NAIC Fall Meeting Update: Homeowners Market Data Call (C) Task Force

The Homeowners Market Data Call (C) Task Force (the "Task Force") oversees the Homeowners Market Data Call and is responsible for developing the national analysis report relating to the same. In its October 28, public meeting, the Task Force stated that it believes proposed updates to the Data Call template and definitions will improve data quality and help regulators better understand coverage design, affordability, availability, and catastrophe-exposure trends. Key proposed updates to the Data Call template included: (1) more detailed policy-type reporting; (2) improved premium and policy-count reporting; (3) better capture of canceled policy activity; (4) clarified definitions for claims and losses; (5) aligned claims and losses by peril type; (6) enhanced cancellation reporting; and (7) refined language with respect to mitigation discounts.