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.
( )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.
( )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 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 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 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.
( )Standard Valuation Law Interest Rate Modernization Work Group presented an update to the NAIC's Life Actuarial Task Force (LATF) summarizing its activities on its new project to modernize the process of setting valuation interest rates for non-variable annuities (except SPIAs).
( )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.
( )Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presented on PBR valuation considerations and recommendations related to accelerated underwriting to the Life Actuarial Task Force.
( )Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presented on the guaranteed issue report and amendment proposal forms (APFs) to the Life Actuarial Task Force. The first APF examines implementation of guaranteed issue mortality tables under current requirements; the second APF examines implementation under principle-based reserve requirements.
( )Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group presented to the Life Actuarial Task Force on the 2017 simplified issue composite mortality tables report.
