Consulting Services to Insurance Regulators
April 17, 2019
Pension Risk Transfers – What Every Examiner Should Know
Authored by: Ben Leiser and Todd Muchnicki Published in: SOFE: The Examiner, Spring 2019 The most common and natural counterparty to the corporate plan sponsor are insurance companies. As PRT business is a growth area within the insurance industry, a target area of focus in a risk-focused exam related to current or prospective risks, in...
March 25, 2019
The Evolving Landscape of US Insurer Investments
Authored by: Edward Toy – Senior Manager, Investment Specialist Over time, the investments of US insurers have changed. This has been inevitable as market dynamics have shifted and US insurers have needed to adjust investment strategies and practices to accommodate. In recent years, the evolution has accelerated as US insurers have been driven, as have...
January 4, 2019
2018 Year in Review
Authored by: Edward Toy – Senior Manager, Investment Specialist 2018 began in many respects following the trends of 2017. The second half of the year, however, saw a dramatic increase in volatility and uncertainty. This was driven by concerns over the economy as forecasts began to show slowing global growth, including in the US, and...
October 27, 2018
Climate Change – Taking the Temperature of the Insurance Industry and State
Authored by: Barry Wells Published in: IRES: The Regulator, Winter 2018 Reality or “Fake News”? Science based or science fiction? The debate continues, and while these are certainly important considerations, you’ll find no answers to these particular questions in this offering. Rather, Interested Reader, the intent of this article is to share a high level...
June 20, 2018
Why States Should Perform MLR Exams and What Do I Need to Know
Authored by: Barbara Bartlett and Christopher Rushford Published in: SOFE: The Examiner, Summer 2018 The Medical Loss Ratio (MLR) ensures that policyholders receive value for the premium they pay for their health insurance coverage. The MLR exams are about validating that health insurance issuers (issuers) offering commercial individual or group health insurance coverage are complying...
June 16, 2018
A Review of Root Cause in Insurer Insolvencies and Impairments
Authored by: Dave Heppen and Veronika Cooper Published in: SOA, The Financial Reporter, June 2018 In 2016 and 2017, we conducted a study of root causes in insurer insolvencies and impairments, with the focus on analyzing potential risk factors and prevention measures. The study was sponsored by the Canadian Institute of Actuaries, Casualty Actuarial Society...
June 14, 2018
I Don’t Have to Worry About PBR for Health Insurance, Right
Authored by: Patricia Matson and Leslie Jones Published in: SOA, The Financial Reporter, June 2018 Well, we hate to say it, but that is not correct. While it may be true that, in general, the current post- PBR standards are similar to the pre-PBR standards at the moment, the truth clarify is the is that...
May 8, 2018
RRC Response to the Questions in the NAIC Group Capital Calculation Working Group
From: Tricia Matson & LeeAnne Creevy To: David Altmaier, Chair At the Spring National Meeting, the National Association of Insurance Commissioners (“NAIC”) Group Capital Calculation Working Group (“GCCWG”) exposed a memo from NAIC staff dated February 28th (updated for comments from the March 24th meeting) that included a proposed approach to determining the scope of...
January 12, 2018
RRC Response to the NAIC Big Data (EX) Working Group regarding the Regulatory Framework – Proposed Structure and Issues for Discussion
From: John Humphries, Dave Heppen, and Debbie Rosenberg - Risk & Regulatory Consulting, LLC To: Tim Mullen, NAIC Director of Market Regulation Risk & Regulatory Consulting, LLC (“RRC” or “we”) supports the efforts of the Big Data (EX) Working Group (“Working Group”) to outline a process for determining whether changes to the current regulatory framework...
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Request for Comments on Receivership Model Law – Working Group’s Draft Proposed revisions to the Life and Health Insurance Guaranty Association Model Act (#520)