Committees & Activities

Life Insurance and Annuities (A) Committee

The following task forces and working groups report to the Life Insurance and Annuities (A) Committee:

2014 Charges

  1. Monitor the activities of the Life Actuarial (A) Task Force.—Essential

  2. Oversee development of the principle-based reserving system.—Essential

  3. Review and revise, as necessary the Life Insurance Buyer’s Guide in conjunction with Appendix A of the Life Insurance Disclosure Model Regulation (#580).—Important

  4. Oversee changes and provide technical assistance as appropriate for the production of the Market Share Reports for the Top 125 Life and Fraternal Insurance Groups and Companies by State.—Essential

  5. Review the U.S. Securities and Exchange Commission (SEC) Life Settlements Task Force Staff Report and the U.S. Government Accountability Office (GAO) Report to the U.S. Senate Special Committee on Aging on Life Insurance Settlements and assess their effect on the functional state regulation of life settlements, if any, and make recommendations, as necessary, to the NAIC.—Important

  6. Appoint a Contingent Deferred Annuity (A) Working Group to develop NAIC guidelines and/or model bulletin that can serve as a reference for states interested in modifying their annuity laws to clarify their applicability to contingent deferred annuities (CDAs) and, as part of this work, review existing NAIC model laws and regulations applicable to consumer protection issues associated with CDAs.—Essential

  7. Appoint an ERISA Retirement Income (A) Working Group to work with representatives of the U.S. Department of Labor (DOL), the White House Council of Economic Advisors (CEA), the U.S. Department of the Treasure (Treasury) and any other appropriate federal agencies, in coordination with the NAIC Government Relations (EX) Leadership Council (GRLC), to consider possible options for easing plan sponsor concerns with the financial soundness of annuity providers as related to the DOL annuity safe harbor plan sponsor selection of annuity provider and fiduciary responsibility requirements.—Important

  8. Serve as the coordinating body with all of the NAIC technical groups with projects related to contingent deferred annuities (CDAs) (Delegated to the Contingent Deferred Annuity (A) Working Group).
    Essential

  9. Develop a work plan that would allow Committee members, interested regulators and interested parties to easily track, monitor and coordinate the progress of the NAIC technical groups working on issues identified in the Contingent Deferred Annuity (A) Working Group report and recommendations concerning contingent deferred annuities (CDAs). The work plan should include timelines and dates for expected completion of the work done by each NAIC technical group.—Essential

  10. Should undertake a study to determine if recommendations should be made to address unclaimed death benefits.—Essential

  11. Appoint a new group to review and consider revisions to the Annuity Disclosure Model Regulation (#245) to exempt SEC registered contingent deferred annuities (CDAs) and CDAs offered through ERISA retirement plans.? 2013 National Association of Insurance Commissioners 13

  12. Appoint a new group to review and consider revisions to the Suitability in Annuity Transactions Model Regulation (#275) to specifically reference its applicability to the sale of contingent deferred annuities (CDAs), including the one-time, four hour training and the product-specific training requirements.

  13. Appoint a new group to review and consider revisions to the Advertisements of Life Insurance and Annuities Model Regulation (#570) to specifically reference its applicability to contingent deferred annuities (CDAs).

  14. Appoint a new group to review and consider revisions to the Life Insurance and Annuities Replacement Model Regulation (#613) to specifically reference its applicability to contingent deferred annuities (CDAs).
Conference Call Calendar

NAIC conference calls & interim meetings are available on the NAIC Conference Call Calendar. See NAIC's revised policy statement on open meetings.

Go to the exposure draft index.

2015 Proposed Charges

Advance Materials

Life Insurance and Annuities (A) Committee
Conference Call
Tuesday, October 28, 2014
11:00 AM ET/10:00 AM CT

2014 Summer National Meeting
Louisville, KY
Sunday, August 17, 2014 2:003:30 p.m.
Kentucky International Convention Center
Room 101/104 Level 1

 

education & training events

There are no education or training events at this time.

documents and resources
Adopted NAIC Group CDA Charges
Report on the Results of the Principle - Based Reserving State Resource Survey
Joint Qualified Actuary (A/B/C) Subgroup
Valuation ManualAdopted August 17, 2012
Suitability Regulatory Guidance
Related NAIC Publications
Minutes for the four most recent NAIC National Meetings are available free for meeting attendees and members. Members may access minutes via StateNet. If you do not know your User ID or password, please contact the NAIC Help Desk.
Buyer's Guides to Fixed Deferred Annuities
Compendium of State Laws on Insurance Topics
Life and Health Actuarial Subscription
Life Insurance Buyer's Guide
Market Share Reports for Groups and Companies
Model Laws, Regulations and Guidelines
Suitability of Sales of Life Insurance and Annuities
Contacts
Media queries should be directed to the NAIC Communications Division at 816-783-8909 or news@naic.org.
Jolie H. Matthews
Senior Health Policy Advisor and Counsel
Phone: 202-471-3982
Fax: 816-460-7818
Jennifer R. Cook
Senior Health Policy Analyst and Counsel
Phone: 202-471-3986
Fax: 816-460-7483
Please see the current Committee List for a complete list of committee members.