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NAIC Focus: NAIC for September

The Summer NAIC National Meeting was held in San Diego. It was a very unusual meeting, as several of the groups that Connie normally reports on did not hold meetings. There were no risk-based capital activity for any of the formulas, no activity from the Investment RBC Working Group, and the Blanks Working Group didn’t meet either. Most unusual. There were still lots of other meetings, however. So let’s take a look at them..

Financial clients can read the entire article on Lifeline.

NAIC Focus: NAIC for July

June was the month that the NAIC finalized the reporting format and instructions for the Annual Statement. That happened during the June 16, 2016 Blanks Working Group conference call. The good news is there are no “left overs” from the call that still require attention. Let’s take a look at the activity that took place during the call.

Financial clients can read the entire article on Lifeline.

NAIC Focus: NAIC in November

When Connie arrived in National Harbor, Maryland (Washington, D.C. area) for the November Meeting of the NAIC, it looked and felt like autumn. Temperatures were mild and the trees were colorful. By the time she left, four days later, it had definitely turned to winter. No snow, but autumn was gone. Here’s a look at the activity of this last National Meeting of the year from the well-attended Investment RBC Working Group to the Reinsurance Task Force, which ran out of time and decided to re-expose all five options and discuss further during a December conference call.

NAIC Focus: NAIC Summertime Activity - July 2015

Lazy days of summer, right? Not quite. The time between the NAIC March meeting and the next NAIC meeting in August is more than four months. That is a long time for no NAIC activity to occur. Summertime or not, NAIC business does continue and should not be overlooked. This edition of the Focus will bring you up to date on accounting and reporting activity that has happened since March.

NAIC Focus: RBC, TAC, ACL and Other Letters - May 2015

Welcome to the world of RBC, which includes a number of acronyms (more than showing in the title). In the April edition of the NAIC Focus, Connie promised you the next Focus would include the latest information on the 2015 RBC formulas. So here we go. Some highlights from this edition:

NAIC Focus: Records Broken in Phoenix - April 2015

The NAIC’s first National Meeting of 2015 was held in Phoenix. Connie can testify that records were broken in Phoenix. Record temperatures that is; not NAIC records. The March meetings are always a little different from the other meetings, as many times the committees have new Chairs. This year was no exception. With the NAIC off to a productive and somewhat quiet start, Connie is back with her recap of the activity that occurred in Phoenix:

NAIC Focus: Finished? Ready, Set, GO! - March 2015

By now most of you have completed your annual statement and other associated year-end filings. Congratulations! You made it once again. But, unfortunately, this is not the time to rest. Everything you let slide for the first two months of the year is waiting on you and that includes getting ready for 2015 reporting; first quarter reporting in particular.

NAIC Focus: BOGO - December 2014

Here it is year-end again, and there's so much going on that Connie is offering two updates for the price of one!

OK, so the price is free, but you get the point.

In this issue, Connie offers her annual year-end checklist, and recounts highlights from the final national NAIC meeting of the year:

Blanks Working Group: reporting guidance for the Supplemental Health Care Exhibit adopted, two new proposals exposed for comment

Statutory Accounting Principles Working Group (SAPWG): adoptions and items exposed for comment

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Connie Jasper Woodroof

NAIC Liaison - Connie Jasper Woodroof

NAIC Liaison

Connie is a seasoned statutory accountant and educator who serves as the NAIC Liaison for StoneRiver. She regularly attends NAIC meetings to stay abreast of current and anticipated changes in regulatory reporting. Her long-range view and interpretation of the trends is invaluable to clients in applying new requirements, and preparing for anticipated changes.

Connie is active in IASA and is a frequent speaker at IASA Chapter meetings around the country, as well as the IASA's Annual Educational Conference and Business Show.

Prior to joining StoneRiver, Connie was the Financial Reporting Education Coordinator for the NAIC. She came to the NAIC with ten years of experience preparing annual statements in both the Life and P&C industries. Woodroof earned her bachelor's degree in accounting from Ball State University in Muncie, Indiana and holds the designation of FLMI, and a Masters Degree in General Psychology from the University of the Rockies, Colorado Springs, Colorado.