Market Analysis Procedures (D) Working Group
Market Analysis Procedures (D) Working Group Page
Joint Executive (EX) / Plenary Committee Summary Report
Fall 2009 Meeting Summaries Index

The Market Analysis Procedures (D) Working Group met via conference call Sept. 3, July 22 and June 17, 2009.

During its Sept. 3 meeting, the Working Group:

• Discussed proposed changes to the Market Regulation Handbook and voted to draft a risk-focused approach section for the market analysis chapters of the handbook.
• Formed a subgroup to create an interactive PDF file to be used for tracking suggested changes to the Complaints Database System.

During its July 22 meeting, the Working Group:

• Adopted changes to the Minimum Level 1 Analysis requirements for the states. The number of analyses are to be measured on a calendar-year basis. The analyses must use the most current market and financial data available at the time of the analysis. Report cards will be issued each January beginning 2011, measuring the number of analyses conducted by jurisdiction between Jan. 1, 20xx, and Dec. 31, 20xx. Only Level 1 analyses that are completed and approved by the market analysis chief of the jurisdiction will meet the minimum requirements.
• Reviewed an automated process developed and used by the Operational Efficiencies (EX) Working Group to collect suggestions for updating the codes used in SERFF. It was agreed that this could be a good method for tracking suggested changes to the Complaints Database System manual. Additional information about the process will be gathered and presented to the Working Group.
• Received a report from the Market Analysis Research and Development (MARD) focus group. The Enhancements worksheet used by the group will be revised to provide more detail that will be useful for prioritizing requests. In addition, the following changes were approved: CDS – Summary Index Report – removing companies that have no market share in the initial state; MAPR – replacing the Modified IRIS – one year report with the five years of IRIS information form the Complete Profile Report; Market Share Report – provide a clarification of the title “US Market Share” for instances when jurisdictional market share is being reported; MARS – add title LOB, provide a warning box after 25 minutes of inactivity, modify the “view” option to provide a more detailed view of the analysis and change the error notification from a banner to a pop-up; MITS – increase field size from 50 to 100 characters.

During its June 17 meeting, the Working Group:

• Discussed the status of the 2009 tasks:
  • The CDS Manual revisions have been completed. They were adopted by the Market Regulation and Consumer Affairs (D) Committee at the Summer National Meeting, with the revision date to be determined pending the implementation of the CDS coding changes. MAP will begin developing a structured process for implementing future revisions.
  • The group has investigated the current lines of business available in MARS and MAPT and will develop suggestions for additional lines of business. The group is investigating the usage of the market analysis systems.
  • The Level 1 Analysis minimum requirements recommendation has been posted on the Web site and the group is receiving comments until June 26.
  • The Market Regulation Handbook group requested input on market analysis techniques used in the jurisdictions.
• Considered a recommendation from MARD to change the language and distribution of the e-mail that is generated when an analyst concludes a Level 1 or Level 2 Analysis, with the recommendation to refer to CAD for possible collaborative action. The suggested verbiage change and distribution will be posted, with a July 3 comment deadline.
• Discussed the NAIC staff report to the Market Regulation and Consumer Affairs (D) Committee concerning the Market Information Systems. Sent a link to the report and requested that comments be directed to Craig Leonard (NAIC) by July 10.