Tentative INT

Incorporate INTs into SSAPs "2000 Series"

Exposed proposed revisions to SSAPs from review of INTs (2000 series).  This item identifies the INTs proposed to be nullified, with guidance included in a SSAP, as well as those INTs proposed to be retained within Appendix B of the NAIC AP&P Manual.

Ref No.

Title

Description

COMMENTS ON THE FOLLOWING ARE DUE JANUARY 6, 2012:

2009-14

New SSAP

FAS 166, Accounting for Transfers of Financial Assets, an Amendment of FAS 140.

Exposed new SSAP proposed to adopt, with modification, FAS 166 and supersede SSAP No. 91R.

(Note: Proposed revisions to INTs and SSAPs as a result from adopting this new SSAP are included in appendices to the new SSAP. These are not planned to be included in the final adopted SSAP, but incorporated into Issue Paper No. 141 for historical reference.)

Deadline: Jan. 6, 2012

2011-19

SSAP No. 27

SSAP No. 86

ASU 2010-11: Derivatives and Hedging – Scope Exception Related to Embedded Credit Derivatives

Exposed nonsubstantive revisions to provide guidance for embedded credit derivatives that expose the holder to the possibility of making future payments. Also exposed revisions to ensure that embedded derivatives are included in the disclosures of financial instruments with off-balance sheet risk.

Deadline: Jan. 6, 2012.

2011-22

Issue Paper No. 99

ASU 2010-20: Receivables, Disclosures About the Credit Quality of Financing Receivables and the Allowance of Credit Losses

ASU 2011-01: Deferral of the Effective Date of Disclosures about Troubled Debt Restructurings in ASU 2010-20.

Exposed nonsubstantive revisions to reject ASU 2011-20 as not applicable to statutory accounting. 

(See #2011-25 for financing receivable disclosures for troubled debt restructurings deferred in ASU 2011-01.)

Deadline: Jan. 6, 2012

2011-25

SSAP No. 36

ASU 2011-02: Receivables, A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring

Exposed nonsubstantive revisions to adopt ASU 2011-02. Revisions also propose rejection of the troubled debt restructuring disclosures from ASU 2010-20 (deferred in ASU 2011-01) but proposes additional disclosures that pertain to all troubled debt restructurings.

Deadline: Jan. 6, 2012

2011-38

SSAP No. 35R

ASU 2011-06: Fees Paid by the Federal Government by Health Insurers

Exposed nonsubstantive revisions to reject ASU 2011-06 and to prescribe statutory accounting provisions for the annual fee mandated by the PPACA addressed by ASU 2011-06.

Deadline: Jan. 6, 2012.

2011-45

SSAP No. 62R

Impact of Loss Portfolio Transfer on Provision of Reinsurance

Exposed revisions proposed by the Sponsor, amended to include reference to SSAP No. 5R.
The Working Group exposed this item noting that they are not taking a position on this proposal, but to receive additional information.
Deadline: Jan. 6, 2012

American Council of Life Insurers (ACLI) C-3 Phase 3 scope proposal modified by the Life Risk Based Capital (E) Working Group and released for comment at the Jan. 13, 2010, conference call of the Working Group. Comments should be received by the close of business Tuesday, Feb. 16, 2010.

• Modified C-3 Phase 3 Scope Proposal

• Derivitives Risk Mitigation Proposal

American Academy of Actuaries (AAA) C-3 instructions released for comment at the Dec. 4, 2009, meeting of the Life Risk Based Capital (E) Working Group. The Working Group extended the comment period for the C-3 Phase 2 portion of the instructions at the Jan. 13, 2010, conference call of the Working Group.

C-3 Phase 3 Comments should be received by the close of business Tuesday, Jan. 19, 2010.

C-3 Phase 2 Comments should be received by the close of business Tuesday, April 13, 2010.

• AAA Draft C-3 Instructions and Appendices

American Academy of Actuaries (AAA) C-3 Phase 3 proposal released for comment at the Sept. 21, 2009, meeting of the Life Risk Based Capital (E) Working Group. Comments should be received by the close of business Friday, Oct. 23, 2009.

• AAA September 2009 Report on RBC C3 Requirements for Life Products