After the National Meeting in August, NAIC activity lightened up a little during September. Here is a quick summary of some of that activity.
Mutual Recognition of Jurisdictions Working Group – Via Email, September 4, 2026
The Working Group has received three applications to be reviewed and evaluated for Qualified Jurisdiction status. As part of that process, the Working Group released for a 60-day comment period ending November 2, 2026 the names of those jurisdictions. The jurisdictions are:
- Cayman Island Monetary Authority
- Republic of Korea’s Financial Services Commission (FSC) and Financial Supervisory Service (FSS)
- Guernsey Financial Services Commission
Comments can be submitted publicly or confidentially. Separate comment letters are to be submitted for each jurisdiction.
Financial Conditions (E) Committee – Via Email, September 8, 2026
The E Committee released for comment its and its direct report working groups proposed charges for a 30-day comment period ending October 8, 2026.
The focus of this meeting was the possible inclusion of severe convective storms (proposal 2026-13-CR) in the Property/Casualty Risk-Based Capital (RBC) formula. Comments that had been received during the comment period were discussed and a few editorial changes were made to the proposal, but no significant revisions. An implementation impact study of officially adding both wildfire and convective storms to the formula was provided. The study took previous RBC filings and analyzed how many companies might have triggered a different RBC action level with the additions. It is expected that the severe convective storm discussion will continue at the NAIC Fall National Meeting in November. Both the Working Group and the Subgroup reviewed their working agendas. Of note is the possibility of adding a correlation calculation between hurricane, wildfire, and severe convective storms to the 2027 formula.
Capital Adequacy Task Force – Via Email, September 28, 2026
The Task Force released for comment revisions to the RBC procedures effective 2027. Revisions delete a sentence that could be construed as a possible extension of structural changes adoption to July 30 and added wording indicating the Task Force or any of its Working Groups can appoint drafting groups to study proposals and/or address other specific issues. The comment period ends October 28, 2026. The exposure draft can be found on the Task Force’s webpage.
Expect NAIC activity to significantly increase in October, as groups get ready for the NAIC National Meeting in November.
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