NAIC 2017 Summer National Meeting

21 August 2017
View Client Update

Key takeaways

  • As a result of the U.S. Treasury’s announced intent to sign the U.S.-EU Covered Agreement, a number of NAIC accreditation initiatives —affecting reinsurance, corporate governance disclosure and qualified jurisdictions —are being deferred until the impact of the Covered Agreement on these initiatives can be assessed.
  • The NAIC is exploring potential methods for collecting, reviewing and sharing with state regulators data about insurers’ use of “big data” rating models for personal automobile and homeowner insurance rate filings.
  • Recognizing recent challenges facing long-term care insurers, the NAIC has undertaken efforts to revise actuarial guidance for long-term care reserves and guaranty fund laws, and is considering a potential run-off facility for impaired or insolvent insurers.