Nov 25, 2014
From the Financial Reporting View
This edition of Issues & Trends In Insurance reports that the National Association of Insurance Commissioners (NAIC) held its Fall meeting in Washington, D.C., from November 14-19 and continued its discussions on initiatives related to captives and special purpose vehicles and principles-based reserving. During the meeting the Actuarial Guideline XLVIII (AG 48) was forwarded to the Executive and Plenary Committee for adoption. AG 48 establishes uniform, national standards governing XXX or AXXX reserve financing arrangements. The NAIC also adopted the Issue Paper on accounting for reinsurance, risk adjustment, and risk corridor and exposed SSAP No. 107, Accounting for the Risk-Sharing Provisions of the Affordable Care Act, with a comment period ending December 8, 2015. This edition of Issues & Trends briefly describes these topics and other actions taken at the Fall meeting.