After the Report was issued, the NAIC released its June 27, 2013, response to an earlier draft of the Report. The NAIC took issue with many of the draft report’s findings and recommendations. The response suggested that the peer review ignored the effectiveness of the U.S. state-based insurance regulatory system and the progress regulators have made addressing the three (of 28) ICPs that the FSAP assessment found the states did not observe or largely observe.