Blanks (E) Working Group
March 29, 2008
The Blanks Working Group met on Saturday, March 29, 2008. During this meeting, the Blanks Working Group discussed various proposals and took the following action on those proposals:
Action Items:
- A dopted the following blanks proposals which were previously exposed for comment.
- 2007-48BWG - Add “other related parties” to the Notes to Financial Statement # 10 title description.
- 2007-49BWG - Add new Long Term Care Experience reporting forms and instructions. Eliminate current forms and instructions.
- 2007-50BWG - Modify the instructions for Schedule D, Part 2, Section 2, Column 11 to be consistent with the Schedule D, Part 1, 4 and 5 changes which resulted from the 2007-03BWG adoption. Modify Schedule D, Part 4 and 5 to be consistent with the changes to Schedule D, Part 2, Section 2, Column 11.
- 2007-52BWG - Add instructions for the new disclosure adopted by SAPWG for SSAP 72 to the Notes to Financial Statement #13, as #13 (4).
2. Items Deferred.
- 2007-51BWG - Add instructions to Schedule E, Part 1 indicating that t he total of all Cash on Deposit at December 31should exclude nonadmitted amounts when crosschecking to the parenthetical amount reported as cash on the Assets Page.
3. Exposed twenty-four new proposals for comment. Comment period ends May 1, 2008.
4. Adopted the listing of editorial changes.
Other Discussion:
- Received a report from the Schedule T Subgroup.
- Received a status update regarding the impact to the blanks and instructions due to principles based reserving.
- Discussed the memorandum from the Accounting Practices and Procedures Task Force directing the Blanks Working Group to add “situs of the contract” as a premium allocation basis for groups of less than 500 members to the Schedule T instructions for life business ( 2007-42BWG). The Working Group members modified the proposal to be consistent with the direction of the Task Force, to include the “situs of the contract” definition as “the jurisdiction in which the contract is issued or delivered as stated in the contract”.
- Notified members of a proposal coming from Market Regulation (D) Committee to add a question to the Supplemental Exhibits and Schedules Interrogatories asking if a market conduct supplement will be filed.