NAIC Summer 2008 National Meeting Summaries and Supplemental Materials

A member of Colodny Fass attended the National Association of Insurance Commissioners (“NAIC”) Summer 2008 National Meeting, which was held from Friday, May 30 through Monday, June 2, 2008 in San Francisco, California.

Below are pertinent committee, task force, working group, subgroup, and technical group supplemental meeting materials.

A comprehensive document containing meeting summaries is attached for your review.

 

Reinsurance (E) Task Force

The Reinsurance Task Force met on Saturday, May 31.

To view interested parties’ comments submitted in advance of the meeting regarding the Reinsurance Regulatory Modernization Proposal, click here.

Other supplemental meeting materials included:

• December 2, 2007 memorandum detailing the Reinsurance Regulatory Modernization Proposal
• May 16, 2008 memorandum summarizing Reinsurance Task Force Activities from the May 7-9 regulator-to-regulator meeting held in Newark, NJ
• May 31, 2008 Reinsurance Task Force agenda
• Revenue Ruling on Imposition of Tax
• Revenue Ruling examples
• Voluntary compliance initiative covering policies of insurance and reinsurance issued by foreign insurers and reinsurers

To view supplemental materials for this meeting, click here.

 

Surplus Lines (C) Task Force

Supplemental materials for this meeting included:

• Surplus Lines Insurance Multi-State Compliance Compact
• U.S. HR 1065, the “Nonadmitted and Reinsurance Reform Act of 2007

International Solvency and Accounting (E) Working Group

The International Solvency and Accounting (E) Working Group met on Saturday, May 31.

Supplemental materials for this meeting included:

• April, 2008 draft guidance paper entitled “Capital Resources for Solvency Purposes”
• May, 2008 draft paper entitled “Group-Wide Solvencies Assessments”
• Draft responses to the IASB discussion paper “Reducing Complexity in Reporting Financial Instruments”
• May 12, 2008 memorandum updating IASB and FASB matters

To view supplemental materials for this meeting, click here.

Emerging Accounting Issues (E) Working Group

The Emerging Accounting Issues (E) Working Group met on Saturday, May 31.

Supplemental materials for this meeting included:

• Emerging Accounting Issues Working Group Meeting Agenda
• Emerging Accounting Issues Working Group Additional Handout Packet
  

 

Statutory Accounting Principles (E) Working Group

The Statutory Accounting Principles (E) Working Group held a meeting and hearing on May 31, 2008.

Supplemental materials for this meeting included:

• Statutory Accounting Principles Working Group Meeting Agenda
• Statutory Accounting Principles Working Group Additional Handout Packet
• Statutory Accounting Principles Hearing Agenda, Part A and Part B.

 

Climate Risk Disclosure (EX) Working Group

The Climate Risk Disclosure (EX) Working Group met on May 30, 2008.

Supplemental materials for this meeting included:

• Climate Risk Disclosure Working Group Meeting Packet

Health Innovations (B) Working Group

The Health Innovations (B) Working Group held a public hearing on the subject of health care costs on May 30.

Supplemental materials for this meeting include information from the following speakers:

• Martin Wilson, representing the Coalition to Advance Healthcare Reform
• Dr. Steven Halpern, Senior Market Medical Executive, CIGNA HealthCare
• Brent Barnhardt, Senior Counsel, Kaiser Foundation Health Plan
• Shari Westerfield, Chair, American Academy of Actuaries State Health Committee
• Alix Love, Acting Director for Public Policy, National Committee for Quality Assurance
• D. Kent Michie, Utah Insurance Commissioner

To view the complete agenda for this hearing, click here.

Additional Presentations Given During the Summer 2008 National Meeting

On Sunday June 1, 2008, Louisiana Insurance Commissioner James Donelon and his staff gave a presentation which discussed disaster preparation. This discussion was held in conjunction with the NAIC meetings in San Francisco.

To view a copy of the presentation “Response to an Emergency or Disaster”, click here.

Supplemental materials for this presentation included:

• Directive 197 regarding record retention by regulated entities
• May, 2008 Graduation speech given by Tulane University President Scott. S. Cowen

 

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

 

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