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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:

  1. Analyze nationally significant insurers and groups that exhibit characteristics of trending toward or being financially troubled and determine if appropriate action is being taken.
  2. 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).
  3. Support, encourage, promote and coordinate multi-state efforts in addressing solvency problems.
  4. Review and make appropriate updates and enhancements to the NAIC Troubled Insurance Company Handbook.

 

Finite Reinsurance

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Exoisyre Drafts
There are no exposed documents at this time.
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Regulators may access meeting minutes through MyNAIC.org. Non-Regulators may purchase meeting minutes through NAIC Store.
5-23-08 Conference Call Materials
Regulators may access meeting minutes through MyNAIC.org. Non-Regulators may purchase meeting minutes through NAIC Store.

On May 18, 2006, the Financial Condition (E) Committee voted to adopt certain revisions to the Model Regulation Requiring Annual Audited Financial Reports. These revisions include new requirements related to auditor independence, corporate governance and internal control over financial reporting. The Executive Committee/Plenary adopted these amendments to the model during its meeting on June 11, 2006.

Draft Model Regulation

Accounting Practices and Procedures Task Force
Blanks Working Group
Investment Schedules Subgroup
Schedule T Subgroup
Emerging Accounting Issues Working Group

Property and Casualty Reinsurance Study Group

Statutory Accounting Principles Working Group
Capital Adequacy Task Force
Life Risk-Based Capital Working Group
Property Risk-Based Capital Working Group
Health Risk-Based Capital Working Group
Disaster Reporting Working Group
Examination Oversight Task Force
Analyst Team System Oversight
Working Group
Audit Software Working Group

Audit Software Subgroup

Financial Analysis Handbook Working Group
Financial Analysis Research and Development Working Group
Financial Examiners Handbook
Technical Group
Financial Examiners' Qualification and Compensation Technical Group
Financial Analysis Working Group
Hybrid Risk-Based Capital Working Group
International Solvency and Accounting Working Group
NAIC/AICPA Working Group
National Treatment and Coordination Working Group
Issues Subgroup
Receivership and Insolvency Task Force
Receivership Model Act Revisions
Working Group
Receivership Technology and Administration Working Group
Receiver's Handbook Working Group
Reinsurance Task Force
Restructuring Mechanisms for Troubled Companies Subgroup
Risk Assessment Working Group
Risk Assessment Implementation Subgroup
Risk Retention Group Task Force
Valuation of Securities Task Force
Derivatives Working Group

Invested Asset Working Group

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Todd Sells
Director, Financial Regulatory Services Division
Phone: 816.783.8403
Fax: 816.460.7614
Please see the current Committee List for a complete list of committee members.