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 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)
Committee on State Health Issues letter to the North Carolina Department of Insurance regarding the Department's proposal to change the definition of "qualified actuary." (April 14, 2010)
Health RBC Trend Test Work Group report to the NAIC on evaluating the effectiveness of three proposed trend tests. (August 26, 2008)
Health Practice Financial Reporting Committee comments on proposed changes in the actuarial opinion instructions for NAIC health annual statements. (February 19, 2008)
Joint Committee on Retiree Health letter to Texas officials about misinterpretations of the committee's 2006 comments on accounting standards for OPEBs. (June 15, 2007)
Medicare Part D RBC Subgroup revision proposals to the NAIC life and health RBC instructions for Medicare Part D to address a potential unintended consequence related to the Authorized Control Level (ACL) RBC results. (June 3, 2007)
Medicare Part D RBC Subgroup comment letter to NAIC's Health Risk Based Capital Working Group on a possible update of proposed risk factors previously developed by the Academy's Medicare Part D subgroup. (May 3, 2007)
Health Practice Financial Reporting Committee letter to Julia T. Philips, the Chair of the NAIC's Health Risk-Based Capital (RBC) Working Group, that comments on a proposal made by Blue Cross Blue Shield of Florida regarding the treatment in the NAIC RBC formulas of medical insurance products for which active life reserves are held. The letter provided initial thoughts on the matter and seeks further input from the NAIC in light of these thoughts. (May 3, 2007)
Health Practice Financial Reporting Committee comments to the NAIC on a proposal to include a trend test in the health RBC formula. (May 3, 2007)
LTC Principle-based Work Group presentation providing an update to the A&HWG and requesting feedback on work to date by the LTC Principle-based Work Group. (March 31, 2007)
Stop-Loss Work Group progress report to the Health RBC (E) Working Group during December 2006 NAIC meeting. (March 21, 2007)
Status report on Stop-Loss RBC Work Group effort to propose a set of RBC factors for excess of loss products to the NAIC. (December 31, 2006)
Joint Committee on Retiree Health letters to FASB expressing concern over proposed changes in financial accounting standards for pensions and OPEBs. (May 31, 2006)
Medicare Part D RBC subgroup report to the NAIC on proposed RBC risk factors relating to the insurance of Medicare Part D coverage commencing January 1, 2006. This report was written in response to a charge from the NAIC. (December 3, 2005)
Health Financial Reporting Committee practice note addressing questions and issues regarding the valuation actuary's responsibilities related specifically to determining reserve levels and asset adequacy for small group medical insurance coverage. (October 31, 2005)
Report to NAIC on Proposed Medicare Part D RBC changes
Memo to the NAIC from the Medicare Part D Subgroup with proposed health RBC instruction and health RBC formula changes, proposed life RBC instruction and life RBC formula changes, and explanatory slides. (September 10, 2005)
Federal Health Committee letter in response to HR 2355, the Health Care Choice Act of 2005, which contained language that would allow a non-actuary to offer statements of opinions on reserves. The letter recommended only a member of the Academy be permitted to provide such an opinion. (July 19, 2005)
Health RBC Subgroup status report to the NAIC Task Force. The subgroup was created in response to and NAIC charge for recommendations of changes to the 2006 RBC Formulas and Instructions, in order to address the risks of Medicare Part D Prescription Drug coverage. (June 11, 2005)
Academy document includes a series of tips to facilitate using the Rate Filing Task Force model. (September 30, 2004)