Committees & Activities

Reinsurance Task Force
Financial Condition (E) Committee

The mission of the Reinsurance (E) Task Force is to monitor and coordinate activities and areas of interest, which overlap to some extent the charges of other working groups, specifically the International Insurance Relations (G) Committee.

2015 Charges

The Reinsurance (E) Task Force will:

  • Provide a forum for the consideration of reinsurance-related issues of public policy.—Essential
  • Oversee the activities of the Reinsurance Financial Analysis (E) Working Group.—Essential
  • Oversee the activities of the Qualified Jurisdiction (E) Working Group.—Essential
  • Monitor the implementation of the revised Credit for Reinsurance Model Law (#785) and the Credit for Reinsurance Model Regulation (#786) by NAIC-member jurisdictions.—Essential
  • Communicate and coordinate with the Federal Insurance Office and other federal authorities on matters pertaining to reinsurance.—Essential
  • Consider recommendations referred to the Task Force with respect to the Captives and Special Purpose Vehicles (SPV) white paper.—Essential
  • Consider the referral from the Valuation of Securities (E) Task Force regarding the planned modification of credit rating standards in the NAIC Bank List and advice about the definition of “qualified U.S. financial institution” and other issues.—Essential
  • Consider any other issues related to the revised Model #785 and Model #786.—Important
  • Monitor the development of international principles, standards and guidance with respect to reinsurance. This includes, but is not limited to, monitoring the activities of various groups within the International Association of Insurance Supervisors (IAIS), including the Reinsurance and Other Forms of Risk Transfer Subcommittee, Reinsurance Mutual Recognition Subgroup and Reinsurance Transparency Group.—Important
  • Consider the impact of reinsurance-related federal legislation, including, but not limited to, the federal Nonadmitted and Reinsurance Reform Act and the Federal Insurance Office Act, and coordinate any appropriate NAIC action.—Important
  • Consider referrals wit h respect to the XXX/AXXX Reinsurance Framework.—Essential

The following Working Groups report to the Reinsurance Task Force:

Exposure Drafts Outstanding
Reinsurance (E) Task Force

Please address comment letters to the Honorable John M. Huff, Chair of the Reinsurance (E) Task Force, and direct to jarpin@naic.org and dschelp@naic.org.

EXPOSURES WITH COMMENT DEADLINE OF Sept 15, 2015

Title

Description

Revisions to the Uniform Application Checklist for Certified Reinsurers

Exposed revisions address an industry proposal on the disputed and overdue reinsurance section of the checklist and propose adjustments to the data filing parameters an applicant for certified reinsurer status would need to follow on the disclosure of disputed and/or overdue reinsurance.

Certified Reinsurers and Passporting Public Document

Exposed memorandum details the Reinsurance Financial Analysis (E) Working Group’s involvement in passporting of certified reinsurers, which certified reinsurers have been recommended for passporting and the process for how a reinsurer becomes certified and if desired, passported.

EXPOSURES WITH COMMENT DEADLINE OF Sept 30, 2015

Title

Description

XXX/AXXX Credit for Reinsurance Model Regulation Draft

Exposed Draft Model Regulation establishes requirements regarding the reinsurance of XXX/AXXX policies.

Drafting of the XXX/AXXX Credit for Reinsurance Model Regulation: Key Discussion Topics Memorandum

Exposed memorandum details key discussion topics and actions taken by the Drafting Group during the drafting of the proposed XXX/AXXX Model Regulation.

Revisions to the Credit for Reinsurance Model Law (#785) – Option 1

Exposed revisions to Model #785 provide specific authority to the commissioner to adopt regulations addressing XXX/AXXX reinsurance transactions.

Revisions to the Credit for Reinsurance Model Law (#785) – Option 2

Exposed revisions to Model #785 provide the specific authority to the commissioner to adopt regulations with respect to variable annuities, long term care and XXX/AXXX captive reinsurance transactions.

Go to the exposure draft index.
Exposures with Comment Deadline of 9/15/2015 Exposures with Comment Deadline of 9/30/2015 Please address comment letters to the Honorable John M. Huff, Chair of the Reinsurance (E) Task Force, and direct to jarpin@naic.org and dschelp@naic.org.

NAIC List of Qualified Jurisdictions (1.1.15)

Summary of Findings and Determination Reports:

Conference Call Calendar

NAIC conference calls & interim meetings are available on the NAIC Conference Call Calendar. See NAIC's revised policy statement on open meetings.

There are no advance materials at this time.

education & training events

There are no education or training events at this time.

documents and resources

Draft of Uniform Application Checklist for Certified Reinsurers approved by Financial Condition (E) Committee 12/12/14.

July 10, 2014 Research Memorandum from staff of the NAIC Investment Analysis Office regarding interpretation of the phrase “Securities Listed by the Securities Valuation Office”

Reinsurance Collateral Amount Survey

Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions as adopted by NAIC August 17, 2014

Instructions for Form CR-F and CR-S, as adopted by the Reinsurance Task Force August 13, 2012.

On November 6, 2011, the NAIC Executive (EX) Committee and Plenary adopted the revised Credit for Reinsurance Models, with additional amendments adopted during the meeting.

Reinsurance Regulatory Modernization Framework Proposal Memorandum - The Sep. 12, 2008 proposal was adopted by the NAIC during the Winter 2008 National Meeting.
Finite Reinsurance
Related NAIC Publications
Captives and Special Purpose Vehicles White Paper

Model Laws, Regulations and Guidelines

US Reinsurance Collateral White Paper

Contacts
Media queries should be directed to the NAIC Communications Division at 816-783-8909 or news@naic.org.

Dan Schelp
Managing Attorney
Phone: 816.783.8027

Josh Arpin
Statutory Accounting and Reinsurance Policy Advisor
Phone: 816.783.8481
Please see the current Committee List for a complete list of committee members.