Financial Condition (E) Committee

The Mission of the Financial Condition (E) Committee is to be the central forum and coordinator of solvency-related considerations of the NAIC relating to accounting practices and procedures, blanks, valuation of securities, the Insurance Regulatory Information System (IRIS), financial analysis and solvency, zone examinations and examiner training and issues concerning insurer insolvencies and insolvency guarantees. In addition, the Committee interacts with the technical task forces.

The Financial Condition (E) Committee will:

Monitor all of the changes to the Annual Statement Blanks Instructions, Risk-Based Capital formulas, Financial Condition Examiners Handbook, Accounting Practices and Procedures Manual, Financial Analysis Handbooks, Purposes and Procedures Manual of the NAIC Securities Valuation Office, NAIC Model Laws, NAIC Accreditation Standards and other NAIC publications. This charge is ongoing.
Assist the International Insurance Relations (G) Committee in identifying issues to present for discussion with the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the European Commission. This can occur at various times, including quarterly reports to the International Insurance Relations (G) Committee on the progress made on the charges from the Solvency Modernization Initiative.
At critical junctures throughout the Solvency Modernization Initiative, the Committee should identify and prioritize related resource needs, both in terms of committee activity and necessary NAIC and state staff support and involvement.
Develop a single comprehensive document that describes the US regulatory framework.

2009 Charges are posted on the following individual websites:

AIG Managing Task Force
Analyst Team System Oversight Working Group
Blanks Working Group
Capital Adequacy Task Force
Capital and Surplus Relief Working Group
Credit Default Swap Working Group
Emerging Accounting Issues Working Group
Examination Oversight Task Force
Financial Analysis Handbook Working Group
Financial Analysis Research and Development Working Group
Financial Analysis Working Group
Financial Examiners Coordination Working Group
Financial Examiners’ Handbook Technical Group
Financial Guaranty Insurance Guideline Working Group
Investment of Insurers Model Act Revision Working Group
IT Examination Working Group
NAIC/AICPA Working Group
National Treatment and Coordination Working Group
Property and Casualty Reinsurance Study Group
Rating Agency Working Group
Receivership and Insolvency Task Force
Reinsurance Task Force
Restructuring Mechanisms for Troubled Companies Subgroup
Risk Retention Group Task Force
Statutory Accounting Principles Working Group
Valuation of Securities Task Force

June 4, 2009 State Government Representative Webinar: NAIC Solvency Activities Review

PowerPoint Presentation [PPT] [PDF]
Presentation Audio -
- MP3 Audio 1 (Intro Slides 1-2, 4 min)
- MP3 Audio 2 (Slides 3-8, 6 min)
- MP3 Audio 3 (Slides 9-18, 17 min)
- MP3 Audio 4 (Slides 19-25, 20 min)
- MP3 Audio 5 (Slides 26-35, 11 min)
- MP3 Audio 6 (Slides 36-47, 16 min)
- MP3 Audio 7 (Slides 48-57, 17 min)

Finite Reinsurance

US Insurance Solvency Framework

Please submit all comments to Dan Daveline and Mary Weiss on or before COB December 17, 2009.

Revisions to SSAP No. 10–Income Taxes - Alternative Language Proposal

The Financial Condition (E) Committee has exposed SSAP No. 10R--Income Taxes - Revised, A Temporary Replacement of SSAP No. 10 (SSAP No. 10R), which is an alternative language proposal to the version exposed September 24, 2009. This alternative language proposal intends to reflect the concepts adopted during the 2009 Fall National Meeting for the admittance of DTAs, but incorporates revisions to allow the operational application of the adopted concepts.

Comments on the exposed SSAP No. 10R alternative language proposal shall be submitted to the Financial Condition Committee by November 19, 2009. A Financial Condition (E) Committee conference call will occur on Tuesday, November 24, 2009 at 12:00 p.m. (noon) Central to discuss comments received and consider adoption. Comments submitted shall be sent to the attention of Commissioner Gross, Chair of the Financial Condition (E) Committee, via the following NAIC staff: Robin Marcotte (rmarcott@naic.org) and Dan Daveline (ddavelin@naic.org).

Meeting Minutes
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Joint Conference Call Between the Statutory Accounting Principles (E) Working Group, Accounting Practices & Procedures (E) Task Force and Financial Condition (E) Committee
11/06/09
10:00 a.m. CT