Committees, Subgroups, Task Forces, Working Groups - NAIC

  • Financial Guaranty Insurance / Monolines - NAIC Groups
  • Guaranty Funds - NOLGHA - NAIC Groups
  • Troubled Companies - NAIC Groups
  • Valuation of Securities (EX4) Task Force
    • Credit Default Swaps
  • Guaranty Funds - NOLGHA - NAIC Groups 
    • 1987-1, NAIC Proceedings - Guaranty Fund Task Force (EX4)
      • Financial Condition (EX4) Subcommittee
  • Report of the Governance Subgroup of the Former Special Advisory Committee to the Joint Working Group on Receivership/Guaranty Fund Policy Issues

1993-2, NAIC Proceedings

  • Financial Guaranty Insurance / Monolines - NAIC Groups
    • 1987-1, NAIC Proceedings - Financial Guaranty Insurance Study Group
      • Financial Guaranty Insurance Study Group Report (Attachment One) ... 162
        • Proposed Amendments to Financial Guaranty Insurance Model Bill (Attachment One-A) ......... 163
        • Amended Financial Guaranty Insurance Model Bill (Attachment One-B) ............... 166
        • Financial Guaranty Insurance Model Bill Explanatory Memorandum (Attachment One-C) ........... 175
  • Troubled Companies - Working Groups
    • Liquidation, Receivership, Stays, Moratoriums
    • 1940-0, NAIC Proceedings
      • Special Committees-Liquidation and Reorganization
    • Year - Troubled Company Working Group of the Examination Oversight (EX4) Task Force
    • Rehabilitators and Liquidators (Ex4) Task Force
      • Special Liquidation Issues Working Group
    • 1989-1, NAIC Proceedings - Report of the Special Liquidation Issues Working Group of the Rehabilitators and Liquidators (Ex4) Task Force - Attachment Seven - (p461)
      • charged it
        • ...to commence work upon analyzing and making recommendations concerning the impact of various court decisions ruling upon federal priorities to the assets of insurance receivership estates
        • .. to prepare draft revisions to the McCarran-Ferguson Act to incorporate the practice of insurance liquidations as the "business of insurance" as well as a draft lobbying platform for such legislation.
        • ...separated itself into two subgroups in order to fulfill its charge.
          • Subgroup A, chaired by Arkansas, was delegated the duties of drafting the proposed revisions to McCarran-Ferguson and a lobbying platform for such legislation as well as to discuss and advise upon legal positions which may be available to liquidators with regard to federal priority claims in receivership proceedings.
          • Subgroup B, chaired by Tennessee, was delegated the duties to identify and establish recommended positions which liquidators could take concerning all areas of potential disputes between the federal government and liquidators, to make recommendations concerning steps which could be taken to establish a central location in the federal government which liquidators could communicate with concerning the claims of the federal government in their particular liquidation, as well as to make recommendations as to how information concerning the resolution of federal claims and positions in the various liquidations could be made available to interested liquidators.
  • Non-Forfeiture and Valuation
    • 1941 - Committee to Study Nonforfeiture Benefits and Related Matters
      • 1941 Guertin Report
        • The NAIC's Committee to Study Nonforfeiture Benefits and Related Matters was chaired by Alfred N. Guertin, actuary of the New Jersey Insurance Department.
        • The report, known as the Guertin Committee Report.
    • 1975 Unruh Committee
      • The SOA Board of Governors appointed a Special Committee on Valuation and Nonforfeiture Laws, chaired by Henry C. Unruh, and assigned it:
        • (1) to study in-depth the underlying actuarial principles involved in, and the practical problems which arise in the application of these principles to, current regulations and practices with regard to valuation and nonforfeiture requirements; and
        • (2) to develop a report on its findings. In 1975 the Committee submitted its report on nonforfeiture, which included the following (underlined emphases added):
        • 1996-1, NAIC Proceedings
  • C1 Factor Review (E) Subgroup
  • Capital Adequacy Task Force
  • Valuation of Securities Task Force.
  • MACROPRUDENTIAL INITIATIVE (MPI)
    • Financial Stability (E) Task Force
    • Liquidity Assessment (E) Subgroup
    • Group Capital Calculation (E) Working Group
    • Receivership and Insolvency (E) Task Force
    • Market Regulation and Consumer Affairs (D) Committee
      • Market Conduct Examination Standards (D) Working Group
  • NAIC Risk Assessment Working Group of the Financial Condition (E) Subcommittee
    • Report of the National Association of Insurance Commissioners (NAIC) and the Federal Reserve System - Joint Subgroup on Financial Issues
  • ASSIGNMENT OF NAIC PRIORITIES UNDER NEW COMMITTEE STRUCTURE - As of June 12, 1981
  • TRANSFER OF FUNCTIONS AND PROJECTS FROM OLD COMMITTEES TO NEW
  • Subcommittee on Tontine Policy Control of the Laws and Legislation Committee - 1955-1
  • Report of the Subcommittee on Tie-in-Sales of Insurance with Mutual Fund Shares - 1955-1
  • Life Insurance Cost Comparisons Task Force (1974-1)
  • Life Cost Comparison Working Group (1975-2 NAIC Proc. 54)
  • 1975-2, NAIC Proceedings - Premium and Retirement Deposit Funds Model Act
    • Life insurance companies may accept payments from policyholders under policy provisions which permit deposits to be made in funds established for the payment of future premiums on individual life or annuity policies, or for the purchase of annuity benefits at a future date, only under the following conditions and limitations:
      • (h) Sales promotion literature must illustrate the projected results of the fund using the guaranteed interest rate, irrespective of whether or not projected results are also shown on the basis of the rate currently being paid or some lesser rate.
  • Manipulation, Lapsation, Dividend Practices and Annuity Disclosure (A) Task Force (late 1970s - early 1980s)
  • Task Force on Premium Financing - 1971, 1972
  • Insurance Holding Companies (A2) Subcommittee, (1980-2)
  • Task Force to Develop Meaningful Consumer Information on Personal Lines, (1980-1)
  • Sex Discrimination Task Force (1980-2)
  • The chairman pointed out the confusion which has occurred with the question of life insurance cost disclosure being divided between this task force and the Evaluation of the Life Insurance Disclosure Regulation Task Force.
    • Following discussion, and a motion duly made, the subcommittee took appropriate action to:
      • rename the Evaluation Life Insurance Cost Disclosure Task Force to the Life Insurance Cost Disclosure Task Force and
      • renamed the previously existing Cost Disclosure Task Force under the direction of Ms. Edwards to be entitled The Manipulation, Lapsation, Dividend Practices, and Annuity Disclosure Task Force. (1980-2)
  • Competition (B3) Subcommitteee - 1980-1
  • Evaluation Life Insurance Disclosure Task Force, (1980-2)
  • Variable Life Insurance (A) Task Force (1980s), (Name Changed to Registered Life Products Task Force, 1983-2)
  • Integrated Financial Services Task Force
    • Chairman Foudree
    • Senator Jake Garn (R-UT) - Hearings
  • Report by the Task Force on Life Insurance Replacement, October 1, 1981
  • Life Cost Disclosure Task Force (A), (1982-1989)
  • Task Force on Valuation and Nonforfeiture Regulation for New Products, 1983-1
  • Special Investigation and Consumer Information on Baldwin-United (EX) Task Force - 1984-2, NAIC Proceedings
  • Life Insurance Taxation (EX) Task Force -1984-2, NAIC Proceedings
  • Task Force-Systems for Deregulation and Improved Regulation (EX)- 1984-2, NAIC Proceedings
  • Guaranty Fund (EX4) Task Force
  • Study Group on Reporting for New Investment Vehicles - 1985-2 - Securities Lending
  • International Insurance Task Force Working Group  - 1987-1
  • Subgroup on Life and Health Advertising Issues - 1987-1 (Market Conduct Surveillance (EX3) Task Force)
  • Life Insurance Products Coupled With Annuities - 1987-2
  • Model Annuity and Deposit Fund Disclosure Regulation
  • NAIC Technical Services (EX5) Subcommittee
  • Subgroup on Life Advertising Issues - NAIC Proceedings -1988-2
  • Financial Reporting Working Group - 1988-2
  • Risk Assessment Approach Subgroups - 2000-1
  • Accounting for Transfers Between Affiliates (EX4) Study Group held its first meeting.....March 13, 1988 - 1988-2
  • Financial Services and Insurance Regulation (EX) Task - (88-93)
    • ... the task force appointed subgroups to address issues involving financial planning, banking and securities - 1988-2
  • Consumer Disclosure Issues Working Group - (late 1980's, Early 1990's), Working Group of the Product Development Task Force
  • Subgroup on Complaint Information of Market Conduct Surveillance (EX) Task Force - 1990-1A
  • Life Marketing Practices to Senior Citizens Working Group - 1991-1A
  • NAIC/NCOIL JOINT COMMITTEE - 1991-1A
  • NAIC/AAA/ASB JOINT COMMITTEE ON STANDARDS AND RELATED MATTERS - 1991-1A
  • Sale of Future Revenue (EX4) Working Group - 1991-1A
  • Special (EX) Committee on the McCarran-Ferguson Act. - 1991-1A
  • Life Disclosure Working Group -  (1990's - Life Insurance Illustrations Model Regulation)
  • Life Risk-Based Capital Working Group of the Examination Oversight (EX4J Task Force - 1992-1A
  • SECOND STANDARD NONFORFEITURE LAW
  • Buyer's Guide Subgroup - (1990's, Brenda Cude, Chris Kite, ambiguities)
  • Replacement Issues Subgroup - (1990's, New Jersey, Prudential, Multi-state Task Force)
  • March 9, 1995, Meeting of the Life Working Group—Life Nonforfeiture Law
  • SPECIAL INSURANCE ISSUES (E) COMMITTEE, 1995-4
  • MARKET CONDUCT AND CONSUMER AFFAIRS (EX3) SUBCOMMITTEE>A>, 1996-2
  • Cost Indices Subgroup of the Life Disclosure Working Group (1996-3v2)
  • Life Working Group of the Life and Health Actuarial (Technical) Task Force  - 1996-1
  • Model Consumer Information Report Working Group of the Market Conduct and Consumer Affairs (EX3) Subcommittee - March 12, 1996
  • 1996-3v2, NAIC Proceedings - Synthetic GIC Working Group of the Life Insurance (A) Committee
  • Life Liquidity Risk Working Group (A) - 2000-2, Mike Boerner
  • Life Risk- Based Capital Working Group.
  • National Treatment of Companies Working Group - 2000-1
  • Financial Services Holding Company Examination/Analysis/Review Working Group - 2000-1

Solvency Modernization (EX) Task Force - 2011-2

  • Troubled Company Working Group of the Examination Oversight (EX4) Task Force

Life and Health Actuarial (Technical) Task Force

  • LIFE AND HEALTH-ACTUARIAL (EX5) TASK FORCE - 1986-2
  • Life Working Group - 1996-3v2

  • TECHNICAL SERVICES (EX5) SUBCOMMITTEE 

    Life and Health Actuarial (EX5) Task Force .

  • Standing Technical Advisory Committee
  • Multistate Task Force Study of Life Insurance Marketing Practices (ATTACHMENT ONE-C)
  • MARKET CONDUCT EXAMINERS HANDBOOK - CHAPTER: CONDUCTING MULTISTATE EXAMINATIONS (ATTACHMENT ONE-A)

1996-2, NAIC Proc. 

  • 1990-1A, NAIC Proc. - ACCELERATED BENEFITS GUIDELINE
  • 1991-1A, NAIC Proc. - 541 7. Adopt Illustrated Interest Projections Bulletin
  • 1991-1, NAIC Proc. - Financial Review of This Policy Disclosure Form

NAIC DISCOUNTING GUIDELINES SUBCOMMITTEE REPORT (853)

  • At the direction of the Advisory Committee, the Subcommittee's compiled bibliography of discounting articles has been sent to the American Academy of Actuaries Actuarial Standards Board's Loss Reserve Discounting Subcommittee in response to the recent exposure draft comment period on discounting standards of practice.
  • We recommended that a discounting bibliography be included in the standard of practice document, and that our bibliography at least be considered a head start.
  •  

1990-2, NAIC Proc.

SOCIETY OF FINANCIAL EXAMINERS PRESENTATION
TO NAIC COMMITTEE ON EXAMINATION PROCESSES
Augnst 14, 1990

  • Unfair Claims Settlement Practices Act
  • Handbook Development Working Group
  • Federal Issues Working Panel (Federal Issues Panel)

1991-1A, NAIC Proc.

Forms

"Statement of Policy Information for Applicant"  - LIFE INSURANCE DISCLOSURE MODEL REGULATION  - Appendix D

1993 - Policy Information for Applicant- Universal Life - 3p, Life Insurance Disclosure Model Regulation - Appendix D
       Located in 1993 -  GOV - When Will Policyholders Be Given The Truth About Life Insurance? -  p63-65 

Accounting Practices and Procedures (EX4) Task Force
-1983-2 NAIC Proc. 
-1996-4 NAIC Proc

Emerging Actuarial Issues (E) Working Group (EX4) Task Force - Blanks, 1995-4

Emerging Accounting Issues Working Group

Guaranty Fund Issues B Working Group, 1995-4

Guaranty Fund Issues Working Group B of the Insolvency (EX5) Subcommittee December 5, 1995, 1995-4

EXECUTIVE (EX) COMMITTEE; Broker Activities (EX) Task Force, 2004-4, NAIC Proceeding

Financial Analysis (E) Working Group

Financial Condition (E) Committee

Interest-Indexed Plans Subgroup, 1983-2

Market Conduct Surveillance (EX3-c) Task Force, 1983-4 NAIC Proc.

Registered Life Products Task Force (Was Variable Life Task Force),1983-2

SECURITIES AND INSURANCE REGULATION (EX) TASK FORCE,
1983-2

Technical Advisory Committee on Dynamic Interest and Related Matters, 1983-1

Technical Staff Actuarial Group (TSAG)

Life, Accident and Health Technical Staff Actuarial Group, 1983-1

Viatical Settlements Working Group - 1996-4v2

  • The task force was originally called, "The Cost Disclosure Task Force"
    • The name was changed to the present name at the June 1980 meeting, in order to avoid confusion and overlap with the task force working on the Life Solicitation Regulation. 

1981-2, NAIC Proc. 

  • Non-Investment Bonds Working Group - NAIC
    • Chair - Norman Koefoed, Chair (Ill);
    • (p ) - The Chair notified the task force that a Non-Investment Bonds Working Group had been appointed to review companies with large holdings in non-investment grade bonds.
      • The group had met three times since being organized.
      • The initial concern has been with Executive Life Insurance Company of California.
      • The group has received reports from both an independent actuarial firm and the company and is monitoring the situation.
      • The chair advised that no precipitous action should be necessary against the company.
      • In addition, the group has provided the California Department with a list of recommendations regarding needed information from the company.
      • The chair stated that information provided to the group indicates the company to be in a very liquid position, with surrenders declining as compared to January and February of this year.
      • Mr. Montgomery stated that the Actuarial Valuation Report from Milliman and Robertson should be completed by week end and copies would be available to states from the actuarial firm.
  • 1941 Guertin Report
    • The NAIC's Committee to Study Nonforfeiture Benefits and Related Matters was chaired by Alfred N. Guertin, actuary of the New Jersey Insurance Department.
    • The report, known as the Guertin Committee Report

1996-1, NAIC Proceedings - Committee to Study Nonforfeiture Benefits and Related Matters

  • 1975 Unruh Committee
    • The SOA Board of Governors appointed a Special Committee on Valuation and Nonforfeiture Laws, chaired by Henry C. Unruh, and assigned it:
      • (1) to study in-depth the underlying actuarial principles involved in, and the practical problems which arise in the application of these principles to, current regulations and practices with regard to valuation and nonforfeiture requirements; and
      • (2) to develop a report on its findings. In 1975 the Committee submitted its report on nonforfeiture, which included the following (underlined emphases added):

1996-1, NAIC Proceedings

  • Rules Governing the Advertising of Life Insurance
  • Disclosure for Small Face Amount Life Insurance

1988-2, NAIC Proc.

  • Add Project 41 - Whole Life Policies Without Cash Values or Paid-up Benefits
  • Life and Health Actuarial (EX5) Task Force Directed to study reserve factor files .......... 85-I-552
  • 1940-0, NAIC Proceedings
    • Special Committees-Liquidation and Reorganization
    • Special SEC Committee