Group Solvency Issues (EX) Working Group
Group Solvency Issues (EX) Working Group Page
Executive (EX) Committee Task Forces and Working Groups Summary Report
Fall 2009 Meeting Summaries Index

The Group Solvency Issues (EX) Working Group of the Solvency Modernization Initiative (EX) Task Force met Sept. 23, 2009. During the meeting, the Working Group:

• Discussed the matrix of assignments, as well as the short-term and long-term nature of some of the research efforts as they relate to the Working Group’s charges.

• Discussed initial draft revisions by Working Group members to the Insurance Holding Company System Model Act (#440) and the Insurance Holding Company System Model Regulation with Reporting Forms and Instructions (#450) on topics outlined in the matrix of assignments. The Working Group intends to continue to discuss, revise and edit the draft revisions before formally exposing the documents for comment.   

• Discussed upcoming research efforts, including certain items that NAIC staff were directed to research, as well as suggestions on collecting information for international research efforts.

• Received a report from the chair of the Subgroup on Supervisory Colleges and Methods of Cross-Border Communication. The Working Group requested comments from interested regulators and interested parties on the International Association of Insurance Supervisors (IAIS) Guidance Paper on the Use of Supervisory Colleges in Group-Wide Supervision.

• Received a report from Florida on activities of the IAIS Insurance Groups and Cross-Sectoral Issues Subcommittee related to international insurance holding company topics.

• Received a report from Nebraska on the coordination of Working Group efforts with the Solvency Modernization Initiative Task Force.