CALENDAR: Insurance-Related Meetings: July 27-31
Jul 27, 2009
Monday, July 27
NAIC Valuation Method Principles-Based Reserve Health Subgroup Meeting
The National Association of Insurance Commissioners (“NAIC”) Valuation Method Principles-Based Reserve Subgroup of the Life and Health Actuarial Task Force met via teleconference on Monday, July 27, at 2:00 p.m. (EST) to discuss a draft of Valuation Method-25: Health Insurance Reserves Minimum Reserve Requirements. The registration call-in number is: 412.317.6715.
Tuesday, July 28
Florida Cabinet Meeting
Florida Governor Charlie Crist and the Florida Cabinet will meet on Tuesday, July 28, at 9:00 a.m. in the Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee. To view the complete Cabinet meeting agenda, click here. The agenda includes the following insurance-related items:
- Florida Office of Insurance Regulation (“OIR”)
- 69O-137.001: Annual and Quarterly Reporting Requirements
- 69O-138.001: NAIC Financial Condition Examiners Handbook Adopted
- Citizens Property Insurance Corporation (“Citizens”) Plan of Operation
- Note: To view the accompanying materials for the OIR agenda, click here; Citizens’ Plan of Operation amendments begin on page 12.
- Florida Department of Revenue
- 12B-8.001: Insurance Premium Tax; Rate and Computation
- Florida State Board of Administration
- Appointment of Randy Dumm, Ph.D., Insurance Finance Expert, Florida State University, as Chairman of the Florida Commission on Hurricane Loss Projection Methodology
DOR Rule Development
The Florida Department of Revenue (“DOR”), Division of Miscellaneous Tax has issued a Notice of Rulemaking Development regarding the following Rule:
- 12B-8.003: Tax Statement; Overpayments
The purpose of the proposed Rule amendments is to adopt changes to the forms utilized by the DOR in administering the insurance premium tax.
If a Rule Development Workshop is requested in writing and not deemed unnecessary by the agency head, one will be held at the date, time, and place shown below:
Date: Tuesday, July 28, 2009
Time: 10:00 a.m.
Place: Room 118 of the Carlton Building, 501 South Calhoun Street, Tallahassee
NAIC Joint Meeting: Life Insurance and Annuities Committee, Principles-Based Reserving Working Group and Solvency Modernization Initiative Task Force
The NAIC Life Insurance and Annuities Committee will hold a joint meeting with the Principles-Based Reserving Working Group and Solvency Modernization Initiative Task Force via teleconference on Tuesday, July 28, at 2:00 p.m. (EST). The registration call-in number is: 412.317.6715.
The following items are scheduled to be discussed:
- Adoption of the June 15, 2009 draft of Model 820 – Standard Valuation Law as adopted by the Life and Health Actuarial Task Force
- Adoption of the June 12, 2009 draft of Model 815 – Model Regulation Permitting the Recognition of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities as adopted by the Life and Health Actuarial Task Force
- Presentation by Sheldon Summers of the California Department of Insurance entitled “Too Much Reinsurance Credit”
At the recently-concluded NAIC 2009 Summer National Meeting, the Life Insurance and Annuities Committee also approved the release of the Valuation Manual section VM-20 and 2010 GRET table for comment. The Committee had deferred adopting revisions to both Model 820 and 815 in order to provide additional opportunity for regulators and interested parties to review the proposed revisions.
NAIC Catastrophe Subgroup Meeting
The NAIC Catastrophe Subgroup of the Casualty Actuarial and Statistical Task Force will meet via teleconference on Tuesday, July 28, at 2:00 p.m. (EST) to discuss the use of catastrophe models in insurance ratemaking. The registration call-in number is: 412.317.6715.
Wednesday, July 29
NAIC Valuation Method Principles-Based Reserve Process and Coordination Subgroup Meeting
The NAIC Valuation Method Principles-Based Reserve Process and Coordination Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Wednesday, July 29, at Noon (EST) to discuss Valuation Method-00: The Valuation Manual and Valuation Method-01: Definitions for Terms in Requirements. The registration call-in number is: 412.317.6715.
FSLSO Board of Governors Meeting
The Florida Surplus Lines Service Office (“FSLSO”) Board of Governors will meet on Wednesday, July 29, at 1:00 p.m., Boca Raton Resort and Club, 501 East Camino Real, Boca Raton. To view the meeting agenda and materials, click here.
NAIC Life Risk-Based Capital Working Group Meeting
The NAIC Life Risk-Based Capital Working Group of the Financial Condition Committee will meet via teleconference on Wednesday, July 29, at 2:00 p.m. (EST) to discuss steps to complete the American Academy of Actuaries’ C-3 Phase 3 proposal. The registration call-in number is: 412.317.6715.
Thursday, July 30
NAIC Valuation Method Principles-Based Reserve Life Subgroup Meeting
The NAIC Valuation Method Principles-Based Reserve Life Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Thursday, July 30, at 2:00 p.m. (EST) to discuss a draft of Valuation Method-20: Requirements for Principles-Based Reserves for Life Products. The registration call-in number is: 412.317.6715.
Friday, July 31
FWCJUA Investment Committee Meeting
The Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) will meet via teleconference on Friday, July 31, at 10:00 a.m. Items scheduled to be discussed include:
- A compliance review of the current FWCJUA investment portfolio
- A review of the FWCJUA asset investment policy and guidelines
To view the complete meeting agenda, click here.
NAIC Valuation Method Principles-Based Reserve Reporting and Review Subgroup Meeting
The NAIC Valuation Method Principles-Based Reserve Reporting and Review Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Friday, July 31, at 2:00 p.m. (EST) to discuss a draft of Valuation Method-30: Actuarial Opinion and Memorandum Requirements and Valuation Method-31: Reporting and Documentation Requirements for Business Subject to a Principles-Based Reserve Valuation. The registration call-in number is: 412.317.6715.
To unsubscribe from this newsletter, please send an e-mail to ccochran@cftlaw.com