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The Academy's Life Practice Council provides objective technical expertise to policy-makers and regulators on life insurance issues, including a principles-based regulatory approach to reserving and risk-based capital. The council is led by Tom Campbell, the Academy's vice president for life insurance issues. Life reports to the NAICRecent Academy presentations and reports to the NAIC include a joint Academy/SOA report on margins in mortality valuation tables and an overview of asset modeling and discount rate issues in VM-20. PBR comments to TreasuryThe Academy comments on an IRS notice to life insurers about potential income tax issues concerning proposed principle-based reserving methods. The next phase: C3 Phase IIIThe Economic Scenario Work Group develops a proposed scenario generator model for interest rate modeling in principles-based life and annuity capital and reserve calculations. |
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- Reports to the NAIC
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- C3 Phase II
- C3 Phase III
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