ࡱ> y{x#` Bbjbj 3"=/HHHH|||8$2%$$$ $$$$$$$$$&h(b$!!!$HH$$$###!dH$Hl$$#!$##H,#$ Ǔ|A"d#}$4%02%#("(#(#p#pm$$'#2%!!!! xxHHHHHH  ANNOUNCEMENT PROPERTY AND CASUALTY INSURANCE (C) COMMITTEE PUBLIC HEARING REGARDING CATASTROPHE MODELING FRIDAY SEPTEMBER 28, 2007 15 p.m. EDT WASHINGTON, D.C. TO: Members of the оٷ The Property and Casualty Insurance (C) Committee The Catastrophe Insurance (C) Working Group The Terrorism Insurance Implementation (C) Working Group Interested Regulators and Interested Parties FROM: Eric Nordman DATE: August 30, 2007 SUBJECT: Catastrophe Modeling Public Hearing As announced at the оٷ Spring National Meeting, the Property and Casualty Insurance (C) Committee will hold a public hearing at the Fall National Meeting The purpose of the hearing is to address the Committee charge related to catastrophe modeling. The charge: Hold a public hearing at the 2007 Fall National Meeting to gather information on the appropriate regulatory framework for monitoring the activities of catastrophe risk modelers. Explore whether laws and regulations governing rating or advisory organizations are broad enough to be applied to catastrophe modeling vendors. Investigate recent changes by catastrophe modelers to shorten the time period used in hurricane models and consider whether scientific evidence supports these methodology changes. Explore whether a public model would be beneficial to assist insurance regulators in monitoring the activities of catastrophe modeling vendors and insurers that use the catastrophe loss cost information in their rating systems. Make recommendations regarding the appropriate regulatory framework, the appropriateness of the use of a reduced experience period in hurricane models, regulatory best practices for monitoring the activities of modelers and insurers use of modeled output and whether a public model should be developed by the 2007 Winter National Meeting. The hearing will be Friday, September 28 in the Washington 3Exhibition Level conference room at the Marriott Wardman Park, 2660 Woodley Road, NW, Washington, DC. Additional information about the оٷ Fall National Meeting is available at  HYPERLINK "http://www.naic.org" www.naic.org      SHAPE \* MERGEFORMAT   NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS Executive Headquarters 2301 McGee Street Suite 800 Kansas City MO 64108-2662 voice 816-842-3600 fax 816-783-8175 Government Relations Hall of the States 444 North Capitol St NW Suite 701 Washington DC 20001-1509 voice 202-471-3990 fax 202-471-3972 Securities Valuation Office 48 Wall Street 6th Floor New York NY 10005-2906 voice 212-398-9000 fax 212-382-4207 World Wide Web www.naic.org K~] w '0  -./;<=>@ACDFGIJMNrd\jh;9Ujh;9UmHnHujh;9UmHnHtHuhjhUhSh|(hBJ0J$jh|(hBJB*UphjhBJB*UphhBJB*phh}X h3 hJ&hBJh6FhBJCJaJhBJ56CJ \]aJ hJ&hBJ56CJ \]aJ hBJ#<Vk [ $a$gdBJ $^a$gdBJ 0]0^gdBJ$0]0^a$gdBJgdBJ=lA =?@BCEFHIjklno%d&d'dOPQ^gdBJ 0]0^gdBJ$h]h^a$gdBJNefghiklmno2E]2?ABhS h;9CJ h;9:H* h;9:@ h;9:; h;9:h;95;CJ h;9;h;9@CJ h}Yh;9jIh}Yh;9UhjhBJUjh;9UmHnHtHujh;9Uh;9!&12E]gugd;9$a$  !(12?@AB^gdBJ1 0:pBJ/ =!"#$% DyK  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