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.
Chair of the LTC & Disability Committee, Al Schmitz, gives a presentation to the National Conference of Insurance Legislators about long-term care and sales and premium increase data; understanding premium rate increases; and essential criteria in LTC reform.
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.
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.
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 developing accelerated underwriting techniques.