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

Conference Call
Wednesday, November 15th
2:00pm ET/1:00pm CT for 1 hour

There are no exposure drafts at this time

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Receivership and Insolvency (E) Task Force

 

The mission of the Receivership and Insolvency (E) Task Force shall be administrative and substantive as they relate to issues concerning insurer insolvencies and insolvency guarantees. Such duties include, without limitation, monitoring the effectiveness and performance of state administration of receiverships and the state guaranty fund system; coordinating cooperation and communication among regulators, receivers and guaranty funds; monitoring ongoing receiverships and reporting on such receiverships to NAIC members; developing and providing educational and training programs in the area of insurer insolvencies and insolvency guarantees to regulators, professionals and consumers; developing and monitoring relevant model laws, guidelines and products; and providing resources for regulators and professionals to promote efficient operations of receiverships and guaranty funds.

2017 Charges

  1. Monitor and promote efficient operations of receiverships and guaranty funds.

  2. Monitor and promote state adoption of receivership related model acts and regulations.

  3. Provide input and comments to the International Association of Insurance Supervisors (IAIS) or other related groups on issues regarding international resolution authority.

  4. Monitor, review and provide input on federal rulemaking and studies related to insurance receivership.

  5. Monitor the work of other NAIC committees, task forces and working groups to identify and address any issues that impact receivership law or regulatory guidance.

  6. Perform additional work as directed by the Financial Condition (E) Committee and/or received through referral by other groups.

  7. Monitor Federal Home Loan Bank (FHLB) legislation pending in and enacted by the states, and the impact on insurance companies in those states.

2018 Proposed Charges

The mission of the Receivership and Insolvency (E) Task Force shall be administrative and substantive as it relates to issues concerning insurer insolvencies and insolvency guarantees. Such duties include, without limitation, monitoring the effectiveness and performance of state administration of receiverships and the state guaranty fund system; coordinating cooperation and communication among regulators, receivers and guaranty funds; monitoring ongoing receiverships and reporting on such receiverships to NAIC members; developing and providing educational and training programs in the area of insurer insolvencies and insolvency guarantees to regulators, professionals and consumers; developing and monitoring relevant model laws, guidelines and products; and providing resources for regulators and professionals to promote efficient operations of receiverships and guaranty funds.

Ongoing Support of NAIC Programs, Products or Services

The Receivership and Insolvency (E) Task Force will:

  1. Monitor and promote efficient operations of receiverships and guaranty funds.

  2. Monitor and promote state adoption of receivership related model acts and regulations.

  3. Provide input and comments to the International Association of Insurance Supervisors (IAIS) or other related groups on issues regarding international resolution authority.

  4. Monitor, review and provide input on federal rulemaking and studies related to insurance receivership.

  5. Provide ongoing maintenance and enhancements to the Receiver's Handbook for Insurance Company Insolvencies and the Global Receivership Information Database (GRID).

  6. Monitor the work of other NAIC committees, task forces and working groups to identify and address any issues that affect receivership law and/or regulatory guidance.

  7. Perform additional work as directed by the Financial Condition (E) Committee and/or received through referral by other groups.

  8. Monitor Federal Home Loan Bank (FHLB) legislation pending in and enacted by the states, and the impact on insurance companies in those states.

The Receivership Large Deductible Workers Compensation (E) Working Group will:

  1. Study states' receivership laws and practices regarding receivership of insurers with significant books of large deductible workers' compensation business, and evaluate the need for a model act/rule, or amendments to existing models, that governs the rights and duties of the various parties regarding large deductible business in insolvencies, including, but not limited to, consideration of a provision that expressly permits the collection of large deductibles from insureds during an insolvency proceeding. Provide any other recommendations for possible enhancements to the U.S. receivership regime based on this study. Complete by the 2018 Fall National Meeting.

The following groups report to the Receivership and Insolvency Task Force: