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Life Risk-Based Capital (E) Working Group

2020 Membership

2020 Charges

The Life Risk-Based Capital (E) Working Group of the Capital Adequacy (E) Task Force will:

  1. Evaluate refinements to the existing NAIC risk-based capital (RBC) formulas implemented in the prior year. Forward the final version of the structure of the current year life and fraternal, property/casualty (P/C), and health RBC formulas to the Financial Condition (E) Committee by June.
  2. Consider improvements and revisions to the various RBC blanks to: 1) conform the RBC blanks to changes made in other areas of the NAIC to promote uniformity; and 2) oversee the development of additional reporting formats within the existing RBC blanks as needs are identified. Any proposal that affects the RBC structure must be adopted no later than April 30 in the year of the change, and adopted changes will be forwarded to the Financial Condition (E) Committee by the next scheduled meeting or conference call. Any adoptions made to the annual financial statement blanks or statutory accounting principles that affect an RBC change adopted by April 30 and results in an amended change may be considered by July 30 for those exceptions where the Capital Adequacy (E) Task Force votes to pursue by super-majority (two-thirds) consent of members present, no later than June 30 for the current reporting year.
  3. Monitor changes in accounting and reporting requirements resulting from the adoption and continuing maintenance of the revised Accounting Practices and Procedures Manual (AP&P Manual) to ensure that model laws, publications, formulas, analysis tools, etc., supported by the Task Force continue to meet regulatory objectives.
  4. Review the effectiveness of the NAIC’s RBC policies and procedures as they affect the accuracy, audit ability, timeliness of reporting access to RBC results and comparability between the RBC formulas. Report on data quality problems in the prior year RBC filings at the summer and fall national meetings.

The following Subgroups report to the Life Risk-Based Capital (E) Working Group:

Final Instructions for the Life Risk-Based Capital Schedules Changed by the New Commercial Mortgage Methodology

Instruction to Receive the National Council of Real Estate Investment Fiduciaries' Price Index

Mortgage Instruction Update

Additional guidance for the treatment of the Asset Valuation Reserve in C-3

 

Joint Call: Life Actuarial (A) Task Force & Life Risk-Based Capital (E) Working Group
Joint Call:
Life Actuarial (A) Task Force
Life Risk-Based Capital (E) Working Group

Public Webex Meeting
Tuesday, October 27, 2020
1:00 PM ET, 12:00 PM CT, 11:00 AM MT, 10:00 AM PT Expected Length of Call: 1 hr
Webex Link

The topic of the call will be the background and deliverables for implementation of the new Economic Scenario Generator.


Life Risk-Based Capital (E) Working Group 20201110

Public Webex Meeting
Tuesday, November 10, 2020
12:00 PM ET, 11:00 AM CT, 10:00 AM MT, 9:00 AM PT Expected Length of Call: 1 hr
Webex Link

The purpose of the call is to adopt minutes and continue discussion of working agenda.


Life Risk-Based Capital (E) Working Group

2020 Summer National Meeting
Life Risk-Based Capital (E) Working Group
Thursday, July 30, 2020
2:00 PM - 3:00 PM CT

Related NAIC Publications

Contacts

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


Dave Fleming
Senior Insurance Reporting Analyst
Phone: 816-783-8121
E-mail: dfleming@naic.org

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