Description: Just as the U.S. is dealing with a new surge of COVID-19 hospitalizations and death, the pandemic’s impact on the nation’s mortality rate is generating heightened interest. Two new reports issued from the Society of Actuaries provide important insights.

Description: The Tidbit discuss a Revenue Ruling IRS issued to update its position on sales of Life Insurance Contracts

Description: The direct and indirect effects of the pandemic have impacted many actuaries’ work since the spring of 2020. This article addresses three considerations actuaries should account for when using risk evaluation models which are focused on projecting remote, highly unlikely losses: model effectiveness, asset risk, and insurance (mortality and mortality) risk.

Description: This article discusses the current status, including differing views, on the treatment of risk transfer in reinsurance agreements under the principle-based reserves PBR approach.

Description: This article discusses the potential characteristics of health care reform and the associated impact on small insurance companies.

Description: This article provides a description of three factor updates for the NAIC Risk-Based Capital that will take effect in 2012.

Description: This article discusses the impact of ERM on smaller insurance companies.

Description: This article describes the growing trend toward more concern about events that are not likely to occur, but have a very adverse impact on a company when they occur and on reflecting the unique situation of individual companies. It mentions two recent initiatives, the change in the C3 formula of RBC and scrutiny of liquidity risk.

Description: The article is Part 1 of two articles that provide a case study for the development of a profitability and risk dashboard. The sample dashboard provides distilled information regarding actual to expected (A/E) ratios for key risks, agent quality scores and customer value scores. The dashboard would also provide the value of new business written, surplus strain, debit balances, and expected losses on debit balances at different levels, down to the agent level. A product mix index is provided, together with visual comparisons of key metrics to the company's business plan. The Part 2 article will add information to the dashboard regarding risk margins, target capital, and company value.

Description: Discusses Aug. 23, 2007, meetings in Salt Lake City, Utah, about principles-based approach for both reserves and risk-based capital, RBC.