fbpx

SSAP and Blank Updates to the Statutory Financial Statements – August 27, 2020 BWG Conference Call 

The Blanks Working Group (“BWG”) held a conference call on August 27, 2020, to review and adopt four previously exposed positions outlined below as well as consider the adoption of two previously deferred items.

Adopted Items

Each of the items below were adopted as proposed or modified with minor editorial or friendly amendments, with no additional comments from the BWG, regulators, or other interested parties. All adoptions are applicable to either the Life/Fraternal, Property, Health, and Title blanks, as specified by “L” for Life/Fraternal, “P” for Property, “H” for Health, and “T” for Title, or some combination thereof. Adopted items are effective for the Q1 2021 Quarterly Statement, except where noted differently.

  • 2020-24BWG Modified: This item removes questions 29, 30, 31, and 32 from the Supplemental Exhibits and Schedules Interrogatories, renumbers the remaining questions on the schedule and removes the instructions related to these actuarial filings. These items are being removed now that certifications for business subject to Actuarial Guideline XLIII will be provided in the PBR Actuarial Report as required by VM-31 (L). This item is effective for Annual 2021.
  • 2020-25BWG: This item adds a new Column 5 to the blank for Sch T with instructions to specifically capture the Children’s Health Insurance Premium (“CHIP”). Existing columns after the new column 5 will be renumbered. This change will assist regulators in identifying CHIPs/SCHIPs plan premiums associated with the Federal/State partnership created by Title XXI of the Social Security Act as it relates to guaranty fund assessments (H).
  • 2020-26BWG Modified: The purpose of this proposal is to reflect on Sch DB, Part D, Section 1 and the NTF the disclosure changes to SSAP No. 86 – Derivatives adopted by SAPWG. A new column 5 will be added to the schedule and the remaining columns will be renumbered. Instructions will be added for the new column 5, a column reference will be added to Column 7, and other column references to crosschecks will be adjusted. Column references to this schedule will also be updated on the Liability Page, Asset Page and Schedule DB Verification. Instruction language will be modified for the Note 8.A(8) disclosure (L/P/H/T).
  • 2020-27BWG Modified: This item adds a new category line (8799999) to Schedule E, Part 2 for Qualified Cash Pools Under SSAP No. 2R – Cash, Cash Equivalents, Drafts and Short-Term Investments and renumbers the remaining category lines. It adds a new data captured disclosure, 5R, to the Notes to Financial Statements. This disclosure was added to reflect requirements for qualified cash pools adopted for SSAP No. 2R by the Statutory Accounting Principles (E) Working Group (“SAPWG”) (see Ref #2019-42) (L/P/H/T).
  • 2020-22BWG Modified: This adoption will be effective for the 2021 Annual and modifies the instructions and illustrations for Note 3.A and a new Note 3.E with instructions and illustrations to be data captured. This item also modifies the blank and instructions for Schedule D, Part 6, Sections 1 and 2. The modifications were made to reflect changes that have been adopted for SSAP No. 68 – Business Combinations and Goodwill and SSAP No. 97 – Investments in Subsidiary, Controlled and Affiliated Entities by the SAPWG (see Ref #2020-03) (L/P/H/T).

Deferred Item

  • 2020-02BWG Modified: This item was intended to modify the instructions and illustration for Note 10.L to reflect the disclosure changes for SSAP No. 97 – Investments in Subsidiary, Controlled, and Affiliated entities outlined by SAPWG. This item was deferred in an effort to best match the concurrent SAPWG item, which has yet to be finalized and adopted (see Ref #2019-14) (L/P/H/T).

As always, Gain Compliance integrates the latest changes into the NAIC guidelines to streamline the reporting process. If there are any further questions or comments, please do not hesitate to reach out.

Make sure to check out our other the blog posts, and follow Gain Compliance on LinkedInFacebook and Twitter.