RBC Tool Now Available

The NFCA is pleased to provide member* societies with an electronic workbook version of the 2009 National Association of Insurance Commissioners (NAIC) Fraternal Risk-Based Capital (RBC) Report.  To obtain this file, please e-mail Terry Whipple, Manager of Information Technology, at twhipple@nfcanet.org. 

The NFCA contracted with Affiliate Member Allen Bailey & Associates to provide this valuable tool.  Click here to learn more about the products and services that Allen Bailey & Associates can provide to your society.

*The file is available for purchase by Non-Members.

One Hour with the Allen Bailey & Associates RBC Team

As many of you are probably aware, a number of state insurance departments are especially focused this year on the fraternal RBC calculations that will be produced via the NFCA RBC spreadsheet tool.  A new law in New York now requires that all fraternals doing business in the state of New York submit this electronic NFCA RBC Excel file to them by March 15.  There are a number of common mistakes that companies make when using this tool that can result in a material misrepresentation of your society’s financial condition.  There are also steps that societies can take during 2010 to better position themselves for next year from an RBC perspective.  For a fee of $500, the RBC team at Allen Bailey & Associates would welcome the opportunity to spend one hour via phone with your society, to share this information with you as well as answer any specific questions that you may have regarding RBC.  Any assistance needed over the one hour call would go into a separate project with the fees to be decided between your society and Allen Bailey & Associates.  If this special NFCA service is of interest to you, please contact Allison Koppel, Vice President of Membership and Marketing, at the NFCA to schedule the call by contacting her at (630) 522-6322 x 121 or akoppel@nfcanet.org.