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The Financial Examiners Handbook Technical Group will continually review the NAIC Financial Condition Examiners Handbook
and revise as appropriate. Upon completion, the revisions will be presented to Examination Oversight Task Force for
adoption.
2008 Charges
- Continually review the NAIC Financial Condition Examiners Handbook and revise as appropriate. Upon completion, the revisions will be presented to Examination Oversight Task Force for adoption.
- Annually review the Examination Procedures included within the NAIC Financial Condition Examiners Handbook for updates in response to revisions to the NAIC Accounting Practices and Procedures Manual.
- Continually review the Annual Financial Reporting Model Regulation and revise the NAIC Financial Condition Examiners Handbook as deemed appropriate.
Charges that Represent New Objectives and Goals, Representing New NAIC Programs
- In conjunction with the Risk Assessment Working Group, monitor the implementation of the revised risk-assessment process and consider including additional guidance and exhibits within the NAIC Financial Condition Examiners Handbook as needed to assist examiners in completing financial condition examinations.
- Review and consider the recommendations set forth in the GAO Report: Insurance Sector Preparedness pertaining to 1) the review of insurer’s business continuity capabilities, including the placement of business continuity within the examination guidelines and the minimum recovery time objectives for certain insurance services; and 2) the review of Insurer’s outsourcing of critical functions.
- Review current guidance in the NAIC Financial Condition Examiners Handbook regarding sampling for control and substantive testing procedures and recommend appropriate revisions.
- Review current guidance in the NAIC Financial Condition Examiners Handbook regarding the examination of reserve liabilities for life insurance companies and recommend appropriate revisions based on the finalized principles-based reserving standards.
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