Category: NAIC

On Monday, February 23, 2009, the National Association of Insurance Commissioners (“NAIC”) Catastrophe Modeling Subgroup (“Subgroup”) of the Casualty Actuarial and Statistical Task Force met and discussed developments at the recent Reinsurance Association of America conference (“RAA Conference”) entitled “Cat …

National Association of Insurance Commissioners (“NAIC”) International Solvency and Accounting Working Group (“ISAWG”) Chairman Ramon Calderon has advised that reaching an international consensus on accounting principles for contracts may be difficult to achieve.  The NAIC believes that a principles-based solution is …

On Thursday, February 26, 2009, the National Association of Insurance Commissioners (“NAIC”) Multi-State Surplus Premium Tax Working Group (“Working Group”) met to discuss the draft Surplus Lines Survey for State Regulators (“Survey”) and comments received from the American Insurance Association …

On Thursday, January 29, 2009, the National Association of Insurance Commissioners (“NAIC”) Executive Committee (“Committee”) rejected a proposal to relax capital and surplus requirements for life insurers by a vote of 16-1.  In rejecting the proposals, the Committee ruled that …

ABOVE:  More than 150 people wait to testify before the NAIC Capital and Surplus Relief Working Group’s public hearing on January 27, 2009   The National Association of Insurance Commissioners (“NAIC”) Capital and Surplus Relief Working Group (“Working Group”) held …

The National Association of Insurance Commissioners (“NAIC”) Multi-State Surplus Lines Premium Tax Working Group (“Working Group”) held a meeting on January 28, 2009 in which it discussed issues relating to form commonality.  It was established that different states and jurisdictions …

The International Association of Insurance Supervisors (“IAIS”) Accounting Subcommittee (“Subcommittee”) has released the Issues Paper below for comment by Monday, January 26, 2009.  Comments may be sent to Henning Göbel at henning.goebel@bafin.de. Issues Paper on the Relationship Between the Actuary …

On Thursday, January 8, 2009, the National Association of Insurance Commissioners (“NAIC”) Catastrophe Modeling Subgroup (“Subgroup”) of the Casualty Actuarial and Statistical Task Force met to discuss an American Academy of Actuaries (“AAA”) Issues Brief (“Issues Brief”) and other related …

On Tuesday, January 7, 2009, the National Association of Insurance Commissioners (“NAIC”) Life Risk-Based Capital Working Group (“Working Group”) held a meeting to discuss a risk-based capital form completion guidance memorandum.  At the NAIC’s Winter 2008 National Meeting, regulators expressed …

The National Association of Insurance Commissioners (“NAIC”) Capital & Surplus Relief Working Group met on January 2, 2009 to hear a status report concerning comments received related to the American Council of Life Insurers’ (“ACLI”) November 11, 2008 recommendations for …