Market Conduct Examination Standards (D) Working Group
Market Conduct Examination Standards (D) Working Group Page
Joint Executive (EX) / Plenary Committee Summary Report
Summer 2009 Meeting Summaries Index

The Market Conduct Examination Standards (D) Working Group met via conference call March 24, 2009. During the call, the Working Group:

• Reviewed the 2008 Market Regulation Handbook (D) Working Group carry-over items, specifically the revision of a Commercial Property and Casualty Standardized Data Request and the revision of Chapter 18—Conducting the Title Insurance Company and Title Insurance Agent Examination in the Market Regulation Handbook.
• Reviewed a listing of new and revised NAIC models adopted January 2007–December 2008. Subgroups were formed to review life- and annuity-related models and property/casualty-related models.
• Discussed areas of missing text in the market conduct examination standards sections of Chapters 16, 18, 19, 20 and 24 of the Market Regulation Handbook. Volunteers were solicited from Working Group members to review the sections.

The Market Conduct Examination Standards (D) Working Group met via conference call May 12. During the call, the Working Group:

• Discussed the revised Chapter 18−Conducting the Title Insurance Company and Title Insurance Agent Examination. Regulators and interested parties are asked to review the chapter and provide comments by June 23.
• Discussed a draft of a Commercial Property and Casualty Standardized Data Request. Revisions from New Hampshire are being incorporated into the document and will be posted for review and comment prior to the next Working Group call.
• Discussed updates to the Market Regulation Handbook with regard to models related to life & health and property & casualty. Regulator volunteers are currently reviewing the models and drafting updates to the examination standards section of the Market Regulation Handbook.
• Discussed areas of missing text in Chapter 18–Conducting the Title Insurance Company and Title Insurance Agent Examination. A revised draft of the missing sections in Chapter 18 will be posted for review and comment prior to the next Working Group call.
• Discussed the incorporation of guidelines into the Market Regulation Handbook with regard to insurance department oversight of contract examiners. A revised Chapter 12–Scheduling, Coordinating and Communicating had been circulated to the Working Group, with comments due by June 23.
• Discussed the inclusion of risk-based methodology in market conduct examinations in the Market Regulation Handbook. A corporate governance proposal and methodology are currently posted for comment and review.

The Market Conduct Examination Standards (D) Working Group did not meet at the Summer National Meeting.

A Market Conduct Examination Standards (D) Working Group conference call will be scheduled for June 24 at 2:30 p.m. Eastern/1:30 p.m. Central/12:30 p.m. Mountain/11:30 a.m. Pacific.

Action Items: