Group Solvency Issues (EX) Working Group
Group Solvency Issues (EX) Working Group Page
Executive (EX) Committee Task Forces and Working Groups Summary Report
Summer 2009 Meeting Summaries Index
The Group Solvency Issues (EX) Working Group of the Solvency
Modernization Initiative (EX) Task Force met June 12, 2009.
During this meeting, the Working Group:
- Discussed comment letters regarding recommendations to enhance
the Insurance Holding Company System Model Regulatory Act (#440)
from the following insurance regulators and interested parties:
Illinois, Kansas, Missouri, Nebraska, North Carolina, South
Carolina, Virginia, Washington, Wisconsin, the American Insurance
Association (AIA) and the American Council of Life Insurers
(ACLI). The Working Group will summarize the recommendations
in a report and then hold an interim meeting to discuss which
recommendations are conceptually supported by the majority
of the Working Group members and interested regulators. A proposal
will then be drafted and distributed to the Financial Condition
(E) Committee and Solvency Modernization Initiative Task Force
to support the regulators’ desire and need to open the
existing model act for revisions.
- Heard presentations and reviewed comment letters from insurance
regulators and interested parties on pertinent group-wide international
activities and group issues that the Task Force should consider.
Comments were received from Kansas, North Carolina, Washington,
Wisconsin, Bermuda Monetary Authority, the AIA, the ACLI, the
Property Casualty Insurers Association of America (PCI) and
the Group of North American Insurance Enterprise (GNAIE). The
Working Group intends to prioritize the issues identified during
a future Working Group call, so that the Working Group can
begin to study the items in-depth.
- Adopted the minutes from its May 12 conference call, including
an update from the Supervisory College Subgroup, which intends
to meet shortly after the Summer National Meeting and complete
a proposal to the Working Group to recommend NAIC courses of
actions regarding supervisory colleges by December 2009.
Action Items:
- Adopted the minutes from the Working Group’s
May 12 conference call.
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