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Reinsurance (E) Task Force

2021 Membership

2021 Adopted Charges

The mission of the Reinsurance (E) Task Force is to monitor and coordinate activities and areas of interest that overlap to some extent the charges of other NAIC groups—specifically, the International Insurance Relations (G) Committee.

  1. The Reinsurance (E) Task Force will:
    1. Provide a forum for the consideration of reinsurance-related issues of public policy.
    2. Oversee the activities of the Reinsurance Financial Analysis (E) Working Group.
    3. Monitor the implementation of the 2011, 2016 and 2019 revisions to the Credit for Reinsurance Model Law (#785); and the 2011 and 2019 revisions to the Credit for Reinsurance Model Regulation (#786) and the Term and Universal Life Insurance Reserve Financing Model Regulation (#787).
    4. Communicate and coordinate with the Federal Insurance Office (FIO), other federal authorities, and international regulators and authorities on matters pertaining to reinsurance.
    5. Consider any other issues related to the revised Model #785, Model #786 and Model #787.
    6. Monitor the development of international principles, standards and guidance with respect to reinsurance. This includes, but is not limited to, monitoring the activities of various groups within the International Association of Insurance Supervisors (IAIS), including the Reinsurance and Other Forms of Risk Transfer Subcommittee, the Reinsurance Mutual Recognition Subgroup and the Reinsurance Transparency Group.
    7. Consider the impact of reinsurance-related federal legislation, including, but not limited to, the federal Nonadmitted and Reinsurance Reform Act (NRRA) and the Federal Insurance Office Act, and coordinate any appropriate NAIC action.
    8. Continue to monitor the impact of reinsurance-related international agreements, including the “Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance” (EU Covered Agreement) and the “Bilateral Agreement Between the United States of America and the United Kingdom on Prudential Measures Regarding Insurance and Reinsurance” (UK Covered Agreement).

The following Working Groups provide direct support to the Reinsurance Task Force:

 

KEY DOCUMENTS OF THE REINSURANCE (E) TASK FORCE

Certified Reinsurance - Public Notice

Credit for Reinsurance Model Law (#785)

On June 25, 2019, the NAIC Executive (EX) Committee and Plenary adopted revisions to the Credit for Reinsurance Model Law (#785) which incorporate relevant provisions of the Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance ("Covered Agreement"). Prior adopted revisions to the model are included as a reference.

Credit for Reinsurance Model Regulation (#786)

On June 25, 2019, the NAIC Executive (EX) Committee and Plenary adopted revisions to the Credit for Reinsurance Model Regulation (#786) which incorporate relevant provisions of the Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance ("Covered Agreement"). Prior adopted revisions to the model are included as a reference.

Term and Universal Life Insurance Reserve Financing Model Regulation (#787)

On December 13, 2016, the NAIC Executive (EX) Committee and Plenary adopted the Term and Universal Life Insurance Reserve Financing Model Regulation (#787).

Process for Evaluating Qualified and Reciprocal Jurisdictions

On August 17, 2021, the NAIC Executive (EX) Committee and Plenary adopted revisions to the Process for Evaluating Qualified and Reciprocal Jurisdictions to incorporate provisions for terminating the status of a qualified jurisdiction or reciprocal jurisdiction and create a passporting process for reciprocal jurisdictions.

NAIC List of Reciprocal Jurisdictions

Summary of Findings and Determination for Reciprocal Jurisdictions

NAIC List of Qualified Jurisdictions

Summary of Findings and Determination for Qualified Jurisdictions

Certified Reinsurers

The Web page provides background regarding the certified reinsurer process, including details on the ReFAWG mission, Uniform Application, Passporting process, certified reinsurer timeline, and ReFAWG review of reinsurers. In addition, the Web page provides access to the listing of certified reinsurers within each state that has adopted Model Law #785/Model Regulation #786 and a current listing of certified reinsurers recommended for Passporting.

RTF Meeting (In lieu of 2021 Summer NM)

Public Webex Meeting
Tuesday, July 27, 2021
4:00 PM ET, 3:00 PM CT, 2:00 PM MT, 1:00 PM PT Expected Length of Call: 1.5 hrs.
Webex Link

This meeting is in lieu of meeting at the 2021 Summer National Meeting. The Task Force will consider the adoption of meeting minutes, receive working group reports, and discuss any other matters.


RTF Meeting (In lieu of 2021 Spring NM)

Public Webex Meeting
Tuesday, March 23, 2021
9:00 AM ET, 8:00 AM CT, 7:00 AM MT, 6:00 AM PT Expected Length of Call: 1 hr
Webex Link

This meeting is in lieu of the 2021 Spring National Meeting. The Task Force will consider the adoption of meeting minutes, receive working group reports, and discuss any other matters.


2019 REVISIONS TO THE CREDIT FOR REINSURANCE MODELS – STATE ADOPTION STATUS
Related NAIC Publications

Contacts

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


Jake Stultz
Senior Accounting and Reinsurance Policy Advisor
816-783-8481

Dan Schelp 
Chief Counsel, Regulatory Affairs
816-783-8027

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