Valuation of Securities (E) Task Force
Conference Call
Wed., Feb. 22, 2017
2:00 p.m. ET | 1:00 p.m. CT | 12:00 p.m. MT / 11:00 a.m. PT

  • P&P Manual with REAWG Recommendations[PDF | WORD]

Please send comment letters to Charles Therriault, Robert Carcano, and Marly Kurtzer by April 8, 2017.


  • P&P Manual Amendment to Remove the 5* (Five Star) Certification Process [PDF | WORD]

Please send comment letters to Charles Therriault, Robert Carcano, and Marly Kurtzer by April 23, 2017.

Adopted Interim Changes to the Purposes & Procedures Manual of the Investment Analysis Office

VOS Task force Referrals to Other Groups

Related NAIC Publications

Contacts

Valuation of Securities (E) Task Force

 

The mission of the Valuation of Securities (E) Task Force is to provide regulatory leadership and expertise to establish and maintain all aspects of the NAIC’s credit assessment process for insurer-owned securities and produce insightful and actionable research and analysis regarding insurer investments.

Valuation of Securities (E) Task Force

2017 Charges

  1. The Valuation of Securities (E) Task Force will:
    1. Review and monitor the operations of the NAIC Securities Valuation Office (SVO) and the NAIC Structured Securities Group (SSG) to ensure they continue to reflect regulatory objectives.

    2. Maintain and revise the Purposes and Procedures Manual of the NAIC Investment Analysis Office (P&P Manual) to provide solutions to investment-related regulatory issues for existing or anticipated investments.

    3. Monitor changes in accounting and reporting requirements resulting from the continuing maintenance of the Accounting Practices and Procedures Manual, as well as financial statement blanks and instructions, to ensure that the P&P Manual continues to reflect regulatory needs and objectives.

    4. Consider whether improvements should be suggested to the measurement, reporting and evaluation of invested assets by the NAIC as the result of: 1) newly identified types of invested assets; 2) newly identified investment risks within existing invested asset types; or 3) elevated concerns regarding previously identified investment risks.

    5. Identify potential improvements to the credit filing process, including formats and electronic system enhancements.

    6. Provide effective direction to the NAIC's mortgage-backed securities modeling firms and consultants.

    7. Study the impact to the different areas of the NAIC, and to the state-based insurance regulatory structure, of modifying the existing NAIC credit assessment framework by changing the NAIC designations and NAIC designation categories, as well as the impact of adopting asset-category-specific credit assessment frameworks.

    8. Coordinate with other NAIC working groups and task forces—including, but not limited to, the Capital Adequacy (E) Task Force, the Investment Risk-Based Capital (E) Working Group, the Statutory Accounting Principles (E) Working Group and the Blanks (E) Working Group—to formulate recommendations and to make referrals to such other NAIC regulator groups to ensure expertise relative to investments, or the purpose and objective of guidance in the P&P Manual, is reflective in the guidance of such other groups and that the expertise of such other NAIC regulatory groups and the objectives of their guidance is reflected in the P&P Manual.