Solvency Committee comments to the International Association of Insurance Supervisor (IAIS) on its concept paper, Common Framework for the Supervision of Internationally Active Insurance Groups. These comments further address the methods of operating group-wide supervision of internationally active insurance groups.
( )The ERM Committee submitted comments to the NAIC on its Own Risk and Solvency Assessment (ORSA) Guidance Manual supporting its view that the manual offers ORSA guidance which focuses on the most fundamental components of a strong ERM framework.
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The ERM Committee responds to the NAIC on its draft, Own Risk and Solvency Assessment (ORSA) Model Act regarding the ORSA requirements and exemptions from the requirements, specifically the treatment of captive insurers.
( )The ERM/ORSA Climate Related Financial Disclosures Working Group shared an update to the National Association of Insurance Commissioners (NAIC) Climate and Resiliency (EX) Task Force at its National Meeting. Work Group Chair, Michelle Young, and Academy Assistant Director of Research, Steve Jackson, shared the group's research and analysis thus far, along with plans for phase two of the project.
()The IFRS 17 Work Group of the Financial Reporting Committee submitted comments to International Financial Reporting Standards (IFRS) Foundation Interpretations Committee Chairperson Bruce Mackenzie on the foundation’s tentative agenda decision Transfer of Insurance Coverage under a Group of Annuity Contracts (IFRS 17).
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