2015 Reporting Updates
Tuesday / December 15, 2015
1pm Central / 2pm Eastern
Learning Objectives
• Describe the reporting changes for the exhibits and
schedules of the annual statement filing.
• Explain the reporting changes to the Notes to
Financial Statement and identify the related
SSAP(s).
• Identify the common reporting issues.
• Identify the future issues that may impact reporting.
Mary Caswell
NAIC Data Quality Manager
– Manages Data Quality Unit
– Supports Blanks Working Group
– Supports Health Reform Solvency Impact Subgroup
– Supports Investment Reporting Subgroup
•
•
Joined NAIC in August 2000
MBA
•
Contact email information: mcaswell@naic.org
Adopted Changes
2014-19BWG
– General Interrogatories, Part 2 reference and 5 Year Historical
reference for statutory minimum capital and surplus.
Health Blank:
Changes the reference for Line 11 from “minimum
net worth” to “statutory minimum capital and
surplus.”
2014-20BWG – Note 32 & 34
Change to correct inconsistencies in the use of “market value” and “fair
value”.
The separate accounts disclosure, Note 34 change:
Reserves by withdrawal characteristics, i.e., whether or not for the separate
account:
• Subject to discretionary withdrawal including the categories of:
– Fair Market value adjustment
– Withdrawal at book value without market value adjustment and with or without
current surrender charge of 5% or more
– At fair value
– Withdrawal at book value without market value adjustment and with current
surrender charge of 5% or less
• Not subject to discretionary withdrawal
2015-01BWG & 2015-02BWG
2015-01BWG – Remove barcode listing form lists from
barcode instructions in the appendix.
2015-02BWG – Supplemental Health Care Exhibit
– Eliminate the Aggregate 2% Rule Column for Parts 1 & 2.
– Replace with a column to capture Medicare Advantage
Part C Plans and Medicare Part D Stand Alone Plans
which are no longer excluded by statute.
2015-03BWG – Property Blank &
Health Blank Supplements
Property Line of Business Appendix
• Consolidating lines of business definitions and added
some definitions.
– Deleted from Exhibit of Premiums and Losses
– Added to the Appendix (examples:)
•
Occurrence, Claims Made
Commercial Multi-peril: Builders’ Risk Policies, Businessowners, Commercial Package Policy, Manufacturers Output
Policies, E-Commerce, Difference in Conditions (DIC)
Definitions – Inland Marine
• Animal Mortality
• EDP Policies
• Pet Insurance Plans
• Communication Equipment (Cellular Telephones)
• Event Cancellation
• Travel Coverage
• Boat owners/Personal Watercraft
• Other Commercial Inland Marine
• Other Personal Inland Marine
2015-04BWG - Title Blank
Title Insurance 5 Year Historical Page
(From Parts 2 & 3 of Scheduled P)
• Add one year and two year loss development lines
– Development in estimated losses and ALAE on
policies (claims) effective before current year
– Percent of such development to policyholders' surplus
of prior year end
Polling Question
#1
Generally disclosure changes to the annual and quarterly
filings Notes to Financial Statement are driven by changes in
the SSAPs.
True ____
10
False____
U&I, Part 2B – Health Blank
2015-05BWG
• Columns 1 through 4, line 10 of U&I, Part 2B should equal health care receivables
on Exhibit 3, Columns 6 and Column 7
(excluding health care receivables, such as loans or advances to non-related party hospitals,
established as prepaid assets that are not expensed until the related claims have been received
from the provider.)
• Note U&I, Part 2B is reported on a “net of reinsurance basis”, Exhibit 3 is reported
“gross of reinsurance”.
• Crosschecks added to gain consistency where possible.
2015-06BWG – Note 11B, FHLB
• Add crosschecks to the illustrations data captured
for Note 11B to clarify the inclusion of Class A and B
membership stock not eligible for redemption.
1
2
3
Membership Stock
1. Class A
2. Class B
Current Year
Total
Not Eligible for
(2+3+4+5+6)
Redemption
Less Than 6
Months
Eligible for Redemption
4
5
6 months
to Less Than 1 to Less Than
1 year
3 Years
6
3 to 5 Years
b. Membership Stock (Class A and B) Eligible and Not Eligible for Redemption
11B(2)b1 Current Year Total (Column 1) should equal 11B(2)a1(a) Total (Column 1)
11B(2)b2 Current Year Total (Column 1) should equal 11B(2)a1(b) Total (Column 1)
2015-07BWG – Schedule A, Part 1 /
SSAP 40R
• Modify the instructions for Schedule A, Part 1 to reflect the
reporting of real estate owned by a LLC on Schedule A if it meets
the requirements set forth in SSAP 40R, Real Estate
Investments.
• Adds a code “!” to Schedule A, Part 1, to identify all single real
estate property wholly-owned by an LLC that meets the criteria
set forth in SSAP No. 40R.
Cash Flow 2015-08BWG/ SSAP 69
Cash Flow instructions - to reflect the inclusion of only cash
transactions. Reconciliation of investment activity.
Although non-cash items are included for reconciliation
purposes, the Statement of Cash Flow shall only include
transactions involving cash.
In addition to excluding the lines that are explicitly non-cash
items (e.g., change in admitted assets) from what is reported in
the Statement of Cash Flow, adjustments are necessary to
remove non-cash acquisitions or disposals.
SSAP 69 guidance change
2015-09BWG -Note 5A, Mortgage
Loans/SSAP 37
8) Mortgage Loans Derecognized as a Result of
Foreclosure:
Current Year
a. Aggregate amt of mortgage loans derecognized
b. Real estate collateral recognized
c. Other collateral recognized
d. Receivables recognized from a government
guarantee of the foreclosed mortgage loan
$
$
$
$
2015-11BWG – Note 1, Significant
Accounting Policies/ SSAP 1
D.
Going Concern
Provide disclosures regarding any going concerns of the company or plans for the
entity’s ability to continue as a going concern.
(1) If doubt about an entity’s ability to continue as a going concern is
alleviated, the reporting entity shall disclose in the notes to the financial
statements the following information:
a. Principal conditions and events that raised substantial doubt about the
entity’s ability to continue as a going concern (before consideration of
management’s plans).
b. Management’s evaluation of the significance of those conditions or events
in relation to the entity’s ability to meet its obligations.
c. Management’s plans that alleviated substantial doubt about the entity’s
ability to continue as a going concern.
2015-11BWG – Note 1/SSAP 1
(2) If substantial doubt is not alleviated, the entity should indicate such indicating that
there is substantial doubt about the entity’s ability to continue as a going concern
within one year after the date that the financial statements are issued.
Disclose management’s plans to mitigate the conditions or events causing the doubt
about the entity’s ability to continue as a going concern.
(3) Going concern evaluation and disclosures are required for both interim and annual
financial statements and in subsequent annual or interim reporting periods to which
the condition continues. In these subsequent periods the disclosures should become
more extensive as additional information becomes available.
(4) For the period in which substantial doubt no longer exists (before or after
consideration of management plans), an entity shall disclose how the relevant
conditions or events were resolved.
2015-12BWG – Note 5G, LIHTC /
SSAP 93
(2) The amount of low-income housing tax credits
and other tax benefits recognized during the
years presented.
(3)
The balance of the investment recognized in the
statement of financial position for the reporting
period(s) presented.
2015-13BWG – Cybersecurity
Insurance (Property)
Stand-alone Policies
Direct Premiums
Number of Claims
Reported
1
2
First
Third
Party
Party
3
Written
$
Direct Defense and Cost
Containment
9
Paid
$
10
Incurred
$
Direct Losses
4
Earned
$
5
Paid
$
6
Incurred
$
Number of Policies in Force
11
Claims Made
12
Occurrence
Adjusting and Other
Expenses
7
Paid
8
Incurred
2015-13BWG – Cybersecurity
Insurance
Part of a package policy:
Cybersecurity Insurance
Direct Losses
Number of Claims
Reported
1
First Party
2
Third Party
3
Paid
$
Cybersecurity Insurance Direct Defense
and Cost Containment
7
Paid
$
4
Case
Reserves
8
Case Reserves
$
Cybersecurity Insurance
Adjusting and Other
Expenses
6
5
Case
Paid
Reserves
$
$
Number of Policies in Force
9
Claims Made
10
Occurrence
$
3.1 Can the direct premium earned … be qualified or estimated? Yes [ ] No [ ]
3.11 If not, explain why not_________________
3.2 If yes, provided premium numbers________________________
Cybersecurity proposal – Identity
theft
If the reporting entity writes any standalone identity theft
insurance coverage, please provide the following:
2. Standalone Identity Theft Insurance Policies
1
Number of
Claims
Reported
Direct Premiums
2
Written
$
3
Earned
$
Direct Defense and Cost
Containment
8
9
Paid
Incurred
$
$
Direct Losses
4
Paid
$
5
Incurred
$
10
Number of
Policies in
Force
Adjusting and Other
Expenses
6
Paid
$
7
Incurred
$
Cybersecurity proposal
If the reporting entity writes any identity theft insurance coverage that is part of a
package policy, please provide the following:
4.
Identity theft insurance that is part of a package policy
1
Number of Claims
Reported
2
Paid
$
3
Case Reserves
$
Direct Defense and Cost Containment
6
7
Paid
Case Reserves
$
Adjusting and Other Expenses
Direct Losses
$
4
Paid
$
8
Number of Policies in
Force
5
Case Resereves
$
2015-14BWG – Schedule D, Part 1
• Add new electronic columns for Issuer, Issue, ISIN
Identification and Capital Structure Code.
Issuer Column & Issue Column:
The reporting entity is encouraged to use the following sources:
• Bloomberg
• Interactive Data Corporation (IDC)
• Thomson Reuters
• S&P/CUSIP
• Descriptions used in either the relevant SEC filing or legal
documentation for the transaction.
Do not report ticker symbols, either internal or otherwise.
2015-15BWG – Note 22, Events Subsequent /
SSAP 106
•Did the reporting entity write accident and
health insurance premium that is subject to
Section 9010 of the Federal Affordable Care
Act (YES/NO)?
•TAC – 5 year historical crosschecks
2015-17BWG
Contracts Subject to Redetermination
Assets page:
Line 15.3 – Accrued Retrospective Premiums ($_____) and contracts subject to
redetermination ($______)
Liabilities page:
Line 4 (Health), Line 2 (Life & Fraternal): Aggregate Reserves
Include: payables for/accrued return premium for contracts subject to
redetermination.
Income statement:
Line 2 (Health) Net Premium Income, Line 1 (Life and Fraternal) Premiums
Include:
Accrued return premium adjustments for contracts subject to redetermination.
2015-17BWG – Additional pages
affected
Include: Accrued return premium adjustments for contracts
subject to redetermination.
Health: U&I, Part 1, Direct Business (column 1) U&I, Part
2D, Aggregate Write-ins for Other Policy Reserves (line 5)
Life and Fraternal: Exhibit 6, Aggregate Write-ins (line 6)
Property: Liabilities page, Aggregate Write-ins for Liabilities
(line 25)
XXX/AXXX Supplement - Life and
Fraternal
• Part 1 - All XXX and AXXX Cessions
• Part 2A - Transactions Subject to Part 2 Disclosure
(Grandfathered or Special Exemption)
• Part 2B - Transactions Subject to Part 2 Disclosure (NonGrandfathered)
• Part 3 - Collateral for All XXX/AXXX Reinsurance
Transactions Reported on Part 2A or Part 2B
• Part 4
- Non-Collateral Assets Supporting Reserves for All
Affiliate XXX/AXXX Reinsurance Transactions
Reported on Part 2A or Part 2B
• Part 5
- Supplemental XXX/AXXX Reinsurance Exhibit
Interrogatories
XXX/AXXX – Part 1
Adds definitions:
– Actuarial Method
– Covered Policies
– Required Level of Primary Security
– Primary Security
– Other Security
Part 1
Column 10 – Special Exemption by Domestic Regulator
(YES/NO)
A “yes” response means - ceding insurer’s domiciliary regulator, after
consulting with the NAIC Financial Analysis Working Group (FAWG) or other
group of regulators designated by the NAIC, determined that all of the
following apply to risks ceded:
1) such risks are clearly outside of the intent and purpose of AG-48; and
2) such risks are included within the scope of AG-48 only as a technicality;
and
3) the application of AG-48 to such risks is not necessary to provide
appropriate protection to policyholders under all the facts and
circumstances.
Part 2A & 2B
Part 2A – Transactions
Subject to Part 2 Disclosure
(Grandfathered or special exemption)
Part 2B – Transactions
Subject to Part 2 Disclosure
(Non-Grandfathered)
Part 2A
TRANSACTIONS SUBJECT TO PART 2 DISCLOSURE
GRAND- FATHERED OR SPECIAL EXEMPTION)
1
Cession
ID
9999999 Total
2
NAIC
Company
Code
3
ID
#
4
5
Name of
Company
Effective
Date or
Prior
Year
Annual
Statement
Date
As of Effective Date or Prior Year’s Annual Statement
6
Reserve
Credit
Taken
7
Required
Level of
Primary
Security
“Economic
Reserve”
Level
8
Primary
Security
9
10
Primary
Security –
Trust
Primary
Security –
Funds
Withheld or
ModifiedCoinsurance
11
Other
Security
As of Current Year’s Annual Statement
12
13
Reserve
Credit
Taken
Required
Level of
Primary
Security
“Economic
Reserve” Level
14
Primary
Security
15
Primary
Security
Adjustment
165
176
187
Primary
Security –
Trust
Primary
Security –
Funds
Withheld or
ModifiedCoinsurance
Other
Security
Part 2B
Part 2B – Transactions Subject to Part 2 Disclosure
(Non-Grandfathered)
1
2
3
NAIC
Cssn Cmpny ID
ID
Code #
9999999 Total
As of Effective Date or Prior Year’s Annual
As of Current Year’s Annual Statement
Statement
6
7
8
9
10
11
12
13
14
15
16
17
18
Effective
Prmary
Primary
Date or
Scrty –
Security –
Prior
Rqred
Funds
Required
Funds
Name of
Year
Rsrve Level
Prmry Withheld
Resrv Level of
Primary Primary Withheld
Cmpny
Annual Credit
of
Prmy Scrty –
or
Othr Crdt Primary Prmry Security Security
or
Othr
Statement Taken Prmry Scrty Trust Modified- Secty Taken Security Scurty Adjmnt
–
Modified- Scty
Date
Scrty
Coins
Trust
Coins
4
5
Part 3
Applies to all the cessions identified in Part 2A or 2B;
– Provided, that if the reporting entity has not received any collateral in
connection with a cession identified in Part 2A, the only information
required is the Cession ID number, Name of Company, NAIC
Company Code, and ID Number.
– The reporting entity should prepare a separate page for each
Cession ID reported on Part 2.
– The reporting entity should also provide a Grand Total page.
Part 3
Part 2 Cession ID __________
Name of Company: ________________________________
NAIC Company Code__________ ID Number __________
Effective Date or Prior Year Annual Statement Date: __________
Security Category Description
Primary Security
As of Effective Date or Prior Year’s
Annual Statement
1
2
Affiliate or
Parental Guarantee
Assets
(YES/NO)
As of Current Year’s Annual Statement
3
4
Affiliate or
Parental Guarantee
Assets
(YES/NO)
1. Cash
2. NAIC 1 SVO-Listed Securities
3. NAIC 2 SVO-Listed Securities
4. NAIC 3 SVO-Listed Securities
5. NAIC 4 SVO-Listed Securities
6. NAIC 5 SVO-Listed Securities
7. NAIC 6 SVO-Listed Securities
8. Commercial Loans
9. Policy Loans
10. Derivatives acquired in the normal course
11. Subtotal Primary Security
XXX
XXX
Part 3
Other Security
12. Cash
13 NAIC 1 SVO-Listed Securities
14. NAIC 2 SVO-Listed Securities
15. NAIC 3 SVO-Listed Securities
16. NAIC 4 SVO-Listed Securities
17. NAIC 5 SVO-Listed Securities
18. NAIC 6 SVO-Listed Securities
19. Commercial Loans
20. Policy Loans
21. Derivatives acquired in the normal course
22. Other Investments Admissible per the NAIC AP&P Manual
23. Evergreen, Unconditional LOCs
24. Other LOCs
25. Affiliate or Parental Guarantees
26. LOC-like Assets
27. Excess of Loss Reinsurance
28. All Other Assets
29. Subtotal Other Security
999999930.
Total
XXX
XXX
XXX
XXX
Part 4
• Applies to all the cessions identified in Part 2A or Part 2B where
the assuming insurer is an affiliate of the reporting entity.
• The reporting entity should prepare a separate page for each
Cession ID required to be reported on Part 4.
• The reporting entity should also provide a Grand Total page.
Part 4
Part 2 Cession ID __________
Name of Company: __________________
NAIC Company Code______
ID Number_________
Effective Date or Prior Year Annual Statement Date: __________
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
Asset Category Description
Cash
NAIC 1 SVO-Listed Securities
NAIC 2 SVO-Listed Securities
NAIC 3 SVO-Listed Securities
NAIC 4 SVO-Listed Securities
NAIC 5 SVO-Listed Securities
NAIC 6 SVO-Listed Securities
Commercial Loans
Policy Loans
Derivatives acquired in the normal course
Other Investments Admissible per the NAIC AP&P Manual
12. Evergreen, Unconditional LOCs
13. Other LOCs
14. Affiliate or Parental Guarantees
15. LOC-like Assets
16. Excess of Loss Reinsurance
17. All Other Assets
999999918.
Total
As of Effective Date or Prior Year’s
Annual Statement
1
2
Non-Collateral Assets
Affiliate or Parental
Supporting Reserves –
Guarantee
Affiliate Transactions
(YES/NO)
XXX
As of Current Year’s Annual Statement
3
4
Non-Collateral Assets
Supporting Reserves –
Affiliate or Parental
Affiliate Transactions
Guarantee (YES/NO)
XXX
Part 5
• Includes Interrogatories relating to Part 3 and Part 4 collateral
–
–
–
–
Letters of credit, contingent note, or similar
Pledged to a financing provider
Duration less than the duration of the underlying policy liability
Guaranteed by an affiliate or parent
Supplemental Health Care Exhibit
• 2015-19BWG - Cautionary statement and web link reference
• 2015-20BWG - Risk Adjustment (contracts subject to redetermination), Risk
Corridor (retrospectively rated contract)
References SSAP 54, 66, 107
– Direct Premiums Written
(SCHE Part 2) - Include: Premium adjustments for
contracts subject to redetermination where premium adjustments are based on the
risk scores (health status) of covered enrollees, rather than the actual loss
experience of the policy
• (examples: Medicare Advantage risk adjustment and ACA risk adjustment).
– Rate Credits – instruction added for risk corridor premiums paid or received, and
all other premium refunds paid or received related to retrospectively rated contracts.
Supplemental Health Care Exhibit
• 2015-21BWG - Footnote table addition
– To capture 3R’s receivables, payables and receipts by state for
individual and small group plans.
AFFORDABLE CARE ACT (ACA) RECEIPTS, PAYMENTS, RECEIVABLES AND PAYABLES
Current Year
Prior Year
Comprehensive Health
Comprehensive Health
Coverage
Coverage
1
2
3
4
Small Group
Small Group
Individual
Employer
Individual
Employer
Plans
Plans
Plans
Plans
ACA Receivables and Payables
1.
Permanent ACA Risk Adjustment Program
1.0 Premium adjustments receivable/(payable)
2.
Transitional ACA Reinsurance Program
2.0 Total amounts recoverable for claims (paid & unpaid)
XXX
XXX
3.
Temporary ACA Risk Corridors Program
3.1 Accrued retrospective premium
3.2 Reserve for rate credits or policy experience refunds
ACA Receipts and Payments
4.
Permanent ACA Risk Adjustment Program
4.0 Premium adjustments receipts/(payments)
5.
Transitional ACA Reinsurance Program
5.0 Amounts received for claims
XXX
XXX
6.
Temporary ACA Risk Corridors Program
6.1 Retrospective premium received
6.2 Rate credits or policy experience refunds paid
2015-21BWG
AFFORDABLE CARE ACT (ACA) RECEIPTS, PAYMENTS, RECEIVABLES and PAYABLES
Current Year
Prior Year
Comprehensive Health
Comprehensive Health
Coverage
Coverage
2
Small
1
2
1
Small Group
Group
Employer
Individual
Employer
Individual
Plans
Plans
Plans
Plans
ACA Receivables and Payables
1.
Permanent ACA Risk Adjustment Program
1.0 Premium adjustments receivable/(payable)
2.
Transitional ACA Reinsurance Program
2.0 Total amounts recoverable for claims (paid & unpaid)
XXX
XXX
3.
Temporary ACA Risk Corridors Program
3.1 Accrued retrospective premium
3.2 Reserve for rate credits or policy experience refunds
ACA Receipts and Payments
4.
Permanent ACA Risk Adjustment Program
4.0 Premium adjustments receipts/(payments)
5.
Transitional ACA Reinsurance Program
5.0 Amounts received for claims
XXX
XXX
6.
Temporary ACA Risk Corridors Program
6.1 Retrospective premium received
6.2 Rate credits or policy experience refunds paid
Polling Question
#2
For Schedule D, Part 1 description column report only what is
reported in:
A.
B.
C.
D.
Electronic issuer column
Electronic issue column
ISIN number column
None of the above is correct
43
RISK-BASED CAPITAL
CHANGES – YEAR-END 2015
44
Learning Objectives
• Describe the reporting changes for the risk-based capital formula
by line of business for year-end 2015
– Health
– Life/Fraternal
– Property/Casualty
45
Crystal Brown
NAIC
Sr. Insurance Reporting Analyst - RBC
– Maintains the Health Risk-Based Capital
Formula and Supports the UCAA application
– Supports Health Risk-Based Capital (E) Working Group
– Supports Health Risk-Based Capital Drafting Group (informal)
– Supports Company Licensing Transactions (E) Subgroup
– Joined NAIC in May 2006
– Bachelor’s Degree – Business Administration
– Contact email information: cbrown@naic.org
NAIC RBC Contacts
Capital Adequacy (E) Task Force
Jane Barr - Manager I – Company Licensing & RBC
jbarr@naic.org
816-783-8413
Health Risk-Based Capital (E) Working Group and Health RBC Formula
Crystal Brown - Sr. Insurance Reporting Analyst - RBC
cbrown@naic.org
816-783-8146
Life Risk-Based Capital (E) Working Group and Life & Fraternal RBC Formulas
Dave Fleming - Sr. Insurance Reporting Analyst - RBC
dfleming@naic.org
816-783-8121
Property/Casualty Risk-Based Capital (E) Working Group and P/C RBC Formula
Eva Yeung - RBC Technical Lead/Reporting Analyst
eyeung@naic.org
816-783-8407
47
2014-24-H, 2014-39-L and 2014-30-P – Risk
Adjustment & Risk Corridor Sensitivity
Test – New Page
48
2014-25-H – Medicare, Medicaid and Other MLR – Page XR012-A
2014-36-L & 2014-31-P – Underwriting Risk – Experience
Fluctuation Risk - Info Only Page LR020-A, FR020-A & PR020-A
49
2014-26-H – Pandemic and Biological Risk
Interrogatories
50
2015-01-H – Investment Affiliates – Type Code 5 and Formula
2015-02-H – Clarification to Affiliates that are Subject to RBC
Instructions
2015-01-H - The purpose of the change was to simplify the calculation
of the charge for Investment Affiliates by applying a straight factor times
the carrying value of the common and preferred stock.
A correction to the formula calculation was also made in conjunction with
this change on page XR002
2015-02-H - The purpose of this proposal was to clarify the instructions
for Affiliates that are Subject to RBC and to ensure that the formula and
instructions matched.
51
2015-06-H – Instructional Change for Other
Coverages on page XR012 & XR012-A
52
2014-32-L Treatment of Cash Collateral Pledged
for Derivatives
Page LR012 – Miscellaneous Assets
LR017 – Off –Balance Sheet and Other Items
53
2014-33-L XXX and AXXX Qualified
54
2014-35-L Shortfall of Primary Securities
55
2014-42-L RBC Shortfall
56
2015-16-L C-3 Phase 1 Informational Filing
57
2014-27-CR R6 and R7 Contingent Credit Risk
2015-04-CR EP Curve Sorting
2015-10-CR OEP Basis Factors for R6 &R7
58
2014-37-CR Exemption Criteria (Structure &
Wording
59
2014-40-CR Attestation for Cat Risk Charge
Methodologies
The structure change allows companies to indicate which of
the methodologies was used to sort the net and gross
probable maximum losses. The purpose is to collect data on
how companies are deriving their modeled catastrophe
losses.
60
2014-38-P R3 Credit Risk (For Informational
Purposes ONLY)
61
2015-07-P Asset Concentration – LIHTC &
WCFI
62
2015-08P Valuation Basis Column on the
Affiliated Investments Page
63
2015-11P Underwriting Risk Line 1 for Reserves Industry
Average Development Factors and Net Written Premiums
Industry Average Loss and Expense Ratios Factors
64
2015-12CR Line 1 Ex-Cat Industry Average Loss
and Expense Ratios and Line 4 Ex-Cat Industry
Losses and Loss Adjustment Expense Ratio
65
2014-22-CA Instruction Clarification for RBC Requirement
Amounts, TAC and RBC Factors
2015-03- CA Jurat Signature Requirements
2014-22-CA
2015-03-CA
2014-23-CA AVR is limited to the Amount not
used in Asset Adequacy Testing (Health & P/C)
• Footnote Change:
Instructions Change:
“The portion of the AVR that can be counted as capital is limited to the
amount not utilized in asset adequacy testing in support of the Actuarial
Opinion for reserves.”
2015-05-CA ACA Fee Sensitivity Test Instruction change and
reference change
2015-09-CA Broker’s Receivables Factors
2015-05-CA
2015-09-CA
Health – 0.026
Life – 0.014
P/C – 0.027
2015-13-O – Operational Risk Factors (Informational Only)
2015-17-CA – RBC Procedures
2015-13-O
2015-17-CA
• Developed procedures for the Capital Adequacy Task Force and
all RBC related Working Groups and Subgroups.
• Developed procedures for proposal submissions, exposures,
adoptions and posting of adopted proposals until RBC
publications are available.
Closing Remarks
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70