Financial Condition Committee

Rathgeber takes over Texas Insurance Dept.

By Elizabeth D. Festa, Chad Hemenway | May 28, 2013

Gov. Perry fails to step up with support letter Kitzman needed for confirmation.

2013 ORSA pilot accepting volunteer insurers

By Elizabeth D. Festa | February 20, 2013

Interested insurers and/or groups should provide an email by May 31 regarding their interest.

NAIC captives/SPVs discussion spotlights state solvency oversight, SAP

By Elizabeth D. Festa | November 29, 2012

The regulatory divide between those loyal to captives and those who mistrust their use as tools to avoid SAP has deepened.

Captive SPVs: Shadow industry or necessary tool for life insurers?

By Elizabeth D. Festa | November 21, 2012

Some state regulators are raising the specter of the “shadow banking system” in addressing the captives issue.

ORSA subgroup recommends 2013 pilot project

By Elizabeth Festa | November 1, 2012

The project could provide feedback to be included in guidance to involved NAIC working groups.

NAIC to Adopt Use of Cross-border Surveillance Tool

By Elizabeth Festa | September 11, 2012

The Financial Stability Board recommended adoption of the LEI by March 2013 and the NAIC says it is on track to do so.

CT's Leonardi Forges First Ever State Supervisory Pact with IAIS

By Elizabeth Festa | February 24, 2012

Leonardi signs a first-of-its-kind agreement with the International Association of Insurance Supervisors, allowing multinational (via a state) supervision of insurance companies through sharing of confidential company information.

AG 38: S.C. Contends Proposed 'Framework' Doesn't Comply with SVL for In-Force Business

By Elizabeth Festa | February 6, 2012

Alaska also defends LATF statement to the NAIC Joint Working Group, in a defense of its reserving concerns for USLG and term UL products in the face of a compromise commissioner-led, industry-approved "framework" concept. Also, tensions between the role of the NAIC's life actuary group's voice and commissioner-level control of...

Vaughan Takes Reins of International Regulatory Joint Forum

By Elizabeth Festa | January 17, 2012

Appointment spotlights U.S. role in solvency modernization efforts globally among insurers--and the U.S.'s contribution.

NAIC Top Working Group Tackles AG 38

By Elizabeth Festa | December 8, 2011

NAIC Commissionersy talk up a level playing field, uniformity, PBR and peer review as they roll up their sleeves to figure out the best way to reserve for new products with secondary guarantees, and how to establish premiums even as modern products continue to race beyond old-fashioned reserving methodologies.