Accounting Standard Updates
NAIC SAPWG Accounting Update Matrix, Fall 2024 National Meeting
Hot Take:
JLK Rosenberger continues to bring you the latest decisions on the 2024 NAIC SSAP adoptions and exposures originating from the 2024 NAIC Fall National SAPWG meeting through November 17, 2024. You also get our non-technical “What’s the Rub” perspectives. Key features include the pending Principle-based Bond Q & A document, a new Principle-based bond project issue paper, the removal of the long-standing “R” designation associated with many SSAPs, and some interesting potential requirements for Modco or Funds Withheld segregated security reporting.
Full Article
JLK Rosenberger regularly attends the National Association of Insurance Commissioners (NAIC) meetings. To the left, you will find a recap of items brought before the Statutory Accounting Principles Working Group (SAPWG) during the meeting.
In addition to the standard update matrix provided by the NAIC, we have included commentary on each item and have organized the various categories by color code into high, moderate, and low priority based on the potential impact on insurers. Highly narrow topic items, as far as impact, are generally categorized as low priority.
The Spring National Meeting is scheduled for March 22 – 26, 2025, in Indianapolis, Indiana. Look for a newly updated matrix shortly after the meeting.
