Catastrophe Risk (E) Subgroup
- Financial Condition (E) Committee
- Accounting Practices and Procedures (E) Task Force
- Blanks (E) Working Group
- Statutory Accounting Principles (E) Working Group
- Capital Adequacy (E) Task Force
- Health Risk-Based Capital (E) Working Group
- Investment Risk-Based Capital (E) Working Group (disbanded)
- Life Risk-Based Capital (E) Working Group
- Longevity Risk (E/A) Subgroup
- Variable Annuities Capital and Reserve (E/A) Subgroup
- Property and Casualty Risk-Based Capital (E) Working Group
- Catastrophe Risk (E) Subgroup
- Examination Oversight (E) Task Force
- Electronic Workpaper (E) Working Group
- Financial Analysis Solvency Tools (E) Working Group
- Financial Examiners Coordination (E) Working Group
- Financial Examiners Handbook (E) Technical Group
- Information Technology (IT) Examination (E) Working Group
- Financial Analysis (E) Working Group
- Financial Stability (E) Task Force
- Liquidity Assessment (E) Subgroup
- Group Capital Calculation (E) Working Group
- Group Solvency Issues (E) Working Group
- Own Risk and Solvency Assessment (ORSA) Implementation (E) Subgroup
- Mortgage Guaranty Insurance (E) Working Group
- NAIC/American Institute of Certified Public Accountants (AICPA) (E) Working Group
- National Treatment and Coordination (E) Working Group
- Biographical Third-Party Review (E) Subgroup
- Receivership and Insolvency (E) Task Force
- Receivership Financial Analysis (E) Working Group
- Receivership Large Deductible Workers' Compensation (E) Working Group (disbanded)
- Receivership Law (E) Working Group
- Reinsurance (E) Task Force
- Qualified Jurisdiction (E) Working Group
- Reinsurance Financial Analysis (E) Working Group
- Restructuring Mechanisms (E) Working Group
- Restructuring Mechanisms (E) Subgroup
- Risk-Focused Surveillance (E) Working Group
- Risk Retention Group (E) Task Force
- Valuation Analysis (E) Working Group
- Valuation of Securities (E) Task Force
2021 Adopted Charges
The Catastrophe Risk (E) Subgroup of the Property and Casualty Risk-Based Capital (E) Working Group will:
- Recalculate the premium risk factors on an ex-catastrophe basis, if needed.
- Continue to update the U.S. and non-U.S catastrophe event list.
- Continue to evaluate the need for exemption criteria for insurers with minimal risk.
- Evaluate the risk-based capital (RBC) results inclusive of a catastrophe risk charge.
- Refine instructions for the catastrophe risk charge.
- Continue to evaluate any necessary refinements to the catastrophe risk formula.
- Evaluate other catastrophe risks for possible inclusion in the charge.
Catastrophe Event List Process
- Interested parties will provide the list of catastrophe events for the current year by October 31. The events should be limited to events with insured losses greater than US $25 million and should be numbered and labeled by source: PCS, Munich Re NatCat Service or Swiss Re Sigma. The following information is required for the submission:
- Catastrophe Event Year
- Event Type
- Event Beginning Date and Ending Date
- Affected Country/Countries
- Affected Areas
- Source of the information
- Estimated loss in US$
- The Catastrophe Risk (E) Subgroup will expose the list on November 7.
- The Subgroup will either schedule a conference call or conduct an email vote to adopt the list before November 15.
- The Capital Adequacy (E) Task Force will consider adopting the list at the Fall National Meeting.
- The list will be published on the Catastrophe Risk (E) Subgroup’s website after it’s adopted by the Capital Adequacy (E) Task Force.
- Any additional events that happen between November 1 and December 31 will be exposed by the Catastrophe Risk (E) Subgroup on January 2.
- The Catastrophe Risk (E) Subgroup will either schedule a conference call or conduct an email vote to adopt the updated list after the Committee Assignment Meeting.
- The Capital Adequacy (E) Task Force will consider adopting the updated list on or before January 31.
- The updated list will be published on the Catastrophe Risk (E) Subgroup’s website after it’s adopted by the Capital Adequacy (E) Task Force.
Public Webex Meeting
Monday, March 08, 2021
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT
Expected Length of Call: 1 hr
Webex Link
Interim meeting in lieu of the Spring National Meeting.
Related NAIC Publications
Contacts
Media Inquiries
(816) 783-8909
news@naic.org
Eva Yeung
RBC Technical Lead / Reporting Analyst
Phone: 816.783.8407
E-mail: EYeung@naic.org
Please see the current Committee List for a complete list of committee members.