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IN THIS EDITION:

• Introduction
• Life Actuarial (A) Task Force
• Long-Term Care Actuarial (B) Working Group
• Statutory Accounting Principles (E) Working Group
• Long-Term Care Insurance (B) Task Force
• Financial Stability (E) Task Force
• Privacy Protections (H) Working Group
• Special (EX) Committee on Race and Insurance
• Valuation of Securities (E) Task Force
• International Insurance Relations (G) Committee
• Annuity Suitability (A) Working Group
• Receivership and Insolvency (E) Task Force
• Accounting Practices and Procedures (E) Task Force
• Capital Adequacy (E) Task Force
• Cybersecurity (H) Working Group
• Third-Party Data and Models (H) Task Force
• Life Insurance and Annuities (A) Committee
• Financial Condition (E) Committee
• Health Insurance and Managed Care (B) Committee
• Innovation, Cybersecurity, and Technology (H) Committee
• CIPR Event
• Joint Meeting of Executive (EX) Committee and Plenary

Introduction

Below is a preview of the guaranty association–related meetings scheduled for the NAIC’s 2024 Fall National Meeting in Denver, which will be held on November 16–19. A detailed program agenda on the NAIC website includes the most current dates and times of all meeting sessions, as well as any events before or after the national meeting.

Life Actuarial (A) Task Force

The task force will (A) discuss comments received on the Asset Adequacy Testing (AAT) for Reinsurance Actuarial Guideline (AG) draft, and (2) hear updates on:

• The Generator of Economic Scenarios (GOES) field test
  
• Regulators’ reviews of AG 53 reports
  
• Historical Mortality Improvement (HMI) and Future Mortality Improvement (FMI)
  
• The Society of Actuaries’ Education Redesign and other research and education
  
• The Academy’s: (1) Council on Professionalism and Education; (2) Life Practice Council; and (3) Life Knowledge Statements

Action items include:

• Consider GOES Equity Calibration and U.S. Treasury Flooring Options
  
• Consider re-exposure of APF 2024-13 (IMR Clarification)
  
• Consider adoption of APF 2024-14 (Surrender Charge Waivers)
  
• Consider exposure of APF 2024-15 (SPA mortality correction with little or no company experience)

The task force will also discuss the Universal Life Nonforfeiture product filing issue and hear a presentation from the American Council on Gift Annuities on Charitable Gift Annuities.

Long-Term Care Actuarial (B) Working Group

The working group will continue discussion on proposed modifications to the Minnesota Approach for use as the single LTCI multistate review approach; this will be considered for adoption following the discussion.

Statutory Accounting Principles (E) Working Group

The working group’s agenda includes review and adoption of non-contested positions:

• Ref #2024-11: ASU 2023-09, Improvements to Income Tax Disclosures
  
• Ref #2024-17: Clearly Defined Hedging Strategy
  
• Ref #2024-18: Clarification to NMTC Project
  
• Ref #2024-19: ASU 2024-02, Codification Improvements, Amendments to Remove References to the Concepts Statements

As well as review of comments on exposed items:

• Ref #2019-21: INT 24-01 – Principles-Based Bond definition implementation questions and answers
  
• Ref #2023-28: Collateral Loan Reporting
  
• Ref #2024-16: Repack and Derivative Investments

The working group will also expose the following new items for comment:

• Ref #2024-20: Restricted Asset Clarification
  
• Ref #2024-21: Investment Subsidiary Classification
  
• Ref #2024-22: ASU 2024-01, Scope Application of Profits Interest and Similar Awards
  
• Ref #2024-23: Derivative Premium Clarifications
  
• Ref #2024-24: Medicare Part D – Prescription Payment Plan
  
• Ref #2024-25: SSAP No. 16 ASU Clarification
  
• Ref #2024-26EP: Fall 2024 Editorial Revisions

The group will hear updates on:

• IMR ad hoc subgroup
  
• Reinsurance exposures
  
• Use of third-party vendors to determine bond definition compliance
  
• U.S. GAAP exposures
  
• Bond definition implementation
  
• IAIS audit

Long-Term Care Insurance (B) Task Force

The task force will (1) discuss the LTCI Multistate Actuarial Rate Review Methodology; (2) hear an update from CIPR on Reduced Benefit Options (RBOs) and Consumer Notices research; and (3) hear an update on LTCI industry trends.

Financial Stability (E) Task Force

The task force will receive updates on:

• Macroprudential Working Group activities
  
• Valuation Analysis Working Group activities
  
• FSOC developments
  
• International activities

The meeting will also feature exposure of the proposed 2024 Liquidity Stress Testing framework.

Privacy Protections (H) Working Group

The working group will:

• Consider approval of an extension of time to draft revisions to the Privacy of Consumer Financial and Health Information Regulation (#672)
  
• Discuss next steps for drafting amendments to Model #672
  
• Hear an update on federal privacy legislation
  
• Hear a presentation on privacy principles proposed by NAIC Consumer Representatives

Special (EX) Committee on Race and Insurance

The committee will:

• Consider adoption of its 2025 proposed charges
  
• Receive a status report from its workstreams (health, life, P&C)
  
• Receive an update on the Member Diversity Leadership Forum

Valuation of Securities (E) Task Force

The task force will consider adoption of P&P Manual revisions to:

• Require annual reviews of regulatory transactions
  
• Update the list of NAIC credit rating providers and use of CRP ratings
  
• Remove references to Subscript S and update references to investment risk

The task force will also hear updates on SAPWG activities, the status of private rating letter rationale report filings, and the development of the CLO modeling methodology.

International Insurance Relations (G) Committee

The committee will:

• Consider adoption of 2025 proposed charges
  
• Hear an update on conclusions of the IAIS Comparability Assessment and IAIS activities
  
• Hear an update on international cooperation activities, including Regional Supervisor Cooperation and the Organisation for Economic Co-operation and Development (OECD)
  
• Hear an update on international climate-related activities, including the Sustainable Insurance Forum (SIF) and international events

The meeting will be followed by the IAIS Secretariat Q&A Session with Interested Parties.

Annuity Suitability (A) Working Group

The working group will discuss the Working Group Chair draft Safe Harbor Guidance document.

Receivership and Insolvency (E) Task Force

The task force will:

• Receive proposals for enhancements to the Global Receivership Information Database (GRID)
  
• Hear a report on international resolution activities from Bob Wake (ME)

Accounting Practices and Procedures (E) Task Force

The task force will consider adoption of its Working Groups reports.

Capital Adequacy (E) Task Force

The task force will hear updates on collateral loans from SAPWG and an update from the Health RBC Working Group. Action items include:

• Consider adoption of Proposal 2024-22-CR (2015 – 2023 Severe Convective Storm Event Lists)
  
• Consider adoption of Proposal 2024-23-CR (Jan – Oct 2024 Cat Event Lists)
  
• Consider exposure of Proposal 2024-25-CA (Principle-Based Bond Project for P/C and Health)
  
• Consider exposure of Proposal 2024-26-CA (Tax Credit Investments for P/C and Health)
  
• Consider adoption of its working agenda

Cybersecurity (H) Working Group

The working group will:

• Hear comments on the Confidential Cybersecurity Event Repository & Portal (CERP)
  
• Hear a presentation on incident response management and lifecycle
  
• Receive updates on its workstreams
  
• Hear a summary on 2024 activities and a preview of the 2025 work plan

Third-Party Data and Models (H) Task Force

The task force will:

• Hear current state solutions to regulatory issues with third parties
  
• Discuss the task force’s next steps

Life Insurance and Annuities (A) Committee

The committee will:

• Hear a federal update from NAIC staff
  
• Consider adoption of the reports of the LATF and the Annuity Suitability Working Group
  
• Hear an update from the SCORI Life workstream
  
• Hear presentations from ACGA on charitable gift annuities and from CAIF on insurance fraud in the life and annuity markets

Financial Condition (E) Committee

The committee will:

• Consider adoption of Qualified Jurisdictions and Reciprocal Jurisdictions
  
• Receive a status update on the draft Reinsurance Asset Adequacy Actuarial Guideline
  
• Receive status reports from the RBC IRE Working Group and VOSTF

Health Insurance and Managed Care (B) Committee

The committee will consider adoption of its 2025 proposed charges and its task forces’ 2025 proposed charges. They meeting will also include:

• A presentation by NORC at the University of Chicago on Proposed Research to Assess the Use of Artificial Intelligence (AI) to Conduct Utilization Management
  
• A presentation by CIPR on Small Group Market Trends
  
• An update from the CMS’ Center for Consumer Information and Insurance Oversight (CCIIO)

Innovation, Cybersecurity, and Technology (H) Committee

The committee will consider adoption of its 2025 proposed charges and hear presentations on:

• The Use of AI to Help Mitigate Wildfire Risk from FireBreak Risk


• Responsible Use of AI from InsurTech Coalition Members

CIPR Event

The title of the event is Commercial Real Estate – Assessing Insurers’ Short-Term and Long-Term Exposure, and the presentation will feature a discussion on the short- and long-term risks associated with insurer commercial real estate investments and how the industry and regulators are addressing these challenges. Presenters will also discuss the role these investments play in community development and the broader economy.

Joint Meeting of Executive (EX) Committee and Plenary

Relevant agenda items:

• Consider adoption of the 2025 Generally Recognized Expense Table and the P&P Manual amendment authorizing regulator discretion over NAIC Designations assigned through the Filing Exemption process
  
• Receive all letter committee reports
  
• 2025 Officer Elections