2020 Charges

The Receivership Law (E) Working Group will:

1. Review and provide recommendations on any issues identified that may affect states’ receivership and guaranty association laws; for example, any issues that arise as a result of market conditions, insurer insolvencies, federal rulemaking and studies, international resolution initiatives or as a result of the work performed by other NAIC committees, task forces and/or working groups.
2. Discuss significant cases that may impact the administration of receiverships.
3. Complete work as assigned from the Task Force to address recommendations from the Financial Stability (EX) Task Force’s Macroprudential Initiative (MPI) referral as follows:
   1. Draft updated guidance for the Receiver's Handbook on taxes in receivership and federal releases;
   2. Explore if bridge institutions could be implemented under regulatory oversight pre-receivership to address an early termination of qualified financial contracts (QFCs), and if appropriate, develop applicable guidance. Review the Receiver's Handbook guidance on QFCs and if necessary, draft enhancements. Identify related pre-receivership considerations related to QFCs and, if necessary, make referrals to other relevant groups to enhance pre-receivership planning, examination and analysis guidance; and,
   3. Review and provide recommendations for remedies to ensure continuity of essential services and functions to an insurer in receivership by affiliated entities, including non-regulated entities. Consult with the Group Solvency Issues (E) Working Group as the topic relates to affiliated intercompany agreements.