Financial Reporting, Risk Management And Solvency

Financial reporting and solvency issues at the state level, such as NAIC-related projects on RBC, as well as emerging international solvency issues and federal regulation of insurance companies.

Health Practice Financial Reporting Committee issue brief providing an overview of Affordable Care Act provisions - the premium-stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities - that may create a certain amount of volatility on future financial statements. (November 1, 2013)
Aug. 22, 2013 Webinar Presentation: Financial Reporting Implications Under the Affordable Care Act (August 22, 2013)
Update of the Large Group Medical Business Practice Note by the Large Group Medical Business Practice Note Work Group. (August 7, 2013)
Health Practice Financial Reporting Committee white paper providing an overview of provisions in the Affordable Care Act - the premium-stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities - that may create a certain amount of volatility on future financial statements. (June 25, 2013)
The Solvency Committee submitted comments to the NAIC on its revised version of a draft white paper on the Solvency Modernization Initiative and insurance regulation. (June 6, 2013)
Health Practice Financial Reporting Committee comments to the NAIC on proposed modifications to the Maintenance Agenda Submission Form that addresses and Accounting Standards Update surrounding fees paid to the federal government by health issuers.  (May 17, 2013)
Casualty, Life, Health, Professionalism, and Financial Reporting Council comments to the NAIC's Corporate Governance Working Group on its Proposed Responses to a Comparative Analysis of Existing U.S. Corporate Governance Requirements. (September 28, 2012)
Health Practice Financial Reporting Committee comments to the ASB on revisions to ASOPs 22 and 28. (May 15, 2012)
Public policy practice groups comments to the NAIC on its draft white paper on the Solvency Modernization Initiative and insurance regulation offering suggestions encompassing RBC, ORSA, and NAIC model laws. (April 30, 2012)
Pension Accounting Committee and Joint Committee on Retiree Health letter to the National Association of Insurance Commissioners (NAIC) on the exposure drafts of Statements of Statutory Accounting Principles (SSAP) No. 92 and No. 102. (December 9, 2011)
Medicare Part D RBC Subgroup letter to the NAIC's Health RBC Working Group asking it to sponsor and administer a survey of carriers that write Medicare Part D business. The survey is designed to gather additional data that may support any needed changes to the formula. (February 9, 2011)
Life, Health, and Property/Casualty RBC committees joint report in response to the NAIC's request for assistance with the Solvency Modernization (SMI) project on the NAIC's Risk-Based Capital (RBC) formulas. The report discusses the intended/expected safety levels for RBC and identifies risks that are missing from the RBC formulas. (January 31, 2011)
Health Practice Financial Reporting Committee practice note on the Revised Actuarial Statement of Opinion Instructions of the NAIC Health Annual Statement that went into effect Dec. 31, 2010. This practice note is intended to help actuaries both understand and comply with new requirements issued by the NAIC regarding health annual statement filings. (January 1, 2011)
Joint Committee on Retiree Health and the Pension Accounting Committee comments to the NAIC regarding the exposure draft of SSAP 92 (OPEBs) and proposed revisions to SSAP 89 (pensions). (October 30, 2010)
Health Practice Financial Reporting Committee comments to the Actuarial Standards Board regarding a proposed revision to ASOP 28. (October 30, 2010)
P/C Risk-Based Capital Committee response to the NAIC's request on risk-based capital issues. (October 1, 2010)
Deferred Tax Asset DTA Bridge Group request for an interim report to the NAIC Capital Adequacy Task Force showing the appropriate treatment of the Deferred Tax Asset (DTA) in the Risk-Based Capital formulas for Life, Property / Casualty (P&C), and Health. (September 30, 2010)
Health Practice Financial Reporting Committee practice note on practices for preparing health contract reserves. (September 30, 2010)
Health Solvency Work Group comment letter to the chair of the NAIC's Capital Adequacy Task Force regarding the evaluation of the current health risk-based capital covariance formula calculation for potential changes to the calculation or methodology. (June 11, 2010)