With the filing season for the 2011 Annual Statement well under way, let me take the opportunity to wish everyone another successful filing season!
The NAIC also takes advantage of this time of year to post new Guidance for the current Annual Statement Filing. This year is no exception, as this month the NAIC has posted important clarifications and guidance to the Blanks Working Group website impacting your 2011 Annual Filing. Please review the six documents in the following zipped file: naicguidance2011.zip.
The aforementioned six documents cover:
1. SSAP 43R Structured Securities Flow Chart – NAIC Designation Assignment.
2. Removal of the NAIC Designation ‘SM' suffix, effective with 2011 Annual reporting.
3. Guidance for reporting prior year amounts for credit tenant loans on D Part 1A.
4. Guidance on the definition of U.S. Government Bonds for 2011 Annual and 2012 Quarterly reporting.
5. Further clarification of the disconnect between the Dec. 31, 2011 Purposes and Procedures Manual and the definition of U.S. Government Bonds for 2011 Annual and 2012 Quarterly reporting.
6. Schedule Y Part 1 and Part 1A Implementation Q&A document.
In the meantime, I will continue to monitor the NAIC BWG website for new developments.
Also, please note that the NAIC has posted the 2011 Annual Filing Directive. Significant revisions include:
1. The NAIC Internet Filing link has been updated, Page 7.
2. A PDF Guidelines section has been added, Page 10.
3. Electronic Filing requirements for Schedule Y – Part 1 have been removed, Page 22, 29, 35, 41 and 46.
4. Electronic Filing requirements for Property & Casualty Statement of Actuarial Opinion Exhibits (SAOEASCOPE & SAOEBDISCLOS) have been added, Page 23 and 46.
5. Electronic Filing requirements for Director and Officer Insurance Coverage Supplement have been added, Page 23
6. The Supplemental Health Care Exhibit now excludes reporting for Canada and Other Aliens, Page 24, 30, 35 and 42.