SSAP and Blank Updates to the Statutory Financial Statements – May 26, 2021 BWG Conference Call

The Blanks Working Group (“BWG”) held a conference call on May 26, 2021, to review and adopt eight previously exposed positions outlined below.

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 2021 Annual Statement, except where noted differently.

  • 2021-01BWG Modified: This item modifies the instructions and blanks to add clarifying language related to health care receivables. A reference to health care receivables on Line 24 – Health Care and Other Amounts Receivable on the Assets page for all filers will be added, the line description on Line 0699999 of the Health Care Receivables Supplement, Exhibit 3 (new to Life/Fraternal Annual Statement filers for the 2021 Annual) will be changed and the column headings in the Health Care Receivables Supplement, Exhibit 3A will also be modified. (L/P/H/T)
  • 2021-02BWG Modified: This item modifies the blanks and instructions for General Interrogatories, Part 1, Questions 8.1, 8.2, 8.5 and 8.6, changing “bank holding company” to “depository institution holding company” in Questions 8.1 and 8.2.  Questions 8.5 and 8.6 are new for 2021 Annual. (L/P/H/T)
  • 2021-03BWG: This item modifies the instructions and blanks for Separate Account Interrogatory Questions 1.01, 1.01A, 2.5 and 4.2. Additional category lines will be added to reflect more granularity in the product identifiers within the tables. This BWG proposal is associated with the Statutory Accounting Principles Working Group (SAPWG) Ref #2020-37 & Ref #2020-38, which were adopted on 5/20/2021. (Separate Accounts)
  • 2021-04BWG Modified: This item modifies the instructions and blanks, adding questions 24.1 and 24.2 to the Financial section of the General Interrogatories, Part 1.  All questions below them will be renumbered. This modification coincides with the adoption of SAPWG Ref #2019-24: Levelized and Persistency Commissions.  The questions were added upon the request of regulators, as they had expressed the desire for a general interrogatory to identify certain scenarios in which an insurer utilizes third parties to pay commission expenses. (L/P/H/T)
  • 2021-05BWG Modified: The instructions and illustrations will be modified for Note 17.B(4)b1(a), adding a data-captured table to assist regulators in their assessment of situations where an entity has transferred (or sold) assets but still retains a material participation in the transferred asset.  This item corresponds with the SAPWG adoption of Ref #2021-03 on May 20, 2021. (L/P/H/T)
  • 2021-06BWG: This item modifies the instructions to add crosschecks to the Long-Term Care Experience Reporting Forms. Crosschecks will be added to Columns 2, 3, 4, 6 and 7 of Form 5 to Form 1, Columns 8, 1, 2, 5 and 3, respectively. (L/P/H) 
  • 2021-07BWG: The purpose of this adoption is to expand the line categories listed in the instructions for Schedule D, Part 1, Column 26 – Collateral Type, so the column captures collateral type data for all RMBS, CMBS and LBSS securities, regardless of reporting category. (L/P/H)
  • 2021-08BWG Modified:  This item adds a new Mortgage Guaranty Insurance Supplement for Property filers writing Mortgage Guaranty insurance. The supplement will primarily be used by the domestic regulators to assess the capital level of the insurer and their overall financial solvency. The supplement will be due April 1st. (P)

Updates from prior meetings are available in Gain’s growing library of resources.

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.

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