The Life Reserves Work Group presented to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting with background information on the VM-20 Asset Default Methodology and Development Process.
The Invested Asset Work Group commented on the American Council of Life Insurers’ Commercial Mortgage Risk-based Capital (RBC) Proposal in a letter to the NAIC’s Life RBC Working Group.
The Annuity Reserve Work Group delivered a report to the Life Actuarial Task Force proposing the modification of Actuarial Guideline 33 as a solution to reserving for guarantee living income benefits.
Long-Term Care Practice Note Work Group member Dawn Helwig presented at the NAIC's Senior Issues Task Force hearing on long-term care regarding actuarial implications for long-term care insurance.
The Life & Health Valuation Law Manual is now available. The manual is designed to help appointed actuaries comply with the requirements of the NAIC model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation.
The American Academy of Actuaries’ Life Practice Council commends the decision by the National Association of Insurance Commissioners to adopt the Life Valuation Manual that will help lead to a principle-based reserves (PBR) system intended to allow insurers to more accurately calculate risks and required reserves for insurance products.