Issues & Trends   |   August 2017

 

Insurance: NAIC 2017 summer meeting

KPMG reports on actions taken on conference calls and at the Summer 2017 meeting of the National Association of Insurance Commissioners. The NAIC discussed recent accounting change and regulatory developments impacting insurance companies.

Applicability

NAIC 2017 Summer Meeting

  • All insurance companies

Relevant dates

  • Effective immediately

Key impacts

As part of its discussions, the NAIC adopted:

  • Changes to the principles-based reserving company-wide exemption model
  • The Insurance Data Security Model Law
  • The Long Term Care Actuarial Guideline for stand-alone asset adequacy tests for long-term care contracts

Report contents

  • Investments
  • Principles-based reserving
  • Cybersecurity
  • Group capital calculation
  • Qualified jurisdictions
  • Risk-based capital
  • Long-term care
  • Other accounting highlights
  • Other actuarial highlights


 

 

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