Capital Adequacy (E) Task Force
Adopted Modifications to Risk-Based Capital Formulas (Health, Life and Property/Casualty)
Last Updated December 1, 2020
This listing does not include adopted proposals for Risk-Based Capital for the years 2019 and prior.
Proposals are listed in "Effective Date" order followed by the "Date Adopted."
CA = All Formulas; H = Health; L/F = Life/Fraternal; P/C = Property/Casualty
|Proposal No.||Effective Date||Description||Date Adopted||Formula Affected|
|2020-07-H||2021 Year-End||Split Bonds and Miscellaneous Assets into two separate pages (XR007 and XR008) with all subsequent pages renumbered.||11/19/2020||H|
|2020-04-H||2021 Year-End||The MAX function was added to the formula included in Line 17 of page XR021 in the forecasting spreadsheet.||11/19/2020||H|
|2020-02-CA||2021 Year-End||Deleted the ACA Fee Sensitivity Test from the Health, Life & Fraternal and Property & Casualty RBC formulas.||11/19/2020||CA|
|2020-12-CR||2020 Year-End||2020 Cat Event List.||11/19/2020||P|
|2020-03-L||2020 Year-End||Modified the C-3 RBC instructions for 2020 and includes the deletion of instructions specific to 2019 which are not applicable to 2020 and beyond.||08/05/2020||L|
|2020-05-CA||2020 Year-End||Inserted the word "Overview" on the page iv heading and modified the Table of Contents to include only the page heading and deleted references to the individual sections of the Overview.||06/30/2020||CA|
|2018-19-P||2020 Year-End||Modified the instructions to reflect the factors for all uncollateralized reinsurance recoverable from unrated reinsurers to be the same for authorized, unauthorized, certified and reciprocal reinsurance.||06/30/2020||P|
|2020-01-P||2020 Year-End||Annual update of the Line 1 factors for pages PR017 and PR018.||06/30/2020||P|
|2020-06-L||2020 Year-End||Additional instructions for the completion of the longevity risk schedule in the Life and Fraternal RBC formula.||06/30/2020||L|
Increase the number of NAIC Designations for Bonds from the current 6 to 20 in all RBC formulas.
|2019-13-L||2020 Year-End||A new schedule and instructions were added to the Life and Fraternal RBC formula for longevity risk.||04/30/2020||L|
|2019-07-CA||2020 Year-End||The RBC Preamble provides a summary of the purpose of RBC including the history, objectives and critical concepts of RBC.||12/08/2019||CA|
|2019-11-P||2020 Year-End||The changes clarified the reinsurance recoverable from individual syndicates of Lloyd's of London that are covered under the Lloyd's Central Fund may utilize the lowest financial strength group rating recieved from an approved rating agency.||12/08/2019||P|
|2019-12-P||2020 Year-End||Eliminated the adjustment for reinsurance penalty for affiliates applicable to Schedule F on page PR038.||12/08/2019||P|
|2018-17-CA||2020 Year-End||The capitation tables included in the forecasting file will be captured electronically.||06/28/2019||CA|