The Tax Work Group submitted comments to the NAIC's Statutory Accounting Principles (E) Working Group in response to the Issue Paper No. 15X concerning the implementation of principle-based reserving (PBR).
The Risk Sharing Subcommittee and Premium Review Work Group submitted a letter to the U.S. Department of Health and Human Services (HHS) regarding the proposed rule for the 2018 benefit and payment parameters. The comments address proposed changes to the risk sharing mechanisms, market reforms, and rate review provisions.
The C1 Work Group submitted comments to the NAIC's Investment Risk Based Capital Working Group in response to the “Proposal for Life Bond Granularity and Related Issues” dated Sept. 6, 2016.
The Intersector Group released the notes of its September 2016 meeting with the Pension Benefit Guaranty Corporation.
The Intersector Group released the notes of its September 2016 meeting with the Treasury Department and Internal Revenue Service.
The latest issue of PBA Perspectives features updates on principle-based reserving as well as regulatory, legislative, and Academy activities surrounding the implementation of the principle-based approach (PBA) for life insurance.