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Market conduct data gathered by companies and delivered to regulators has been helpful in tracking down potential problems, according to Sue Stead, an Ohio regulator.
For instance, she says, information that was collected highlighted six life companies in which data stood out from the results of most companies.
Consequently, regulators will be taking a closer look at these companies to find out why they varied from most other insurers, says Stead, who heads up the market analysis work group at the National Association of Insurance Commissioners, Kansas City, Mo.
Because she says that regulators have found information valuable, both the life and property-casualty data calls will be repeated.
For life insurers, data for calendar year 2003 will be due in April 2004 and for property-casualty insurers, dates are under discussion, she says.
Work on data call questions for life companies will not reflect major changes but could include some changes to definitions, she says.
What is of concern to life insurers is that the data call be done in a uniform way rather than in a way that amounts to nine mini-exams, according to Linda Lanam, vice president and general counsel with the American Council of Life Insurers, Washington.
