SSAP and Blank Updates to the Statutory Financial Statements – December 16, 2020 BWG Conference Call

The Blanks Working Group (“BWG”) held a conference call on December 16, 2020, to review and adopt four previously exposed positions outlined below as well as consider the adoption of one previously deferred item.

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.

  • 2020-28BWG: This item removes the disclosure for the federal Affordable Care Act (ACA) Section 9010 Assessment from Note 22Events Subsequent and corresponds with the disclosure changes adopted by the SAPWG (Ref #2020-05). (L/P/H)
  • 2020-29BWG: This item modifies the investment schedules instructions and blank to remove the line category and reference to the NAIC Bond Fund List (Bond List). This item is being modified to reflect disclosure changes adopted by the SAPWG, superseding SSAP No. 26R – Bonds and SSAP No. 30R – Unaffiliated Common Stock to eliminate references to the Bond List (Ref #2020-01). (L/P/H/T)
  • 2020-30BWG Modified: This item moves the interrogatory question regarding “Communication of Internal Control Related Matters Noted in the Audit” from the Annual Supplemental Exhibits and Schedules Interrogatories to the Quarterly Supplemental Exhibits and Schedules Interrogatories, to be answered for the second quarter. For Title, a new page in the quarterly statement will be added for the Supplemental Exhibits and Schedules Interrogatories. (L/P/H/T)
  • 2020-31BWG: This adoption replaces the Life, Health and Annuity Guaranty Association Model Act Assessment Base Reconciliation and the Adjustments to the Life, Health and Annuity Guaranty Association Model Act Assessment Base Reconciliation Exhibits with modernized exhibits. This replacement is being adopted in order to promote consistent reporting of assessable premiums among industry members and to reflect changes in guaranty association laws adopted over the past two decades. The exhibits are to continue to be filed as stand-alone April supplemental exhibits. (L/P/H)

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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