Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: Based on interviews with C-level executives, this report offers insights on the role and actions of the global insurance industry in addressing climate change

Description: Runoff LTC blocks present a wide range of business risks. Outsourcing certain tasks to third parties can help mitigate these risks.

Description: For establishing the ongoing adequacy of claim reserves for blocks of long-term care insurance, retro testing is a blunt tool, the results of which are not conclusive. Claim reserve retro tests should be reviewed by claim duration, include the impact of interest consistently, and include updated assumptions that can have an impact on claim termination rates or other factors. The new NAIC LTC Experience Reporting Forms estimated to arrive for reporting year 2008 will help modernize LTCI retro tests, providing additional accuracy and standardization. Actuaries should not wait for these forms, but rather ensure that any claim reserve analysis moves beyond a basic calendar year retro test.

Description: Results of an industry survey on life insurance companies' efforts to implement the recently adopted Life Risk-Based Capital Phase II Instructions, which include new requirements for variable annuity contracts. Adopted by the NAIC on October 14, 2005, the new requirements are effective for year-end 2005. Also discusses a summary of the requirements set forth in the instructions.

Description: The author delves into other important parts that should be in the scope of model validation besides the code.

Description: An excerpt from a presentation at the 2014 Living to 100 Symposium, this article describes an open-source model for use by actuaries attempting to estimate future health benefit costs, discusses its strengths and limitations, and projects that spending for those age over 65 will take more than $13 trillion by 2055, about 50 percent of total medical expenditures.

Description: Highlights of the 1997 International Underwriting Congress with an in depth discussion of 1 critical illness policies and 2 Use of population data where little insurance data exists.

Description: The article focuses on the use of predictive analytics in the development of experience studies, pros and cons of using predictive analytics versus traditional techniques, and the implications for setting assumptions and improving profitability.