NAIC EXPOSURE DOCUMENT INDEX
The following is a list of documents exposed by various work groups of the NAIC to the public. For additional information regarding these and other documents, their comment periods and pending actions – please visit the appropriate Committees & Activities page.
There are no exposure drafts at this time.
Exposure Proposed Scope Criteria for Liquidity Stress Test
Comment Letters on Scope of Insurers Subject to Liquidity Stress Test
Exposure Proposed Scope Criteria for Liquidity Stress Test
Comment Letters on Scope of Insurers Subject to Liquidity Stress Test
Comment Letters on Scope of Insurers Subject to Liquidity Stress Test
- ACLI Liquidity Stress Testing Comments 8-30-2018
- Liquidity Assessment Scope of Application Exposure Comments
- Academy MPTF Comment Letter on Scope Considerations
Comments due to Ani Verma and Elise Liebers by close of business Friday, August 31, 2018.
Comment Letters on Liquidity Stress Testing
- ACLI Liquidity Stress Testing Comments FINAL
- American Academy of Actuaries Liquidity Stress Testing Comments
- PRU MET MASS NYL AIG Liquidity Stress Testing Comments
Comment period open until COB Nov. 9, 2017
2018 Life Note 32 and New Note 33 CLEAN
2018 Life Note 32 and New Note 33 REDLINE
Draft Baseline Liquidity Data Blanks Proposal - Oct 12 2017 CLEAN
Draft Baseline Liquidity Data Blanks Proposal - Oct 12 2017 REDLINE
Comment Letters on Exposure Blanks Proposals
ND Draft Anti-Rebating Bulletin 10/4/19
ND Anti-Rebating Guideline 7/23/19
OECD AI Principles
Questions for Consideration:
1. Are the Principles put forward by the OECD the right ones for the insurance industry? Is anything missing?
2. Are the Principles consistent with state laws and regulations related to general and specific consumer protections and insurance regulatory requirements?
3. Are there additional ethical issues related to AI that are not covered by these Principles?
4. How might these Principles be worded differently or modified to better serve the insurance vertical while staying at the over-arching, umbrella level as discussed by the Working Group on its call on September 5, 2019, understanding that issues related to defining terms and implementation are outside of scope at this time?
Please send written comments to Denise Matthews, dmatthews@naic.org, by October 11, 2019.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
7-15-19 Draft #245 Index Revisions
3-7-19 Draft #245 Index Revisions
Comments due April 26, 2019
Index History from Allianz w/ cover ltr.
3-22-19 Liftik comment w/ 3 att
PREVIOUS DRAFTS and COMMENTS
6-5-18 Draft #245 Index Revisions
Comments requested by July 1
Comments Received
Draft of Revisions to the Suitability in Annuity Transactions Model Regulation (#275), Draft Dated Nov. 5, 2019
For comment until close of business Friday, June 21, 2019
- 5-20-19 draft revisions MO 580
- 5-16-19 overview sample form only
- 5-16-19 overview sample form--filled in.
MO580 10-9-18 draft for comment by 12-10-18
Comments
CEJ 11-7-18 comments on 10-9-18 draft
7-25-18 Draft Revisions to Model #580
7-25-18 Draft Revisions to Model #582
Comments are due close of business Aug. 31, 2018
Comments Recieved
AG 49 Draft Revisions
Please send comments to Reggie Mazyck by close of business on October 30, 2019.
Mortality Improvement Smoothed Rates 2019
Individual Life Insurance Mortality Improvement Scale Recommendation-for Use with AG 38 and VM-20
Please send comments to Reggie Mazyck by close of business on Oct. 2, 2019.
The Aggregation Method presentation from the Summer Meeting and calculation examples spreadsheet are posted on the Industry tab of the NAIC website and are accessible via the links below. Please send comments to Reggie Mazyck by September 27, 2019.
2020 GRET Recommendation Letter
Generally Recognized Expense Tables – Please send comments to Reggie Mazyck by September 9, 2019.
Amendment Proposal 2019-56 Revisions to VM-51 Data Elements for AUW – Comments due to Reggie Mazyck by October 7, 2019.
APF 2019-56 Revised Data Elements VM51 (Word)
Appendix- VM51 Data Elements markup simple (Word)
Please note that a version of 2019-56 reflecting the potential adoption of edits to amendment 2018-59 will be posted when it becomes available.
Please send comments to Reggie Mazyck by close of business on May 12, 2019.
Please send comments to Reggie Mazyck by close of business May 13, 2019.
APF 2019-17
APF 2019-24
Please send comments to Reggie Mazyck by close of business on March 25, 2019.
APF 2019-03
Please send comments to Reggie Mazyck by close of business on March 14, 2019.
APF 2018-59
Please send comments to Reggie Mazyck by close of business on January 31, 2019.
Academy Discussion Paper on Need for VM-20 Guidance for YRT Reinsurance Premiums
Please send comments to Reggie Mazyck by close of business on June 11, 2018.
Academy AUW Questions & Commentary
Please send comments to Reggie Mazyck by close of business on January 29, 2018.
VM Questions and Responses
Comments should include recommendations on a suitable place for housing the Question and Response document. Please send comments to Reggie Mazyck by close of business on Oct. 7, 2017.
Simplified Issue Report
Please send comments to Reggie Mazyck by close of business on September 21, 2017.
PBR Questions for LATF Consideration - Revised 2/2/17
Please send comments to Reggie Mazyck by close of business on March 10, 2017.
There are no exposure drafts at this time.
The IUL Illustration Subgroup is requesting comments due to Reggie Mazyck by November 12, 2019 on the following questions related to IUL illustrations:
1. Should the effective date for new policies be the later of 5 months after LATF adoption or 3 months after NAIC Executive/Plenary adoption?
2. Should the revised guidelines be in place for inforce illustrations for policies sold before the effective date for new policies?
3a. Does the approach of having the disciplined current scale earned rate including or excluding the Supplemental Option Budget lead to the result of the multiplier product illustrating about the same as a non-multiplier product?
3b. If neither of the approaches mentioned in 3a leads to this result, is there an alternative approach that leads to this result such as providing explicit guidance in Section 4?
The IUL Illustration Subgroup is requesting comments to Reggie Mazyck by Sept. 6, 2019 on the following questions related to IUL illustrations:
- Should a product with a multiplier feature illustrate a higher scale than a product without multiplier features?
- To what extent should the 145% disciplined current scale factor apply to charges supporting bonuses and multipliers?
IUL Illustration Menu of Options
Please send comments to Reggie Mazyck by close of business on June 28, 2019.
Securian/Penn Mutual/Mutual of Omaha comments on items 13-16
Academy comments on items 13-16
Global Atlantic comments on items 13-16
Harrison Law comments on items 13-16
Pac Life comments on items 13-16
IUL Questions
IUL Questions Combined Comments - Updated 4/1/19
Please send comments to Reggie Mazyck by close of business on March 8, 2019.
There are no exposure drafts at this time.
Exposure of proposed approach to incorporating an RBC charge for longevity risk
Comments should be sent electronically to Dave Fleming by COB Thursday, May 23, 2019.
Exposure of LR027 for VA Framework v.02.06.19
Comments should be sent electronically to David Fleming by COB Wednesday, March 6, 2019.
Re-Exposure of Proposed Revisions to Actuarial Guideline XLIII-CARVM for Variable Annuities (AG 43)
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 6, Standard Projection Requirements
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 7, Alternative Methodology, and associated edits to Section 3, Reserve Methodology
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 8, Scenario Generation
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Re-Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Sections 1 through 5
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Definitions of Terms in Requirements (VM-01)
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 9
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of revised AG 43
Comments should be sent electronically to David Fleming by COB Friday November 9, 2018.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Varialble Annuities (VM-21), Sections 1 through 5
Comments should be sent electronically to David Fleming by COB Monday November 19, 2018.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Sections 11 and 12
Comments should be sent electronically to David Fleming by COB Monday November 19, 2018.
Draft Committee 2019 Revised Charges
Also see the Master Issue Resolution Document (IRD) (Updated 10/1/10)
There are no exposure drafts at this time.
LTC ERF Revisions DRAFT Forms
LTC ERF Revisions DRAFT Instructions
Submit comments to Eric King by Dec. 11, 2019.
Revised Draft Model #170 — 10-17-18
(To be considered for adoption by Regulatory Framework (B) Task Force at Fall National Meeting)
Draft Revisions to the Accident and Sickness Insurance Minimum Standards Model Act (#170)
(07/23/2018)
ERISA Handbook OCTOBER 11, 2018 Draft
Comments requested by October 26, 2018
ERISA Handbook Draft Revisions 7-20-18 (footnotes corrected 8/16/18)
Comments requested by 9-28-18
There are no exposure drafts at this time.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
Comments due to Aaron Brandenburg by close of business, Oct. 31.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
Predictive Model White Paper Exposed 10-15-19
Changes made to White Paper 10-14-19
Comments due to Kris DeFrain by Friday, Nov. 22.
On its call on May 16, the Actuarial Opinion (C) Working Group exposed Section IV “Guidance on qualification documentation” of the draft Regulatory Guidance on Property and Casualty Statutory Statements of Actuarial Opinion, Actuarial Opinion Summaries, and Actuarial Reports for the Year 2019 (2019 Regulatory Guidance):
Section IV “Guidance on qualification documentation”
Note that Section IV reflects P/C Appointed Actuary qualification documentation requirements currently included in the exposed 2019 P/C Statement of Actuarial Opinion instructions: 2019 P/C Statement of Actuarial Opinion instructions. Changes made to the instructions (expected to be completed by the end of June) may require similar changes to the 2019 Regulatory Guidance.
The documents are exposed for a 53-day comment period, with comments to be submitted to Kris DeFrain (NAIC) by Friday, July 8.
There are no exposure drafts at this time.
There are no current exposure drafts at this time.
There are no exposure drafts at this time.
Comments due to Sara Robben by October 20, 2019.
Overview of Travel MCAS Proposal Review and Rejection
Comment Deadline - July 25, 2018
There are no exposure drafts at this time.
Health MCAS Adopted Materials - May 2, 2019
Private Flood MCAS Proposal Draft
Health MCAS Interim Meeting Results and Drafts
- Health MCAS Meeting Recap
- Health MCAS Blanks Draft
- Health MCAS Data Call and Definitions Draft
- Health MCAS FAQ Draft
Comments:
- Comments from ACLI on CEJ Proposal (8/11/2017)
- Comments from CEJ in response to ACLI (9/27/2017)
- Comments from ACLI on CEJ Proposal (10/20/2017)
- Comments from CEJ in response to ACLI (10/29/2017)
- Comments from CEJ in response to ACLI (11/13/2017)
- Comments from ACLI (11/13/2017)
New Farmowners Standardized Data Requests for Inclusion in the Reference Documents of the Market Regulation Handbook
Comments Due Date: December 2, 2019
New Limited Long-Term Care Chapter 26A for Inclusion in the Market Regulation Handbook
Comments Due Date: December 2, 2019
New Standardized Data Requests for Inclusion in the Reference Documents of the Market Regulation Handbook
The Workers’ Compensation In Force SDR was adopted by the Working Group on its Aug. 29, 2019 call.
New Draft Travel Insurance Model Act (#632)-Related Examination Standards for Inclusion in the Market Regulation Handbook
The Travel Insurance Examination Standards October 3, 2019 draft was adopted by the Working Group on its October 9, 2019 call, with additional revisions discussed during that call.
- Travel Insurance Examination Standards, October 3, 2019, Draft (Track Changes Version)
- Travel Insurance Examination Standards, October 3, 2019, Draft (Track Changes Accepted)
- October 3, 2019, Summary of Comments and Changes to Travel Insurance Related Exam Standards
- Travel Insurance Examination Standards, August 29, 2019, Draft Clean (This is a Track Changes Accepted Version of the August 26, 2019 Draft)
- Travel Insurance Examination Standards, August 29, 2019, Draft
- Summary of changes to August 26, 2019 Draft
- Travel Insurance Examination Standards, May 22, 2019, Draft
- Summary of Travel Insurance Examination Standards, May 22, 2019
Cybersecurity (EX) Task Force Referral to Market Conduct Examination Standards (D) Working Group
The following items have been tabled by the Working Group until further notice.
Draft New Health Reform Market Conduct Examination Standards for Nondiscrimination for inclusion in the Market Regulation Handbook
Aug. 10, 2015 Draft
Draft New Health Reform Market Conduct Examination Standards for Nondiscrimination for inclusion in the Market Regulation Handbook
Aug. 3, 2015 Draft
Section D. Standards of Chapter 14-Sampling of the Market Regulation Handbook 9/18/14
There are no exposure drafts at this time.
The following items are exposed for comment. Please submit comments to the appropriate NAIC staff support contact by the deadline indicated.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
Relocated from the Producer Licensing (EX) Working Group page
Limited Lines - Pet Insurance
During the 2016 Fall National Meeting the Producer Licensing (EX) Working Group received a presentation from Nationwide Insurance regarding Limited Line Pet Insurance. The presentation provides a proposal from Nationwide Insurance asking that the Working Group revise the Uniform Licensing Standards - #37 Standards for Non-Core Limited Lines to remove Pet Insurance as a limited line. An open comment period concerning this proposal was distributed with a deadline of January 20th. Comments received can be found listed below. The Working Group will discuss the comments and determine appropriate direction for this proposal.
Comments:
- Tennessee DOI
- Washington DOI
- Puerto Rico DOI
- Aspen Insurance
- Center for Economic Justice
- Great Plains SPCA
- Humane Society
- Consumer - Lowry
NAIC CE Classroom Course Recommendation
(Adopted by PLWG on May 16, 2016)
State Licensing Handbook
The Producer Licensing (EX) Working Group extended the biennial review of the handbook so Working Group members could review all 30 chapters for any additional revisions.
Please note: The Table of Contents and Appendix were pulled from the draft document as they are not confirmed until revisions have been adopted. In addition, any technical edits will not be shown in the draft document. All technical edits will be completed at the NAIC prior to publication.
Below is the adopted revisions to the Handbook adopted by the Producer Licensing (EX) Task Force. The revisions will be presented to the EX Committee at the 2016 Spring NAIC National Meeting.
Revisions:
- State Licensing Handbook Revisions (W/Track Changes)
During the 2015 Fall National Meeting the Uniform (EX) Subgroup presented the Producer Licensing (EX) Working Group with a draft of the CE Classroom Course Recommendations. The comment period has been opened until December 11, 2015. The Working Group will hold a conference call prior to the 2016 Summer NAIC National Meeting to discuss and potentially adopt.
State Licensing Handbook Review
The Producer Licensing Uniformity (D) Working Group has been given the charge to review the State Licensing Handbook. In order to complete this charge by the Fall National Meeting, the Working Group will be conducting the review chapter by chapter. The Working Group will split out the review process into sections consisting of five chapters for each review period. The chapters for review and the deadline for comment on each can be found attached below. Any comments received will be posted as they are received.
The Working Group will hold multiple conference calls to complete the review process. The conference call dates and registration link for each conference call has posted below. The Working Group will review each chapter and adopt revisions before moving to the next. The goal is for the Working Group to present the updated version of the handbook to the Producer Licensing (D) Task Force by the end of October.
CONFERENCE CALL DATES REGISTRATION LINKS
- Wednesday, August 21, 2019 at 3 pm EST http://dpregister.com/10134469
- Thursday, August 29, 2019 at 3 pm EST http://dpregister.com/10134473
- Thursday, September 12, 2019 at 3 pm EST http://dpregister.com/10134476
- Thursday, September 26, 2019 at 3 pm EST http://dpregister.com/10134478
- Thursday, October 10, 2019 at 3 pm EST http://dpregister.com/10134477
- Thursday, October 24, 2019 at 3 pm EST http://dpregister.com/10134487
- Wednesday, October 30, 2019 at 3 pm EST http://dpregister.com/10134475
CHAPTERS & DEADLINES
- Chapters 1 – 5
- Chapters 6-10
- Chapters 11-15 (Comment Deadline Monday, August 19, 2019)
- Chapters 16-20 (Comment Deadline Friday, August 30, 2019)
- Chapters 21-25 (Comment Deadline Friday, September 13, 2019)
- Chapters 26-30 (Comment Deadline Friday, September 27, 2019)
COMMENTS RECEIVED:
- No comments at this time.
REDLINED CHAPTERS:
NAIC Uniform Application
The NAIC Uniform Applications were adopted by the Market Regulation and Consumer Affairs (D) Committee at the 2018 NAIC Summer National Meeting. At this time the applications have not been presented to the NAIC Executive Committee pending an additional review and discussion of the revisions.
Continuing Education Reciprocity Agreement
The Working Group is reviewing the Continuing Education Reciprocity (CER) Agreement. The NAIC's General Counsel has advised that a revision of the agreement would not be feasible due to the date of the CER Agreement and inaccurate/dated information it contains. The decision is that the Working Group will create a new CER Agreement. The first draft of the 2019 CER Agreement was exposed on March 29, 2019. The Working Group will continue to review and accept comment until the Agreement has been fully reviewed and a uniform decision has been adopted.
Draft 1 - Version 3.29.19
Comments Received By 4.16.19
Summary of Changes Made during the 4.16.19 Conference Call
Draft 2 – Version 4.17.19
Comments Received (Deadline for Draft 2)
Draft 2 – Version 5.15.19
There are no exposure drafts at this time.
There are no exposure drafts at this time.
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There are no exposure drafts at this time.
Blanks (E) Working Group
Items Received for Comment
Last Updated October 22, 2019
Please address comment letters to Jacob Garn, Chair of the Blanks (E) Working Group, and direct to Mary Caswell and Calvin Ferguson.
| Ref No. | Description | Comment Deadline |
| Blanks Procedures | Modify the Blanks Procedures to reflect that the Blanks (E) Working Group will be conducting its business exclusively through conference calls as it will not be meeting at the national meetings in the foreseeable future. | 11/22/2019 |
| 2019-25BWG | Modify the instructions for Column 10, Schedule F, Part 3 – Property and Schedule F, Part 2 – Life/Fraternal Workers’ Compensation Carve-Out supplement, removing instruction to exclude adjusting other reserves from the column. Add instructions to include those with the defense and cost containment reserves. Add a new instruction for Column 12 for the same schedules. Add crosschecks to Schedule P, Part 1. | 11/22/2019 |
| 2019-26BWG | Add instruction and crosscheck for Line 34 on the Analysis of Operations by Lines of Business – Summary. Add instruction for Column 5 – Indexed Life on the Analysis of Operations by Lines of Business – Individual Life. Add clarifying instruction to the Analysis of Operations by Lines of Business for Individual Life and Group Life regarding reporting consistent with policy type language in the contract and reporting of policies issued with secondary guarantees that have expired. | 11/22/2019 |
| 2019-27BWG | Remove the alphabetic index from inclusion at the back of the annual statement blank, instructions and Blanks (E) Working Group Web page. | 11/22/2019 |
Exposure Drafts Outstanding
Statutory Accounting Principles (E) Working Group
Last Updated 8/6/2019
Please address comment letters to Dale Bruggeman, Chair of the Statutory Accounting Principles (E) Working Group, and direct to Julie Gann, Robin Marcotte, Jim Pinegar, Fatima Sediqzad and Jake Stultz.
| SUBSTANTIVE AND NONSUBSTANTIVE EXPOSURES | |||
|---|---|---|---|
| Ref No. | Issue Paper/ SSAP No./ Appendix | Title | Description |
| EXPOSURES with COMMENT DEADLINE of OCTOBER 11, 2019 | |||
| 2017-28 | SSAP No.61R | Reinsurance Credit – Informal Life and Health Reinsurance Drafting Group Update and Recommendations | Exposed revisions to the SSAP No. 61R disclosure and Appendix A-791 to expand the question and answer section regarding the applicability of Appendix A-791, treatment of contracts subject to the medical loss ratio and an Appendix A-791 question and answer regarding the treatment of group term life yearly renewable term (YRT) reinsurance. |
| 2018-26 |
SSAP No. 5R |
SCA Loss Tracking – Accounting Guidance | Exposed revisions require a financial commitment or guarantee for a subsidiary, controlled or affiliated (SCA) entity to be recognized as a noncontingent guarantee liability. |
| 2018-38 | SSAP No. 55 | Prepaid Providers | Exposed revisions emphasize existing guidance that loss and loss adjusting expense liabilities are established regardless of payments to third parties (except for capitated health claim payments). The liabilities are not recognized as paid until the losses are paid to claimants or claims are adjusted. Prepayments to third party administrators, which are not for claims or loss adjusting expense, are “miscellaneous underwriting expenses.” The revisions also added a reference to SSAP No. 84 regarding prepayments to providers. |
| 2019-04 | SSAP No. 32 Issue Paper |
Investment Classification Project – Preferred Stock | Exposed an Issue Paper to revise the definitions, measurement and impairment guidance for preferred stock pursuant to the investment classification project. |
| 2019-08 | SSAP No. 51R SSAP No. 52 |
Reporting Deposit-Type Contracts | Exposed agenda item with a request for comments, on the reporting of insurance contracts that do not have mortality or morbidity risk with questions and issues in response to information received from the prior exposure. Directed notification of the exposure with a request for comments to the Financial Stability (EX) Task Force and the Life Actuarial (A) Task Force. |
| 2019-12 | SSAP No. 68 SSAP No. 97 |
ASU 2014-17, Business Combinations, Pushdown Accounting> | Exposed revisions assess ASU 2014-17, Business Combinations – Pushdown Accounting for statutory accounting with a request for comments on whether pushdown shall be rejected, permitted for noninsurance entities, or permitted only for U.S. Securities and Exchange Commission (SEC) registrants. The exposure also clarifies that goodwill resulting from an insurance reporting entity’s acquisition of an SCA when pushdown is applied shall be captured in the goodwill admittance limitation. |
| 2019-14 | SSAP No. 97 | Allocation of Goodwill | Exposed revisions require assignment of purchase price and goodwill to entities within downstream holding companies with disclosure of the allocation of goodwill. |
| 2019-18 | SSAP No. 86 | Other Derivatives | Re-exposed revisions clarify that other derivatives not used in hedging, income generation or replication transactions shall be reported at fair value and do not qualify as admitted assets. |
| 2019-19 | None | SIRI – Equity Interests | Exposed revisions clarify what should be captured in SIRI Line 13: 10 Largest Equity Interests with a proposal that a look-through should only occur for non-diversified funds. The revisions also exclude Securities Valuation Office (SVO)-Identified Bond Exchange-Traded Funds (ETFs) and SVO-Identified investments with underlying characteristics of fixed-income investments from this equity interrogatory. |
| 2019-20 | SSAP No. 2R SSAP No. 103R |
Rolling Short-Term Investments | Exposed revisions incorporate additional principle concepts in classifying investments as cash equivalents or short-term investments. |
| 2019-21 | SSAP No. 43R | SSAP No. 43R – Equity Instruments | Exposed revisions exclude collateralized fund obligations, and similar structures that reflect underlying equity interests, from the scope of the statement. The revisions also prevent existing equity assets from being repackaged as securitizations and reported as long-term bonds. |
| 2019-22 | SSAP No. 103R | Wash Sale Disclosures | Exposed revisions clarify that only wash sales that cross reporting period-end dates shall be subject to the wash sale disclosure. |
| 2019-23 | SSAP No. 97 | Going Concern | Exposed revisions clarify that if an unalleviated going concern is noted in the audited financial statements or audit opinion, the SCA investment shall be nonadmitted. |
| 2019-24 | SSAP No. 71 | Commission | Exposed revisions clarify levelized commissions guidance and provide additional direction regarding commissions that are based on policy persistency. The revisions also clarify that recognition of commission expense is accrued based on experience to date. |
| 2019-26 | Appendix A | A-785 – Updates for Covered Agreement | Exposed revisions incorporate changes related to the “Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance” (Covered Agreement) adopted to the Credit for Reinsurance Model Law (#785) and the Credit for Reinsurance Model Regulation (#786). |
| 2019-27EP | SSAP No. 62R SSAP No. 86 SSAP No. 97 |
AP&P Manual Editorial and Maintenance Update | Exposed editorial revisions to SSAP Nos. 62R, 86 and 97. |
| 2019-28 | SSAP No. 100R | ASU 2019-05, Targeted Transition Relief | Exposed revisions reject ASU 2019-05, Targeted Transition Relief for statutory accounting. |
| 2019-29 | SSAP No. 68 SSAP No. 97 |
ASU 2019-06, Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities | Exposed revisions reject ASU 2019-06, Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities for statutory accounting. |
| 2019-30 | Appendix D | ASU 2019-03, Updating the Definition of Collections | Exposed revisions reject ASU 2019-03, Updating the Definition of Collections as not applicable for statutory accounting. |
| 2019-31 | Appendix D | ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made | Exposed revisions reject ASU 2019-31, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made as not applicable for statutory accounting. |
The Capital Adequacy (E) Task Force exposed the following for a 30-day comment period. Please submit comments to Jane Barr by COB, Friday Nov. 8, 2019.
When submitting comments please consider the questions following the referrals.
- Supplemental Investment Risk Interrogatory (SIRI) – Line 13 Equity Interests
- Should the Capital Adequacy Task Force provide comments back to the Statutory Accounting Principles (E) Working Group regarding this change?
- NAIC Designations for Schedule D, Part 2- - Section 2 – Common Stocks
- RBC Charges for Funds and Comprehensive Funds
- Structured Notes
- Are these changes appropriate for RBC?
- What is the best way for the Task Force to move forward?
- What resources should the Task Force consider for research and analysis of these investments?
The Health Risk-Based Capital (E) Working Group exposed the following for a 30-day comment period. Please submit comments to Crystal Brown by COB, Friday Nov. 20, 2019.
There are no exposure drafts at this time.
Potential Further Work on Life Growth Operational Risk
Comments should be sent electronically to Dave Fleming by COB Wednesday, November 20, 2019.
Exposure of a proposal to update the RBC charge for unaffiliated common stock supporting long-horizon contractual commitments.
Comments should be sent electronically to Dave Fleming by COB Friday, September 20, 2019.
Re-exposure of 2019-10-L
Comments should be sent electronically to Dave Fleming by COB Friday, June 13, 2019.
Re-exposure of 2019-10-L
Comments should be sent electronically to Dave Fleming by COB Friday, May 31, 2019.
Exposure of proposed changes to the life RBC instructions as recommended by the Variable Annuities Capital and Reserve (E/A) Subgroup
Comments should be sent electronically to Dave Fleming by COB Tuesday, May 7, 2019.
Re-exposure of 2018-18-L with comments specifically requested on LR024 and LR026
Comments should be sent electronically to Dave Fleming by COB Thursday, May 9.
2018-11-L-Life RBC Tax Proposal
Please send comments to Dave Fleming by the close of business, June 5, 2018. (Please consider whether a printed copy in its entirety is needed as there are 161 pages in the document.)
Asset Valuation Reserve Proposal
Worksheet Showing Factors:
AVR RBC 2017 and Proposed 2018 Factors
Please send comments to Dave Fleming by the close of business, June 5, 2018.
Exposure Drafts Still Open For Consideration with Comment Received:
- American Academy of Actuaries (AAA) proposed instructions for the C-3 Phase I proposal
- Modified C-3 Phase 3 Scope Proposal
- Comment Letters Received:
- AAA Draft C-3 Instructions and Appendices
- Comment Letters Received:
- AAA September 2009 Report on RBC C3 Requirements for Life Products
Please send any comments on the exposure drafts to Dave Fleming.
There are no exposure drafts at this time.
The following is exposed for a 14-day comment period. Please submit comments to Eva Yeung by COB Friday Nov. 22, 2019.
There are no exposure drafts at this time.
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As discussed on its 9/12/19 conference call, the Technical Group agreed to expose the following revisions to Handbook guidance for a 30-day comment period ending October 14, 2019.
- Troubled Insurance Companies
- Management Letters
- Exhibit V – Overarching Prospective Risk Assessment
- Exhibit AA – Summary Review Memorandum
Please see the document attached for the exposed items. A cover sheet has been included assist in determining the location of the each revision within the document. These documents will also be available on the Technical Group’s webpage. Submit comments to Bailey Henning.
There are no exposure drafts at this time.
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On November 5, 2019, the Qualified Jurisdiction (E) Working Group of the Reinsurance (E) Task Force exposed the evaluations as Reciprocal Jurisdictions for the three Qualified Jurisdictions that are not subject to Covered Agreements, for a 30-day public comment period ending Thursday, December 5, 2019. Comments should be directed to Jake Stultz and Dan Schelp.
- Evaluation for Bermuda as a Reciprocal Jurisdiction
- Evaluation for Japan as a Reciprocal Jurisdiction
- Evaluation for Switzerland as a Reciprocal Jurisdiction
On October 7, 2019, the Qualified Jurisdiction (E) Working Group of the Reinsurance (E) Task Force exposed the re-evaluations for the four Qualified Jurisdictions that are not subject to Covered Agreements, for a 30-day public comment period ending Wednesday, November 6, 2019. Comments should be directed to Jake Stultz and Dan Schelp.
- Re-evaluation for Bermuda as a Qualified Jurisdiction
- Re-evaluation for Japan as a Qualified Jurisdiction
- Re-evaluation for Switzerland as a Qualified Jurisdiction
Comment Letters
On September 11, 2019, the Reinsurance (E) Task Force exposed proposed revisions to the Reinsurance Ceded section of the NAIC Accreditation Program Manual to be exposed for a 30-day public comment period ending Friday, October 11, 2019. The Task Force also requests comments on the effective date of the new section of the accreditation standard. The Task Force recommends setting October 1, 2022 as the effective date for this accreditation standard, with reviews of this part of the accreditation standard to begin on January 1, 2023. October 1, 2022 is the date where preemption of U.S. state laws may begin in accordance with the Covered Agreement, Article 9(4). Comments should be directed to Jake Stultz and Dan Schelp.
Comment Letters
- American Council of Life Insurers
- Lloyd's America
- New York Life and Northwestern Mutual
- Reinsurance Association of America, the American Property and Casualty Insurance Association and the National Association of Mutual Insurance Companies
- Texas Department of Insurance
On September 4, 2019, the Qualified Jurisdiction (E) Working Group of the Reinsurance (E) Task Force exposed proposed revisions to the Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions and the re-evaluations for the four Qualified Jurisdictions that are subject to Covered Agreements, for a 30-day public comment period ending Friday, October 4, 2019. Comments should be directed to Jake Stultz and Dan Schelp.
- Updates to the Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions
- Re-evaluation for France as a Qualified Jurisdiction
- Re-evaluation for Germany as a Qualified Jurisdiction
- Re-evaluation for Ireland as a Qualified Jurisdiction
- Re-evaluation for the United Kingdom as a Qualified Jurisdiction
Comment Letters
- American Council of Life Insurers
- Bermuda International Long Term Insurers and Reinsurers
- Central Bank of Ireland
- General Insurance Association of Japan
- Germany (BaFin)
- Lloyd's America
- Reinsurance Association of America, America Property and Casualty Insurance Association, National Association of Mutual Insurance Companies
- Swiss Federal Department of Finance
On November 5, 2019, the Qualified Jurisdiction (E) Working Group of the Reinsurance (E) Task Force exposed the evaluations as Reciprocal Jurisdictions for the three Qualified Jurisdictions that are not subject to Covered Agreements, for a 30-day public comment period ending Thursday, December 5, 2019. Comments should be directed to Jake Stultz and Dan Schelp.
- Evaluation for Bermuda as a Reciprocal Jurisdiction
- Evaluation for Japan as a Reciprocal Jurisdiction
- Evaluation for Switzerland as a Reciprocal Jurisdiction
On October 7, 2019, the Qualified Jurisdiction (E) Working Group of the Reinsurance (E) Task Force exposed the re-evaluations for the four Qualified Jurisdictions that are not subject to Covered Agreements, for a 30-day public comment period ending Wednesday, November 6, 2019. Comments should be directed to Jake Stultz and Dan Schelp.
- Re-evaluation for Bermuda as a Qualified Jurisdiction
- Re-evaluation for Japan as a Qualified Jurisdiction
- Re-evaluation for Switzerland as a Qualified Jurisdiction
Comment Letters
On September 4, 2019, the Qualified Jurisdiction (E) Working Group of the Reinsurance (E) Task Force exposed proposed revisions to the Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions and the re-evaluations for the four Qualified Jurisdictions that are subject to Covered Agreements, for a 30-day public comment period ending Friday, October 4, 2019. Comments should be directed to Jake Stultz and Dan Schelp.
- Updates to the Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions
- Re-evaluation for France as a Qualified Jurisdiction
- Re-evaluation for Germany as a Qualified Jurisdiction
- Re-evaluation for Ireland as a Qualified Jurisdiction
- Re-evaluation for the United Kingdom as a Qualified Jurisdiction
Comment Letters
- American Council of Life Insurers
- Bermuda International Long Term Insurers and Reinsurers
- Central Bank of Ireland
- General Insurance Association of Japan
- Germany (BaFin)
- Lloyd's America
- Reinsurance Association of America, America Property and Casualty Insurance Association, National Association of Mutual Insurance Companies
- Swiss Federal Department of Finance
Survey on Effect of QJ Implementation of Solvency II
Exposure by Qualified Jurisdiction (E) Working Group. Submit survey responses to Matthew Todd and Dan Schelp by Wednesday, December 31, 2016. [Note: the previous survey response deadline of Wednesday, November 23, 2016, has been extended.]
Comments on the below exposure are due by the close of business Friday, January 13, 2017, and should be directed to Dan Schelp or Matt Todd.
- Qualified Jurisdiction (E) Working Group report regarding European Union member state implementation of Solvency II and the potential impact on the qualified jurisdiction status of France, Germany, Ireland and the United Kingdom.
There are no exposure drafts at this time.
The following documents have been re-exposed for a public comment period ending Friday, November 8, 2019. Please send comment letters to Becky Meyer bmeyer@naic.org:
- 10-18-19 Best Practices-Risk Retention Groups
- 10-18-19 NAIC Uniform RRG Notice and Registration Form
- 10-18-19 Risk Retention Groups - FAQ
At the 2019 Summer National Meeting, the Risk Retention Group (E) Task Force exposed the following documents for a public comment period ending Friday, September 6, 2019. Please send comment letters to Becky Meyer at bmeyer@naic.org.
Amendment to the Purposes and Procedures Manual of the NAIC Investment Analysis Office (P&P Manual) to Rename the U.S. Direct Obligations/Full Faith and Credit Exempt List to the NAIC U.S. Government Money Market Fund List and Discontinue the NAICBond Fund List
Comments should be sent electronically to Charles Therriault and Denise Genao-Rosado by COB Monday, December 16, 2019.
Amendment to the Purposes and Procedures Manual of the NAIC Investment Analysis Office (P&P Manual) to Clarify That the Sovereign Rating Limitation Applies to Filing Exemption (FE)
Comments should be sent electronically to Charles Therriault and Denise Genao-Rosado by COB Monday, December 16, 2019.
Amendment to the Purposes and Procedures Manual of the NAIC Investment Analysis Office (P&P Manual) to Add Ground Lease Financing Transactions as New Asset Class
Comments should be sent electronically to Charles Therriault and Denise Genao-Rosado by COB Friday, November 22, 2019.
Exposure of proposed approach to incorporating an RBC charge for longevity risk
Comments should be sent electronically to Dave Fleming by COB Thursday, May 23, 2019.
Exposure of LR027 for VA Framework v.02.06.19
Comments should be sent electronically to David Fleming by COB Wednesday, March 6, 2019.
Re-Exposure of Proposed Revisions to Actuarial Guideline XLIII-CARVM for Variable Annuities (AG 43)
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 6, Standard Projection Requirements
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 7, Alternative Methodology, and associated edits to Section 3, Reserve Methodology
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 8, Scenario Generation
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Re-Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Sections 1 through 5
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Definitions of Terms in Requirements (VM-01)
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Section 9
Comments should be sent electronically to David Fleming by COB Tuesday, January 22, 2019.
Exposure of revised AG 43
Comments should be sent electronically to David Fleming by COB Friday November 9, 2018.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Varialble Annuities (VM-21), Sections 1 through 5
Comments should be sent electronically to David Fleming by COB Monday November 19, 2018.
Exposure of Proposed Revisions to Requirements for Principle-Based Reserves for Variable Annuities (VM-21), Sections 11 and 12
Comments should be sent electronically to David Fleming by COB Monday November 19, 2018.
Comment letters should be emailed to Becky Meyer at bmeyer@naic.org prior to Friday, September 6.
Revisions to the Self-Evaluation Guide/Interim Annual Review (Part D)
To provide consistency with revisions to Part D of the Review Team Guidelines adopted at the Summer meeting.
Revisions to Part B3: Procedures for Troubled Companies
To align Review Team Guidelines with revisions made to the Troubled Insurance Company Handbook.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
There are no exposure drafts at this time.
There are no exposure drafts at this time.