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Insurance Topics | Reinsurance | NAIC Issue: Reinsurance, often referred to as “insurance for insurance companies,” is a contract between a reinsurer and an insurer In this contract, the insurance company—the cedent—transfers risk to the reinsurance company, and the latter assumes all or part of one or more insurance policies issued by the cedent
Reinsurance Asset Adequacy Testing (AAT) 6 20 2024 Reinsurance AAT – Today’s Discussion Move towards developing consensus on concepts Plan next steps towards details and Actuarial Guideline (AG) wording
Microsoft Word - SLHB Chapters. doc A reinsurance intermediary acts as a broker in soliciting, negotiating or procuring the writing of any reinsurance contract or binder Reinsurance intermediaries act as insurance producers in accepting any reinsurance contract or binder on behalf of an insurer The NAIC has adopted the Reinsurance Intermediary Model Act (#790), which contains a simplified registration process for nonresident
Credit for Reinsurance Model Brief The NAIC Credit for Reinsurance Model Law The NAIC Credit for Reinsurance Model Law (#785) and Model Regulation (#786) strengthen state regulation, prevent regulatory arbitrage, protect U S policyholders, and reduce the uncertainty faced by insurers when planning for collateral liability
Microsoft Word - 075_m. docx SUMMARY OF ISSUE Reinsurance is the assumption by an insurer of all or part of a risk undertaken originally by another insurer Current statutory guidance on the accounting for property and casualty reinsurance is contained in Chapters 7, 8, and 22 of the Accounting Practices and Procedures Manual for Property and Casualty Insurance Companies (P C Accounting Practices and Procedures Manual)
Reinsurance Brief The global reinsurance market plays a critical role in managing catastrophic risk for companies worldwide, especially in the U S The P C reinsurance market in the U S features a mix of domestic and international reinsurers
Materials - Reinsurance (E) Task Force Preface to Credit for Reinsurance Models The amendments to the NAIC Credit for Reinsurance Model Law (#785) Regulation (#786) are part of a larger effort to modernize reinsurance regulation in the United States The NAIC initially adopted the Reinsurance Regulatory Modernization Framework Proposal during its 2008 Winter National Meeting The NAIC recommended that this framework be
Reinsurance (E) Task Force 2025 Charges The Reinsurance (E) Task Force will: Provide a forum for the consideration of reinsurance-related issues of public policy Oversee the activities of the Reinsurance Financial Analysis (E) Working Group Coordinate with the Mutual Recognition of Jurisdictions (E) Working Group on matters regarding reinsurance
U. S. REINSURANCE COLLATERAL WHITE PAPER The purpose of this white paper is to provide, at the request of the NAIC’s Reinsurance Task Force, a balanced synopsis of the historical arguments in favor of and against amending U S reinsurance collateral requirements This report was written to provide the task force with a basis, in whole or in part, to make public policy recommendations intended to address future developments
Preface to Credit for Reinsurance Models For reinsurance ceded under reinsurance agreements with an inception, amendment or renewal date on or after January 1, 1993, the trust shall consist of a trusteed account in an amount not less than the respective underwriters’ several liabilities attributable to business ceded by U S domiciled ceding insurers to any underwriter of the group