model laws; for example, any issues that arise as a result of federal rulemaking and studies, international resolution initiatives or as a result of the work performed by other NAIC committees, task forces and/or working groups.

  3. Evaluate and consider the changing marketplace of long-term care insurance products and the potential impact on guaranty funds.

  4. Evaluate the need for amendments to the Life and Health Insurance Guaranty Association Model Act (#520) to address issues arising in connection with the insolvency of long-term care insurers.

2018 Proposed Charges

The Receivership Model Law (E) Working Group will:

  1. Review and provide recommendations on any issues identified that may affect receivership model laws; — for example, any issues that arise as a result of market conditions, insurer insolvencies, federal rulemaking and studies, international resolution initiatives or as a result of the work performed by other NAIC committees, task forces and/or working groups.

  2. Monitor, and provide recommendations for possible enhancements to the U.S. receivership regime and states' receivership laws and practices based on, international supervisory and advisory developments regarding recovery, resolution, receivership and liquidation, including, but not limited to, the Financial Stability Board's (FSB) Key Attributes of Effective Resolution Regimes for Financial Institutions (KA) and Assessment Methodology (AM), the International Association of Insurance Supervisor's (IAIS) Insurance Core Principles (ICPs) and Common Framework for the Supervision of Internationally Active Insurance Groups (Com-Frame) (CF) materials (particularly ICPs 10 and ICP 12 and related CFComFrame). Complete by the 2018 Fall National Meeting.

  3. Continue to evaluate and consider the changing marketplace of long-term care insurance(LTCI) products and the potential impact on guaranty fundsreceivership laws and practices, including drafting amendments to the Life and Health Insurance Guaranty Association Model Act (#520) to address issues arising in connection with the insolvency of long-term care (LTC) insurers. Complete by the 2018 Spring National Meeting.

Receivership Model Law Working Group - Formation of Drafting Group

The Receivership Model Law (E) Working Group has requested approval to revise the Life and Health Insurance Guaranty Association Model Act (#520) to address issues related to long-term care insurer insolvencies. The request has been approved by the Receivership & Insolvency (E) Task Force and the Financial Condition (E) Committee, and will be considered by NAIC’s Executive (EX) Committee at the 2017 Summer National Meeting.

Contingent upon the approval of this request, an ad hoc drafting group will be formed to draft amendments to Model #520. The drafting group is open to both regulators and interested parties. If you wish to participate in the drafting group, please send an email to Jane Koenigsman at jkoenigsman@naic.org.