Financial Condition (E) Committee

The Mission of the Financial Condition (E) Committee is to be the central forum and coordinator of solvency-related considerations of the NAIC relating to accounting practices and procedures, blanks, valuation of securities, the Insurance Regulatory Information System (IRIS), financial analysis and solvency, zone examinations and examiner training and issues concerning insurer insolvencies and insolvency guarantees. In addition, the Committee interacts with the technical task forces.

The Financial Condition (E) Committee will:

• Monitor all of the changes to the Annual Statement Blanks Instructions, Risk-Based Capital formulas, Financial Condition Examiners Handbook, Accounting Practices and Procedures Manual, Financial Analysis Handbooks, Purposes and Procedures Manual of the NAIC Securities Valuation Office, NAIC Model Laws, NAIC Accreditation Standards and other NAIC publications. This charge is ongoing.
• Assist the International Insurance Relations (G) Committee in identifying issues to present for discussion with the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the European Commission. This can occur at various times, including quarterly reports to the International Insurance Relations (G) Committee on the progress made on the charges from the Solvency Modernization Initiative.
• At critical junctures throughout the Solvency Modernization Initiative, the Committee should identify and prioritize related resource needs, both in terms of committee activity and necessary NAIC and state staff support and involvement.
• Develop a single comprehensive document that describes the US regulatory framework.

2009 Charges are posted on the following individual websites:

• AIG Managing Task Force
• Analyst Team System Oversight Working Group
• Blanks Working Group
• Capital Adequacy Task Force
• Capital and Surplus Relief Working Group
• Credit Default Swap Working Group
• Emerging Accounting Issues Working Group
• Examination Oversight Task Force
• Financial Analysis Handbook Working Group
• Financial Analysis Research and Development Working Group
• Financial Analysis Working Group
• Financial Examiners Coordination Working Group
• Financial Examiners’ Handbook Technical Group
• Financial Guaranty Insurance Guideline Working Group
• Investment of Insurers Model Act Revision Working Group
• IT Examination Working Group
• NAIC/AICPA Working Group
• National Treatment and Coordination Working Group
• Property and Casualty Reinsurance Study Group
• Rating Agency Working Group
• Receivership and Insolvency Task Force
• Reinsurance Task Force
• Restructuring Mechanisms for Troubled Companies Subgroup
• Risk Retention Group Task Force
• Statutory Accounting Principles Working Group
• Valuation of Securities Task Force