Examination Oversight (E) Task Force
Examination Oversight (E) Task Force Page
Joint Executive (EX) / Plenary Committee Summary Report
Winter 2009 Meeting Summaries Index

The Examination Oversight (E) Task Force met Dec. 6, 2009. During this meeting, the Task Force:

• Adopted new risk-focused exam repositories for inclusion in the NAIC Financial Condition Examiners Handbook. The newly created exam repositories assist the examiner in identifying the risks that are often inherent within some of the more standard key activities of a typical insurance company.

• Discussed the progress of the Task Force in addressing issues referred from the Credit Default Swap (E) Working Group related to the economic crisis. The majority of the recommendations from this Working Group have been completed and adopted for inclusion into the Financial Condition Examiners Handbook and the Financial Analysis Handbooks, as well as into the financial analysis tools maintained by the NAIC. In 2010, working groups of the Task Force will continue to focus on responding to some of the other recommendations of the Credit Default Swap (E) Working Group, including a project to create an exam risk alert to be used while conducting financial condition examinations for year-end 2009.

• Discussed a survey of the states regarding progress toward adopting the revised Model Regulation to Define Standards and Commissioner’s Authority for Companies Deemed to be in Hazardous Financial Condition (#385). The survey indicated that five states have completed the process to adopt the 2008 revisions to the model.

• Adopted the reports of the Analyst Team System Oversight (E) Working Group, Financial Analysis Handbook (E) Working Group, Financial Examiners Coordination (E) Working Group and Financial Examiners (E) Handbook Technical Group.