The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the NAIC group's "10 Things You Should Know Before Purchasing Life Insurance" exposure draft.
( )Arnold Dicke, Chair of the Role of the Actuary Subgroup, presented an update on the development to the NAIC Life Actuarial (A) Task Force on the definition of “qualified actuary” in the valuation manual and standard valuation law.
( )Donna Claire, Chair of the PBR Governance Subgroup, presented an update to the NAIC Life Actuarial (A) Task Force on the Academy’s efforts on PBR implementation.
( )The Life Practice Council sent a comment letter to the NAIC's Financial Condition (E) Committee raising concerns over the process by which the NAIC is developing changes to the statutory framework for variable annuities (VAs), including both C-3 Phase II for risk-based capital (RBC) and Actuarial Guideline (AG) 43 reserve requirements.
( )Mary Bahna-Nolan, Chair of the Academy’s Life Experience Committee, gave a presentation to the NAIC Life Actuarial (A) Task Force on developing accelerated underwriting techniques.
( )Dave Neve, Chair of the Academy’s Life Practice Council, presented a preliminary summary to the NAIC Life Actuarial (A) Task Force on the aggregation of mortality segments in VM-20.
Mary Bahna-Nolan, Chair of the Academy’s Life Experience Committee, gave a presentation to the NAIC Life Actuarial (A) Task Force on joint committee recommended changes related to guaranteed issue (GI) tables, and exposed simplified issue (SI) exposed tables and report.
( )The Non-Guaranteed Elements Work Group submitted a comment letter on the NAIC's Life Insurance Buyer's Guide Q&A Draft.
( )The Academy published a new Essential Elements paper, Tax Treatment of Pensions and Insurance Protections, highlighting select tax treatments of pensions and insurance protections, and outlining the potential public policy trade-offs of changes to the tax code. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
The Life Reinsurance Work Group Submitted a comment letter to the NAIC's Life Actuarial (A) Task Force on yearly renewable term (YRT) reinsurance premiums under Section 20 of the Valuation Manual.
( )The Academy announced a position statement in support of policy and educational initiatives to increase retirement income options within employer-sponsored defined contribution (DC) plans. Read the news release.
The Life Products Committee submitted a comment letter to the Actuarial Standards Board regarding a proposed actuarial standard of practice (ASOP) on pricing of life insurance and annuity products.
( )The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC’s Life Insurance Buyer’s Guide (A) Working Group regarding the Life Insurance Buyer’s Guide Discussion Draft.
( )The Life Reinsurance Work Group sent comments to the NAIC's Statutory Accounting Principles (E) Working Group on exposure draft 2017-28 relating to “Reinsurance Risk Transfer”.
( )The C1 Work Group sent comments to the NAIC’s Investment Risk-Based Capital (E) Working Group on capital requirements for bonds.
The Asset Adequacy Analysis Practice Note Work Group released a new practice note to assist practicing life actuaries faced with the requirement of asset adequacy analysis.
( )The PBR Governance Work Group’s VM-31 Review Subgroup sent comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on the exposed VM-31 Amendment Proposal Form (APF).
( )The Life Reserves Work Group (LRWG) submitted a comment letter on term insurance riders to the NAIC's Life Actuarial Task Force (LATF) regarding VM Maintenance Agenda Item 2017-40.
( )The Academy's Principle-Based Reserving Review Procedures Work Group submitted a comment letter to the NAIC's Financial Examiners Handbook Technical Group regarding the exposure of proposed changes to the Financial Condition Examiners Handbook.
( )The Annuity Reserves Work Group presented an update on its work related to issues that need to be modified for non-variable annuities to the Life Actuarial Task Force.
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