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NAIC Requests Comments on Fiscal Impact Statement for Economic Scenario Generator

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KANSAS CITY, Mo. (July 16, 2020) — The National Association of Insurance Commissioners (NAIC) has released a Fiscal Impact Statement for a two-week comment period. The fiscal regards funding for an Economic Scenario Generator (ESG) producing real-world interest and equity scenarios to be prescribed for use in calculations of life and annuity Statutory reserves according to the Valuation Manual (VM-20, VM-21) and capital under the NAIC RBC requirements (C3 Phase 1, C3 Phase 2). 

A vote to approve the fiscal is expected during the 2020 Summer National Meeting in August.

Information about this project is available on www.naic.org. Comments on the fiscal are due to jwoody@naic.org by July 30, 2020.

Fiscal Impact Statement – Economic Scenario Generator
Comments due by July 30, 2020

About the NAIC

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. For more information, visit www.naic.org.

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