2019 Spring National Meeting
Orlando, Florida
Saturday, April 6, 2019
2:00 – 3:00 p.m.
JW Marriott Orlando–Palazzo Ballroom Salons D & E–Lobby Level

Please send all comments to Becky Meyer at bmeyer@naic.org by May 8, 2019.

Part A Preamble – Fraternals Subject to PBR

The proposal revises the Part A Preamble to include fraternal benefits societies with respect to principle-based reserving (PBR). PBR was previously adopted as an accreditation standard and includes fraternals in the standard. The proposed Preamble change therefore ensures consistency with the standard in conjunction with the effective date of Jan. 1, 2020.

Part D – Organization, Licensing and Change of Control of Domestic Insurers

The proposal includes the following elements for consideration during the exposure:

  • Update the guidelines to reflect current practices (changes tracked in attachment)
  • Expand the scope to include redomestications
  • Subject Part D to a Recommendation A or B from the review teams with the result that the outcome can affect a state's accredited status
  • Effective date for the updates and inclusion of redomestications of January 1, 2020
  • Effective date to subject to Recommendation A or B of January 1, 2022.

Related NAIC Publications


Financial Regulation Standards and Accreditation (F) Committee

Mission Statement

The mission of the NAIC accreditation program is to establish and maintain standards to promote sound insurance company financial solvency regulation. The accreditation program provides a process whereby solvency regulation of multi-state insurance companies can be enhanced and adequately monitored with emphasis on the following:

  1. Adequate solvency laws and regulations in each accredited state to protect consumers and guarantee funds.

  2. Effective and efficient financial analysis and examination processes in each accredited state.

  3. Appropriate organizational and personnel practices in each accredited state.

  4. Effective and efficient processes regarding the review of organization, licensing and change of control of domestic insurers in each accredited state.

2019 Charges

  1. The Financial Regulation Standards and Accreditation (F) Committee will:
    1. Maintain and strengthen the NAIC Financial Regulation Standards and Accreditation Program.
    2. Assist the states, as requested and as appropriate, in implementing laws, practices and procedures, and with obtaining personnel required for compliance with the standards.
    3. Conduct a yearly review of accredited jurisdictions.
    4. Consider new model laws, new practices and procedures, and amendments to existing model laws and practices and procedures required for accreditation and determine timing and appropriateness of addition of such new model laws, new practices and procedures, and amendments.
    5. Render advisory opinions and interpretations of model laws required for accreditation and on substantial similarity of state laws.
    6. Review existing standards for effectiveness and relevancy and make recommendations for change, if appropriate.
    7. Produce, maintain and update the NAIC Accreditation Program Manual to provide guidance to state insurance regulators regarding the official standards, policies and procedures of the program.
    8. Maintain and update the "Financial Regulation Standards and Accreditation Program" pamphlet
    9. Perform enhanced pre-accreditation review services, including, but not limited to, additional staff support, increased participation, enhanced report recommendations and informal feedback.

Recent Changes to Accreditation Standards

Effective January 1, 2018
Effective January 1, 2019
Effective January 1, 2020