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Receivership Model Law (E) Working Group

 

2018 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.