Advisory Organization Examination Oversight (C) Working Group
Advisory Organization Examination Oversight (C) Working Group Page
Joint Executive (EX) / Plenary Committee Summary Report
Winter 2009 Meeting Summaries Index

The Advisory Organization Examination Oversight (C) Working Group met Dec. 7 in regulator-to-regulator session, in accordance with the NAIC Policy Statement on Open Meetings. During the meeting, the Working Group:

  • Considered a draft memorandum of understanding (MOU) that will allow the domestic regulator and the lead state(s) to examine advisory organizations and statistical agents with one coordinated exam on an entity for all issues by all jurisdictions. Each of the participating jurisdictions agrees to accept the results from the examination when an examination is conducted. The draft MOU was sent to all jurisdictions for review in October. The MOU is expected to be distributed by the NAIC Legal Division to all jurisdictions within the next few weeks, and it is hoped that all jurisdictions will sign it.
  • Discussed examination protocols and plans to coordinate multi-state examinations of advisory organizations and statistical agents.

The Working Group also met via conference call Nov. 23 in regulator-to-regulator session, in accordance with the NAIC Policy Statement on Open Meetings. During this call, the Working Group:

  • Adopted revisions to Chapter 25 of the Market Regulation Handbook. Most of the revisions were proposed by the National Council on Compensation Insurance (NCCI).
  • Considered a draft memorandum of understanding (MOU) that will allow the domestic regulator and the lead state(s) to examine advisory organizations and statistical agents with one coordinated exam on an entity for all issues by all jurisdictions.
  • Discussed examination protocols and plans to coordinate multi-state examinations of advisory organizations and statistical agents.
 

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