Submitted to agenda for initial vote: 13-December-2021
The mission of the Regulatory Reporting Data Model (RRDM) working group is to foster technical requirements and business-level conversations about the openIDL data model for regulatory reporting that encompass both State Statistical Reporting requirements and data calls; and to maintain all artifacts related to the model as decided by the group.
These conversations will initially be focused on creating the baseline model to enable automated regulatory reporting through openIDL, with an initial focus on statistical reporting. The focus will then transition to broader topics such as data calls.
The RRDM Group membership is composed of individuals from insurance companies and state regulators/agencies interested in consolidating statistical reporting data and state data call requirements into a single modern model for existing reports while also creating a model flexible and extensible enough to meet emerging reporting needs. Membership is open to staff with expertise in regulatory reporting, insurance data, and data modeling.
Membership is public information and posted to the working group Wiki. Potential members may submit their names and other information to the working group Chair for addition to the Wiki.
The RRDM will host meetings and discussions (in person and online) for member contributions to the model.
When the charter needs to be updated a request should be made to the RRSC. If the RRSC wishes to move forward with the request it will convene a new charter sub-committee to review and propose a change to the existing charter. The RRSC will vote to approve or reject the changes to the charter.
The Chair of the RRDM will rotate on an annual basis to give all working group participants the opportunity to facilitate meetings. Working group members are not required to hold the Chair position. The position is voluntary only.
This is an elected position. The vice chair is to succeed the chair. The chair position must belong to the active organization and member in good standing. Both chair and vice-chair shall rotate between the company and regulator representatives (e.g. if the chair is a regulator, vice-chair will be from a company).
RRDM Vice Chair
The vice chair of the RRDM will rotate on an annual basis to give all working group participants the opportunity to facilitate meetings. Working group members are not required to hold the vice chair position. The position is voluntary only.
This is an elected position. The vice chair is to succeed the chair. The vice chair member must belong to an active organization. Both chair and vice-chair shall rotate between a company and regulator representatives (e.g. if chair is a regulator, vice-chair will be from a company).
The secretary is responsible for producing minutes, actionable items and agreements, and commitments (ownership of actionable items) within 48 hours of the conclusion of the meeting.
This position requires a quarterly commitment. Ideally, one organization does not do it twice in a row.
A communications manager has the responsibility of coordinating the meetings with the registered members of the working group. A communications manager will serve for a period of 12 months.
The sole voting member of an organization. One voting member per member organization. An alternate must be pre-defined.
While regulators are associate members of OpenIDL they are voting members of RRWG.
Part of an organization, a participant in the discussion. Member has no voting rights unless designated as an alternate.
At minimum half of the voting members (RRWG) are present. Half of the regulators and half of the carriers must be present to reach quorum.
Each member organization receives one vote.
Adopting an Action
The RRWG will draft an item to be adopted. It shall be published as an agenda item for the next scheduled RRWG session with necessary and appropriate supporting material. At the next scheduled RRWG meeting, it will be presented by the chair for adoption.
A carrier group consisting of voting members for carriers and a regulatory group consisting of voting members of regulators. Each group will meet and discuss a proposal and as a group determines its viability. If both groups agree, then it is accepted. if they do not, it is rejected. If a split between company and regulator group item is available for further discussion until an acceptable alternative to both groups is found.
Members must be in good standing to vote.
Good standing is defined by: A dues paying member of Linux Foundation and openIDL.
In order to cast a vote, the voting member must be at the meeting, if not available an alternate must be sent. If an organization is not present their vote is forfeited.
RRDM Member Communication
The primary forum for this Working Group will be a group email list. This list shall be open to any subscriber and publicly archived, and moderated by openIDL staff or other volunteers. The email list should be considered the discussion system of record for the community.
The group may decide to also host conference phone calls, on an ad-hoc or recurring basis, which can be convened, and minutes recorded, by openIDL staff. This may be useful as a way to motivate the community towards a consensus on a position or hear from those for whom the email is too noisy.
However notes should be posted back to the email list, and important discussions or decisions should not be closed without input from the list. The group may also decide to meet face-to-face, for example at an NAIC conference where many participants will also be attending. As with phone calls, the mailing list should be updated on important points raised or notes taken, and important discussions or decisions should be brought to the list.
The group may elect to shift to a different tool than email, so long as the openIDL Regulatory Reporting Steering Committee agrees.
Approval of a version of the model that will be used for openIDL node implementation is by consensus with the opportunity for any member to attach documentation on outstanding issues for consideration, recommended changes or enhancements. Approved versions are forwarded to the Regulatory Reporting Steering Group for approval as the current working version will be used for automated statistical reporting and proofs of concepts.
Consistent with agile development and ensuring rapid feedback based upon experience, models versions may be updated quarterly but at least annually.
All members shall abide by The Linux Foundation Antitrust Policy available at: http://www.linuxfoundation.org/antitrust-policy.
All members shall encourage open participation from any organization able to meet the membership requirements, regardless of competitive interests. Put another way, the RRDM Group shall not seek to exclude members based on any criteria, requirements or reasons other than those used for all members.
General Rules and Operations
The RRDM shall be conducted so as to:
Under no circumstances shall The Linux Foundation be expected or required to undertake any action on behalf of RRDM that is inconsistent with the tax exempt purpose of The Linux Foundation.
The data module development by the Regulatory Reporting working group, including related documentation, Documentation will be received and made available by the working group under the Creative Commons Attribution 4.0 International License (available at http://creativecommons.org/licenses/by/4.0/).
The product of the RRDM shall be a set of recommended data models for each of the Property Casualty (P&C) lines of business that are required to be reported in accordance with the NAIC Statistical Handbook. These data models shall be forwarded and adopted by the openIDL Regulatory Reporting Steering Committee. The data models shall consist of the data elements that are necessary to satisfy statistical reporting requirements as defined in the NAIC Statistical Handbook. The data model may also include optional data elements that may be useful for satisfying state and federal regulatory data calls. To the extent possible, data models should adopt definitions previously determined by NAIC and/or other recognized P&C regulatory agencies.
Elements of each line of the business data model will designate data elements as 1) Minimum Stat 2) Expanded Stat or 3) Regulatory Request. Required elements are essential data elements that will satisfy existing NAIC Statistical Handbook reporting requirements and must be populated by companies in their Harmonized Data Store. Supplemental data elements are currently included in the Line of Business AAIS Statistical Plan but may not be necessary for satisfying reporting requirements but may be useful in analysis and data call reporting. Emerging data elements are currently not included in AAIS Line of Business Statistical Plans and may be useful in analysis and data call reporting. Companies are not required to populate in their Harmonized Data Store either Supplemental or Emerging data elements but will not also enjoy the benefits of having those elements available within the openIDL community for group analysis and data call reporting.