NAIC Exposure Document Index

The following is a list of documents exposed by various work groups of the NAIC to the public. For additional information regarding these and other documents, their comment periods and pending actions — please visit the appropriate Committees & Activities page.

 

Executive (EX) Committee

There are no exposure drafts at this time.

Cybersecurity Task Force
Financial Stability Task Force
Government Relations Leadership Council
There are no exposure drafts at this time.
International Insurance Relations Leadership Group
There are no exposure drafts at this time.
Principle-Based Reserving Implementation Task Force
There are no exposure drafts at this time.
PBR Review Working Group
There are no exposure drafts at this time.
PBR Review Procedures Subgroup
There are no exposure drafts at this time.
Producer Licensing Task Force

There are no exposure drafts at this time.

Producer Licensing Working Group

During the 2016 Fall National Meeting the Producer Licensing (EX) Working Group received a presentation from Nationwide Insurance regarding Limited Line Pet Insurance. The presentation provides a proposal from Nationwide Insurance asking that the Working Group revise the Uniform Licensing Standards - #37 Standards for Non-Core Limited Lines to remove Pet Insurance as a limited line. An open comment period concerning this proposal was distributed with a deadline of January 20th. Comments received can be found listed below. The Working Group will discuss the comments and determine appropriate direction for this proposal.

Comments:

State Licensing Handbook

The Producer Licensing (EX) Working Group extended the biennial review of the handbook so Working Group members could review all 30 chapters for any additional revisions.

Please note: The Table of Contents and Appendix were pulled from the draft document as they are not confirmed until revisions have been adopted. In addition, any technical edits will not be shown in the draft document. All technical edits will be completed at the NAIC prior to publication.

Below is the adopted revisions to the Handbook adopted by the Producer Licensing (EX) Task Force. The revisions will be presented to the EX Committee at the 2016 Spring NAIC National Meeting.

Revisions:

During the 2015 Fall National Meeting the Uniform (EX) Subgroup presented the Producer Licensing (EX) Working Group with a draft of the CE Classroom Course Recommendations. The comment period has been opened until December 11, 2015. The Working Group will hold a conference call prior to the 2016 Summer NAIC National Meeting to discuss and potentially discuss.

Uniform Education (EX) Subgroup
There are no exposure drafts at this time.
Speed to Market Task Force
There are no exposure drafts at this time.
Operational Efficiencies Working Group
Information Systems Task Force
There are no exposure drafts at this time.
Technical Consulting Working Group
There are no exposure drafts at this time.

Life Insurance and Annuities (A) Committee

Life Actuarial Task Force
C-3 Phase II/AG 43 (E/A) Subgroup
There are no exposure drafts at this time.
IUL Illustration Subgroup
Longevity Risk (A/E) Subgroup
There are no exposure drafts at this time.
VM-22 (A) Subgroup
Life Insurance Illustration Issues Working Group
There are no exposure drafts at this time.
Preventing Abuses in Life Insurance and Annuities Working Group
There are no exposure drafts at this time.
The Model Law Review (A) Subgroup
There are no exposure drafts at this time.
Unclaimed Life Insurance Benefits Working Group
Unclaimed Benefits Model Drafting (A) Subgroup

Health Insurance and Managed Care (B) Committee

Consumer Information Subgroup

Comment Letters on Revising Current SBC:

Co-Op Solvency and Receivership (B) Subgroup
There are no exposure drafts at this time.
Health Actuarial Task Force
Cancer Claims Cost Table Subgroup
Health Care Reform Actuarial Working Group
There are no exposure drafts at this time.
Actuarial Value Subgroup
There are no exposure drafts at this time.
State Rate Review Subgroup
There are no exposure drafts at this time.
Individual Disability Valuation Table Implementation Subgroup
There are no exposure drafts at this time.
Joint Long-Term Care Guidance Manual Subgroup
There are no exposure drafts at this time.
Long-Term Care Actuarial Working Group
Long-Term Care Pricing Subgroup
There are no exposure drafts at this time.
Medical Loss Ratio Quality Improvement Activities Subgroup
There are no exposure drafts at this time.
Regulatory Framework Task Force
There are no exposure drafts at this time.
Accident and Sickness Insurance Minimum Standards (B) Subgroup
ERISA Working Group

ERISA Handbook Revisions
Comment Deadline 10-5-16

  1. 8-10-16 Discretionary Clause Section
  2. 8-10-16 Revisions on PEOs
  3. 8-10-16 Revisions to Case Law
  4. New Section on Association Coverage
  5. New Section on ACA

3-25-16 ERISA Handbook draft revision

Comments due 10-5-16

Model #22 (B) Subgroup
There are no exposure drafts at this time.
Senior Issues Task Force
Long Term Care Consumer Disclosure Subgroup
There are no exposure drafts at this time.
Long Term Care Innovation Subgroup
There are no exposure drafts at this time.
Medigap Subgroup
Health Care Reform Regulatory Alternatives Working Group
There are no exposure drafts at this time.

Property and Casualty (C) Committee

Advisory Organization Examination Oversight Working Group
There are no exposure drafts at this time.
Affordable Care Act Medical Professional Liability Working Group
Please send comments to Kris DeFrain by close of business on Thursday, May 19, 2016.
Auto Insurance Working Group
Catastrophe Insurance Working Group
There are no exposure drafts at this time.
Consumer Outreach and Assistance Post-Disaster Subgroup
Post-Catastrophe Regulatory Guidance (C) Subgroup
Casualty Actuarial and Statistical Task Force
There are no exposure drafts at this time.
Actuarial Opinion Working Group
There are no exposure drafts at this time.
Statistical Data Working Group
There are no exposure drafts at this time.
Climate Change and Global Warming Working Group
There are no exposure drafts at this time.
Crop Insurance Working Group
There are no exposure drafts at this time.
Earthquake Study Group
There are no exposure drafts at this time.
Risk Retention Working Group
There are no exposure drafts at this time.
Sharing Economy Working Group
There are no exposure drafts at this time.
Surplus Lines Task Force

There are no exposure drafts at this time.

Surplus Lines Working Group
There are no exposure drafts at this time.
Terrorism Insurance Implementation Working Group
There are no exposure drafts at this time.
Title Insurance Task Force

There are no exposure drafts at this time.

Title Insurance Financial Reporting Working Group
Title Consumer Shopping Tools (C) Working Group
  • See the attached exposure draft of the Title Consumer Tool. A revision was made to the draft subsequent to the Jan. 25 conference call to correct the link to settlement agreements by the Housing and Urban Development (HUD) as the prior link had expired. Please send comments to jgardner@naic.org no later than Tuesday, Feb. 14th.
Title Affiliated Business Process Review (C) Working Group

There are no exposure drafts at this time.

Transparency and Readability (C) Working Group
There are no exposure drafts at this time.
Travel Insurance (C) Working Group
There are no exposure drafts at this time.
Workers' Compensation Task Force
There are no exposure drafts at this time.
NAIC/IAIABC Joint Working Group

Market Regulation and Consumer Affairs (D) Committee

There are no exposure drafts at this time.
Antifraud Task Force

During the NAIC Attorneys Roundtable discussions in 2015, it was discovered that states/jurisdictions were not treating 1033 notifications uniformly. At the 2016 Fall NAIC National Meeting in Miami, Florida, the Antifraud (D) Task Force received a recommendation from the Producer Licensing (EX) Working Group concerning language found in the Guidelines for State Insurance Regulators to the Violent Crime Control and Law Enforcement Act of 1994 (Page 15, Section H, Subsection (3)).

The proposed recommendation is open for comment through March 3, 2017. Please submit comments or suggestions to Gwelker@naic.org

  • Suggested 1033 Notification Language PDF | DOC
Antifraud Training and Seminar (D) Working Group

Insurance Department Investigator Safey Guidelines
The Antifraud (D) Task Force developed an Insurance Department Investigator Safety Guidelines to be used by state department investigators and auditors. The safety guideline was adopted by the NAIC full membership during the 2013 Summer National Meeting.

Auto Insurance Working Group
This page is displayed twice on the Exposure Drafts page. Click here to go to the one under Committee C.
Big Data Working Group
There are no exposure drafts at this time.
Market Actions Working Group
There are no exposure drafts at this time.
Market Conduct Annual Statement Blanks Working Group

Draft Edits for the Life & Annuity MCAS Data Call and Definitions

Life MCAS Review Comments

Other - Data and Drafts

Health MCAS Comments

Market Regulation Certification Working Group
There are no exposure drafts at this time.
Market Information Systems Task Force
There are no exposure drafts at this time.
Market Analysis Procedures Working Group
Proposed MCAS Lines of Business
Market Conduct Examination Standards Working Group
Privacy Disclosures Working Group
There are no exposure drafts at this time.

Financial Condition (E) Committee

There are no exposure drafts at this time.
Financial Analysis Working Group
There are no exposure drafts at this time.
Group Capital Calculation Working Group
There are no exposure drafts at this time.
Group Solvency Issues Working Group

Form F Implementation Guide (Tracked Changes)
Form F Implementation Guide (Clean Copy)

Comments due to Bruce Jenson by COB Friday, March 24, 2017.

ORSA Implementation (E) Subgroup
There are no exposure drafts at this time.
Health Reform Solvency Impact Subgroup
There are no exposure drafts at this time.
Mortgage Guaranty Insurance Working Group
NAIC/AICPA Working Group
There are no exposure drafts at this time.
National Treatment and Coordination Working Group
There are no exposure drafts at this time.
Biographical Third-Party Review Subgroup
There are no exposure drafts at this time.
Company Licensing Transactions (E) Subgroup
There are no exposure drafts at this time.
Risk-Focused Surveillance Working Group
There are no exposure drafts at this time.
Variable Annuities Issues Working Group

There are no exposure drafts at this time.

Accounting Practices and Procedures Task Force
There are no exposure drafts at this time.
Blanks Working Group
Blanks (E) Working Group
Items Received for Comment

Last Updated December 15, 2016

Please address comment letters to Jacob Garn, Chair of the Blanks (E) Working Group, and direct to Mary Caswell and Calvin Ferguson.


Ref No. Description Comment Deadline

2016-29BWG

Add instructions for the life insurance policy locator contact to Jurat electronic only section. Property and Title are included because the Jurat page and instructions are uniform for all statement types.

Some companies' life insurance policy locator (LIPL) contact may be different than the policyowner relations contact. The LIPL contact is intended to be the reporting entity representative able to address issues related to lost or forgotten life insurance and annuity policies.

March 8, 2017

2016-30BWG

Modify instructions for Form 5 to indicate that a Grand Total page should be filed.  Add crosschecks to Columns 1, 2 and 3 to Form 2, Part C and Form 3.

The purpose of this proposal is to clarify that a Grand Total page should be completed for Long-Term Care Insurance Experience Reporting Form 5 and to provide crosschecks for Columns 1, 2 and 3.

March 8, 2017

2016-31BWG

Reduce the number of collateral type categories from 21 to 10 on the Schedule D, Part 1 and to also add more explanations and examples to the categories.

The purpose of this proposal is to combine several existing collateral type categories into groups of common collateral types with similar underlying risks. Also, to provide more clarification in the Annual Statement Instructions on what each category should be used for with more detailed instructions and examples of the types of collateral. The existing categories did not provide a detailed explanation of the collateral type categories and the category of “Other” was used frequently. The added explanations will provide additional guidance on what category to choose instead of choosing the category of “Other” as often.

March 8, 2017

2016-32BWG

Split the blank into three parts (interrogatories, stand-alone policies and packaged policies). Add interrogatory questions to better indicate if a company writes certain types of cybersecurity and identity theft business. Clarify in the instructions who should be completing the supplement. Add information on claims open, closed with payment and closed without payment.

The purpose of this proposal is to reorganize the Cybersecurity and Identify Theft Insurance Coverage Supplement to enable the use of less complex tables for capturing the data to enable easier querying of the data. Adds clarification as to who should complete the supplement and provides regulators with additional claims data on claims open, closed with payment and closed without payment.

March 8, 2017

2016-33BWG

Modify the appropriate instructions and blank pages to reflect the movement of money market mutual funds from being reported on Schedule DA, Part 1 to being reported on Schedule E, Part 2.

The purpose of this proposal is to change the instructions to reflect the changes adopted by the Statutory Accounting Principles (E) Working Group to SSAP No. 2—Cash, Drafts and Short-Term Investments to move money market mutual funds from short-term investments to cash equivalents.

March 8, 2017

2016-34BWG

Modify the illustration for Note 12A(3) - Retirement Plans, Deferred Compensation, Postemployment Benefits and

Compensated Absences and Other Postretirement Benefit Plans (Defined Benefit Plan).

This item proposes illustration revisions, clarifying the reporting of Pension and OPEB financial statement components. With the prior format, it appeared that companies would only have situations in which the plan was overfunded with a prepaid benefit cost, or a situation in which a plan would be underfunded with an accrued benefit cost. As there can be situations in which plans are overfunded with an accrued benefit cost or underfunded with a prepaid benefit cost, revisions have been proposed to simply identify the different components, with separate recognition of the actual assets (nonadmitted) and liabilities recognized in the financial statements and any remaining unrecognized liability from the transition guidance. The revisions to the illustration do not require any SSAP or note instruction revisions.

March 8, 2017

2016-35BWG

Combines the current Schedule F, Parts 3, 4, 5, 6, 7 and 8 into a single new Schedule F-Part 3-Ceded Reinsurance, modify the crosscheck references for Lines 13 and 16 of the Liability Page to reflect the changes to Schedule F and make changes to Schedule F Part 1 to eliminate the under $100,000 aggregation for consistency with the changes to Schedule F, Part 3. In addition changes for consistency are being made to the Schedule F, Part 3 Supplement for property, Schedule F instruction and blank for the Health Property Supplement, and Schedule F, Parts 1 and 2 of the Life Workers’ Compensation Carve-out Supplement as these schedules are based on similar schedules in Schedule F of the property statement.

The changes implement the new Reinsurance Credit Risk RBC charge methodology that was adopted by the Capital Adequacy (E) Task Force. It consolidates the previous Parts 3 through Part 8 of Schedule F into a single new Part 3, which eliminates duplication, promotes consistency of the reported ceded transactions, provides for greater automation, and reduces filing errors. This proposal was submitted to the Blanks (E) Working Group by the Reinsurance (E) Task Force and Property and Casualty Risk-Based Capital (E) Working Group.

March 8, 2017

Investment Reporting Subgroup

There are no exposure drafts at this time.

Statutory Accounting Principles Working Group

Exposure Drafts Outstanding
Statutory Accounting Principles Working Group
Last Updated Feb 24, 2017

Please address comment letters to Dale Bruggeman, Chair of the Statutory Accounting Principles (E) Working Group, and direct to Julie Gann, Robin Marcotte, and Fatima Sediqzad.

SUBSTANTIVE AND NONSUBSTANTIVE EXPOSURES

Ref No. Issue Paper/ SSAP No./ Appendix Title Description
EXPOSURES With COMMENT DEADLINE OF MARCH 17, 2017

2015-37

 

 

SSAP No. 55

SSAP No. 65

 

 

ASU 2015-09, Financial Services - Insurance - Disclosures about Short-Duration Contracts

 

Revisions, recommended by interested parties, incorporate additional disclosures from ASU 2015-09 that are not currently captured for statutory. 

The proposed revisions also reject ASU 2015-09 for statutory accounting, with indication that reporting entities shall follow the established statutory accounting disclosures.  

EXPOSURES With COMMENT DEADLINE OF MARCH 10, 2017

2013-36

Issue Paper

SSAP No. 26R

Investment Classification Project

BlackRock's Systematic Valuation Methodology
[PDF] | [EXCEL]

Updated 9/6/2016

BlackRock’s Responses
related to “Questions Raised on BlackRock’s Calculated Valuation Proposal”

Exposed Issue Paper and draft substantively revised SSAP No. 26—Bonds.

Revisions to the issue paper and the proposed SSAP guidance reflects discussion and direction from the Jan. 24, 2017 SAPWG conference call.

Discussion of the systematic value approach is anticipated for the March 15, 2017 conference call.

EXPOSURES With COMMENT DEADLINE OF FEB. 24, 2017
2016-03

Issue Paper


Illustrations
Special Accounting Treatment for Limited Derivatives Current exposure requests additional information from industry. (Previously exposed Issue Paper and Illustrations included for reference.)

Project Overview - Substantive revisions, for inclusion in a new SSAP, proposing special accounting treatment for certain limited derivatives related to variable annuity products.
2016-13 Appendix F Policy Statement on Coordination with P&P Manual, SVO and VOSTF Revisions to Appendix F to add a policy statement detailing the SAPWG coordination with the VOSTF and SVO.
2016-48 86 Impact of Future Settled Premiums on Option Valuations Revisions to clarify the accounting and reporting of derivative contracts with deferred or financing premiums.
2017-01 35 Discounting of Long-Term Care Guaranty Fund Assessments Revisions to require discounting of long-term care guaranty fund assessments and related liabilities.
Discussion anticipated on the March 15, 2017 conference call.
SAPWG Response

IRBC Referral
N/A Referral response to Investment Risk Based Capital Exposure of draft SAPWG response to the IRBC request to review the bond characteristic proposal.
EXPOSURES With COMMENT DEADLINE OF FEB. 10, 2017
2010-08 Appendix F Policy Statement on Coordination with Valuation Manual Proposes a new policy statement on coordination with the Valuation Manual, which is consistent with the policy statement in the Valuation Manual.
2016-39 SSAP No. 37 Mortgage Loans with Multiple Lenders Clarifies that a reporting entity providing a mortgage loan as a "participant in a mortgage loan agreement" shall consider the mortgage loan in scope of SSAP No. 37.
2016-40 SSAP No. 43R Definition of LBSS Proposed revisions, in accordance with a VOSTF referral, incorporate a revised definition for SSAP No. 43R securities. Comments are specifically requested on the securities that will be included / excluded from the scope of SSAP No. 43R as a result of this definition change.

Additionally, the exposure proposes revisions to SSAP No. 43R to remove old implementation guidance.
2016-41 SSAP No. 26 AVR and IMR in SSAP No. 26 Requested regulators and industry to provide information on current practices for allocating gains and losses between AVR and IMR, as well as information on the recognition of OTTI if the security is sold in the same reporting period in which the OTTI is first identified.
2016-42 Appendix C Appendix C Introduction Updates the introduction of Appendix C in the Accounting Practices and Procedures Manual to promote consistent application of the actuarial guidelines.
2016-43 INT 01-25 Inflation Indexed Securities Clarifies that the guidance in INT 01-25 is limited to direct obligations of the U.S. government.

Also requested information on the volume of foreign inflation-indexed securities held by U.S. insurance reporting entities and whether specific guidance should be developed for these securities.
2016-44 Appendix A-791 Revisions to Appendix A-791 Incorporates additional language from the Life and Health Reinsurance Agreements Model Regulation (#791) to note that the reinsurance agreement shall constitute the entire agreement and that amendments need to be signed by all parties to be effective.
2016-45 SSAP No. 101 ASU 2016-16 Intra-Entity Transfers of Assets Other than Inventory Adopts with modification ASU 2016-16 and requires reporting entities to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs.
2016-46 SSAP No. 69 ASU 2016-15 – Classification of Certain Cash Receipts and Cash Payments Adopts ASU 2016-15 to improve consistency in reporting, as well as minimize differences between SAP and U.S. GAAP on cash flow classifications.
2016-47 SSAP No. 30,
SSAP No. 48,
SSAP No. 97
ASU 2016-07 – Simplifying the Transition to the Equity Method of Accounting Adopts with modification ASU 2016-07 and provides guidance when an investment qualifies (or no longer qualifies) for the equity method of accounting.

 

Restricted Asset Subgroup

Disclosure Templates for Repurchase and Reverse Repurchase Agreements – Comment Deadline April 29, 2016

Note – Proposed disclosure templates are included in the "secured borrowing" and "sale accounting" documents. The “SSAP No. 103” document includes proposed revisions to SSAP No. 103 to reflect the disclosures that will be captured templates, as well as to aggregate the repurchase disclosures in the SSAP. Comments are also specifically requested on the expansion of Schedule DL to include collateral from repurchase / reverse repurchase agreements.

Comments shall be addressed to Tomoko Stock, Chair of the Restricted Asset (E) Subgroup, and sent electronically to Julie Gann (NAIC staff).

Capital Adequacy Task Force

Medicare Part D (2016-16)
Academy Report for Medicare Part D Factors
Stop Loss (2016-17)
Academy Stop Loss Factor Report

Comments due to Jane Barr by COB, Monday, March 27, 2017.

Catastrophe Risk Subgroup
There are no exposure drafts at this time.
Health Risk-Based Capital Working Group
There are no exposure drafts at this time.
Investment Risk-Based Capital Working Group
There are no exposure drafts at this time.
Life Risk-Based Capital Working Group

Exposure of Primary Security Shortfall Proposal
Comments on the above exposure are due by COB Tuesday, March 14, 2017 and should be directed to Dave Fleming.

Exposure of FHLB collateral proposal
Comments on the above exposure are due by COB Tuesday, March 14, 2017 and should be directed to Dave Fleming.

Exposure of Life RBC Ratio Proposal
Comments on the above exposure are due by COB Monday, February 27, 2017 and should be directed to Dave Fleming.

Exposure Drafts Still Open For Consideration with Comment Received:

Comment Letters Received:

Comment Letters Received:

Please send any comments on the exposure drafts to Dave Fleming
C-3 Phase II/AG 43 (E/A) Subgroup
There are no exposure drafts at this time.
Longevity Risk (A/E) Subgroup
The exposure drafts for this page are also listed here.
Stress Testing (E) Subgroup
There are no exposure drafts at this time.
Operational Risk (E) Subgroup
There are no exposure drafts at this time.
Property and Casualty Risk-Based Capital Working Group
  • Exposing the American Academy of Actuaries (Academy) Underwriting Risk Line 4 Factors Report for a 60-day comment period. Please submit comments to Eva Yeung by COB, Wednesday, Feb. 8, 2017.
Examination Oversight Task Force
There are no exposure drafts at this time.
Analyst Team System Oversight Working Group
There are no exposure drafts at this time.
Electronic Workpaper Working Group
There are no exposure drafts at this time.
Financial Analysis Handbook Working Group
Financial Analysis Research and Development Working Group
There are no exposure drafts at this time.
Financial Examiners Coordination Working Group

There are no exposure drafts at this time.

Financial Examiners Handbook Technical Group
There are no exposure drafts at this time.
IT Examination Working Group

There are no exposure drafts at this time.

Receivership and Insolvency Task Force
There are no exposure drafts at this time.
Receivership Model Law (E) Working Group
There are no exposure drafts at this time.
Receivership Financial Analysis Working Group
There are no exposure drafts at this time.
Receivership Technology and Administration Working Group
There are no exposure drafts at this time.
Reinsurance Task Force

Survey on Effect of QJ Implementation of Solvency II
Exposure by Qualified Jurisdiction (E) Working Group. Submit survey responses to Matthew Todd and Dan Schelp by Wednesday, December 31, 2016. [Note: the previous survey response deadline of Wednesday, November 23, 2016, has been extended.]

Comments on the below exposures are due by the close of business Friday, January 13, 2017, and should be directed to Dan Schelp or Matt Todd

  • Qualified Jurisdiction (E) Working Group report regarding European Union member state implementation of Solvency II and the potential impact on the qualified jurisdiction status of France, Germany, Ireland and the United Kingdom.

  • Reinsurance Financial Analysis (E) Working Group referral regarding reinsurance collateral ratings on a legal entity and group basis. The issue is whether the Reinsurance Financial Analysis (E) Working Group may consider the group rating issued to a certified reinsurer for purposes of assigning a reinsurance collateral rating to a certified reinsurer for purposes of passporting, and under what circumstances may such a group rating be utilized.
Reinsurance Financial Analysis (E) Working Group

There are no exposure drafts at this time.

Qualified Jurisdiction (E) Working Group

Survey on Effect of QJ Implementation of Solvency II
Exposure by Qualified Jurisdiction (E) Working Group. Submit survey responses to Matthew Todd and Dan Schelp by Wednesday, December 31, 2016. [Note: the previous survey response deadline of Wednesday, November 23, 2016, has been extended.]

Comments on the below exposure are due by the close of business Friday, January 13, 2017, and should be directed to Dan Schelp or Matt Todd.

Risk Retention Group Task Force

There are no exposure drafts at this time.

Valuation of Securities Task Force
  • P&P Manual with REAWG Recommendations[PDF | WORD]

Please send comment letters to Charles Therriault, Robert Carcano, and Marly Kurtzer by April 8, 2017.


  • P&P Manual Amendment to Remove the 5* (Five Star) Certification Process [PDF | WORD]

Please send comment letters to Charles Therriault, Robert Carcano, and Marly Kurtzer by April 23, 2017.

Financial Regulation Standards and Accreditation (F) Committee

60-Day Exposure

At the 2016 Fall National Meeting, the Financial Regulation Standards and Accreditation (F) Committee voted to expose a proposed update to Part A: Liabilities and Reserves Accreditation Standard for PBR. Comment letters should be emailed to Becky Meyer prior to Wednesday, Feb. 8, 2017.

The attached memo details the proposed significant elements related to PBR for accreditation. This includes a recommendation that the proposed significant elements would specifically require the states to apply the Valuation Manual to fraternal benefit societies, which are currently excluded from the Part A Standards. Regulation of fraternal benefit societies is typically included as a separate chapter in a state’s insurance code, and the manner in which reserving requirements are adopted for fraternals may vary from state to state. As such, we encourage states to review their fraternal code relating to the adoption of reserving requirements and contact NAIC staff or provide a comment letter to share any questions or concerns.

At the 2015 Spring National Meeting, the Financial Regulation Standards and Accreditation (F) Committee voted to expose the following items. Comment letters should be emailed to Becky Meyer prior to the due dates provided below.

One Year Exposure

The following items are being exposed for a public comment period of one year. Comment letters should be forwarded to Becky Meyer via email by December 31, 2016. Comments will be discussed at the 2017 Spring National Meeting and will be voted on at the 2017 Summer National Meeting.

Corporate Governance Annual Disclosure Model Act (#305) and Model Regulation (#306) - It is being recommended that these models be added as a new Part A: Laws and Regulations Accreditation Standard. Attached is the referral memo that includes suggested significant elements and copies of the models.

2014 revisions to the Annual Financial Reporting Model Regulation (#205) – The 2014 revisions relate to new requirements for an internal audit function. It is being recommended that these revisions be included as a new significant element in the CPA Audits standard.

2014 revisions to the Insurance Holding Company System Regulator Act (#440) – The 2014 revisions relate to new requirements for internationally active insurance groups (IAIGs). It is being recommended that the related revisions be included as new significant elements for those states that are the group-wide supervisor of an IAIG or any state that has a domestic company in a U.S. group that is an IAIG in which the group-wide supervisor is a U.S. state.

International Insurance Relations (G) Committee

ComFrame Development and Analysis Working Group
There are no exposure drafts at this time.
International Regulatory Cooperation Working Group
There are no exposure drafts at this time.

NAIC/Consumer Liaison Committee

There are no exposure drafts at this time.
NAIC/American Indian and Alaska Native Liaison Committee
There are no exposure drafts at this time.

NAIC/Industry Liaison Committee

There are no exposure drafts at this time.

NAIC/State Government Liaison Committee

There are no exposure drafts at this time.

SERFF Board

There are no exposure drafts at this time.