Life
The Academy’s Life Practice Council (LPC) is dedicated to providing policymakers and regulators with unbiased technical expertise.
From crafting principle-based regulatory frameworks to optimizing risk-based capital strategies, the LPC is at the forefront of innovation in the life insurance industry.
Capital
Life and annuity capital adequacy and recommendations to improve life Risk-Based Capital (RBC) requirements.
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Financial Reporting
Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
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Life News
Health Committee News
ASB Adopts Final Revision of ASOP No. 5
The ASB recently adopted a final revision of ASOP No. 5, Incurred Health Claim Liabilities. This ASOP provides guidance to actuaries when estimating or reviewing incurred claims when preparing or…
Topics: ASB News
Date Published: 04/27/2017
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Life Committee News
ASB Approves Exposure of Proposed ASOP on Principle-Based Reserves for Life Products
The ASB approved an exposure draft of a proposed new ASOP titled Principle-Based Reserves for Life Products. The proposed ASOP will apply to actuaries when performing actuarial services on behalf of…
Topics: ASB News
Date Published: 04/14/2017
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Life Resources
NAIC Report
LPC Updates LATF at NAIC Summer Meeting
The Life Practice Council (LPC) gave an update on its activities to the NAIC’s Life Actuarial (A) Task Force (LATF) at NAIC’s Summer National Meeting in Minneapolis.
Topics: Life
Comment / Letter
Practice Councils Comment to NAIC on RBC Principles
The Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Practice Council submitted a joint comment letter to NAIC’s Risk-Based…
Topics: Risk-Based Capital
Comment / Letter
Comment Letter to the NAIC’s Life Actuarial (A) Task Force VM-22 Subgroup
The Annuity Reserves and Capital Subcommittee sent a comment letter to the NAIC’s Life Actuarial (A) Task Force VM-22 Subgroup on the Chair Exposure of VM-22 Retrospective Application.
Topics: NAIC
NAIC Report
LPC Presents to LATF on YRT Guarantees
The Life Practice Council presented to the NAIC’s Life Actuarial (A) Task Force (LATF) in response to a request to examine yearly renewable term (YRT) guarantees.
Topics: Life
Comment / Letter
Subcommittee Comments to NAIC on Proposed Task Force Reorganization
The Life Investment Analysis Subcommittee submitted comments to the NAIC’s Financial Condition (E) Committee on the proposed reorganization of the Valuation of Securities (E) Task Force.
Topics: Life
Comment / Letter
Life Subcommittee Comments to Illustration Subgroup on APF AG 49-A
The Life Illustrations Subcommittee sent comments, and an accompanying redline to the NAIC’s Life and Annuity Illustration (A) Subgroup on its exposure of APF AG 49-A Section 7 exposed 04.02.25.
Topics: NAIC
Comment / Letter
Academy Comments to NAIC on Proposed AI in Insurance Model Law
Academy casualty, health, life, and risk management and financial reporting vice presidents sent a comment letter to the NAIC in response a request for information by NAIC’s Big Data and…
Comment / Letter
Life Subcommittee Comments to Colorado on Data Models Framework
The Life Underwriting and Risk Classification Subcommittee sent comments to the Colorado Division of Insurance on the draft Proposed Amended Regulation Governance and Risk Management Framework…
Topics: Life
Comment / Letter
Subcommittee Comments to LATF on APF 2025–04
The Economic Scenario Generator Subcommittee sent a comment letter to the NAIC’s Life Actuarial (A) Task Force on the recent exposure of APF 2025-04, discussing the update to the Valuation Manual…
Topics: Life
Comment / Letter