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.

2013 Charges

• Provide a forum for the consideration of reinsurance-related issues of public policy.—Essential

• Finalize and implement an NAIC process to evaluate the reinsurance supervisory systems of  non-U.S. jurisdictions, for the purposes of developing and maintaining a list that includes any such jurisdiction that is recommended by the NAIC for recognition by the states as a qualified jurisdiction in accordance with the revised Credit for Reinsurance Model Law (#785) (Model #785) and Credit for Reinsurance Model Regulation (#786) (Model #786), under which an assuming insurer licensed and domiciled in a qualified jurisdiction is eligible to be considered for certification by a state as a certified reinsurer.—Essential

• Oversee the activities of the Reinsurance Financial Analysis (E) Working Group.––Essential

• Monitor the implementation of the revised Model #785 and #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 any other issues related to the revised Model #785 and Model #786.––Important

• Study issues regarding regulatory support for the collection of undisputed reinsurance recoverable balances held by insurers in receivership. Consider any appropriate NAIC action, which might include NAIC model law or guideline development or revision.––Important

• Monitor the activities of the Property and Casualty Reinsurance (E) Study Group for matters that should be considered by the Task Force.—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 Nonadmitted and Reinsurance Reform Act and the Federal Insurance Office Act, and coordinate any appropriate NAIC action.––Important