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Financial Stability (E) Task Force

2022 Membership

2023 Proposed Charges

The mission of the Financial Stability (E) Task Force is to consider issues concerning domestic or global financial stability as they pertain to the role of state insurance regulators.

  1. Manage the macroprudential supervisory component of the NAIC financial solvency framework.
    1. Monitor the U.S. insurance industry’s macroprudential risk levels.
    2. Maintain macroprudential regulatory tools.
    3. Identify data gaps and enhanced disclosure needs for the statutory financial statement and/or other reporting mechanisms.
    4. Propose enhancements and/or additional supervisory measures to the Financial Condition (E) Committee or other relevant committees, and consult with such committees on implementation.
  2. Monitor U.S. macroprudential policy issues, and respond as appropriate.
    1. Support and work with the state insurance regulator representative to the Financial Stability Oversight Council (FSOC) to address confidential FSOC or other federal agency macroprudential work.
    2. Participate in public FSOC or other federal agency macroprudential work.
  3. Monitor international macroprudential policy issues, and participate/respond as appropriate.
    1. Coordinate with the International Insurance Relations (G) Committee to address International Association of Insurance Supervisors (IAIS) or other international macroprudential work.

2022 Adopted Charges

The mission of the Financial Stability (E) Task Force is to consider issues concerning domestic or global financial stability as they pertain to the role of state insurance regulators.

  1. The Financial Stability (E) Task Force will:
    1. Consider issues concerning domestic and global financial stability as they pertain to the role of state insurance regulators and make recommendations to the International Insurance Relations (G) Committee, the Government Relations (EX) Leadership Council and/or the Executive (EX) Committee, as appropriate.
      1. Analyze existing post-financial crisis regulatory reforms for their application in identifying macroeconomic trends, including identifying possible areas of improvement or gaps, and propose to the Financial Condition (E) Committee or other relevant committee enhancements and/or additions to further improve the ability of state insurance regulators and the industry to address macroprudential impacts; consult with such committees on implementation, as needed.
    2. Consider state insurance regulators’ input to national and international discussions on macroeconomic vulnerabilities affecting the insurance sector.
      1. Monitor international macroprudential activities at forums like the International Association of Insurance Supervisors (IAIS).
      2. Implement the Macroprudential Initiative (MPI) domestically, which includes enhancements to the U.S. regulatory toolkit as part of the State Ahead initiative.
    3. Serve as a forum to coordinate state insurance regulators’ perspectives on a wide variety of issues arising from the designation of a U.S. insurance group as “systemically important” and “internationally active” both pre- and post-designation, including:
      1. Where appropriate, develop policy recommendations and/or guidance regarding the role, responsibilities and activities of state insurance regulators in the context of consolidated supervision resulting from designation.
      2. Analyze proposed rules by the federal agencies that relate to financial stability.
      3. Analyze proposed policy measures regarding supervisory standards for global systemically important insurers (G-SIIs) and internationally active insurance groups (IAIGs).
      4. Develop comment letters on such analysis for further consideration by the International Insurance Relations (G) Committee, the Government Relations (EX) Leadership Council, and/or the Executive (EX) Committee, as appropriate.

 

 

Joint Meeting of the Financial Stability (E) Task Force and the Macroprudential (E) Working Group

2022 Fall National Meeting
Joint Meeting of the Financial Stability (E) Task Force and the Macroprudential (E) Working Group
Tuesday, December 13, 2022
2:00 PM - 3:00 PM ET

Florida Ballroom Salon IV - VI - Level 2 - Marriott

Key Documents
Education & Training Events

There are no education and training events at this time.

Related NAIC Publications

Contacts

Media Inquiries
(816) 783-8909
news@naic.org


Todd Sells
Director, Financial Regulatory Policy & Data
816.783.8403

Tim Nauheimer
Sr. Financial Markets Advisor – Macroprudential Surveillance
212.386.1941

Please see the current Committee List for a complete list of committee members.