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 interfaces with the technical task forces.
2008 Charges
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.
2008 Charges are posted on the following individual websites:
- Analyst Team System Oversight Working Group
- Audit Software Working Group
- Blanks Working Group
- Capital Adequacy Task Force
- Disaster Reporting Working Group
- Emerging Accounting Issues Working Group
- Examination Oversight Task Force
- Financial Analysis Handbook Working Group
- Financial Analysis Research and Development Working Group
- Financial Examiners’ Handbook Technical Group
- Financial Examiners’ Qualification and Compensation Technical Group
- Hybrid RBC Working Group
- International Solvency Initiatives Working Group
- NAIC/AICPA Working Group
- National Treatment and Coordination Working Group
- Property and Casualty Reinsurance Study Group
- Receivership and Insolvency Task Force
- Reinsurance Task Force
- Risk Assessment Working Group
- Risk Retention Group Task Force
- Statutory Accounting Principles Working Group
- Valuation of Securities Task Force
The Financial Analysis Working Group operates in Executive Session. The 2008 Charges are listed below for this Working Group:
The Financial Analysis Working Group will:
- Analyze nationally significant insurers and groups that exhibit characteristics of trending toward or being financially troubled and determine if appropriate action is being taken.
- Interact with domiciliary regulators and lead states to assist and advise as to what may be the most appropriate regulatory strategies, methods, and action(s).
- Support, encourage, promote and coordinate multi-state efforts in addressing solvency problems.
- Review and make appropriate updates and enhancements to the NAIC Troubled Insurance Company Handbook.
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