Description: Standard Valuation Law (VM-20) State Adoption Status (May 8, 2014)

Description: Discusses the emerging issue of non-formulaic reserves, which surrounds principles-based reserving, in a Q&A format.

Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.

Description: Author, then the chief actuary of the New York State Insurance Department, discusses the appropriateness of certain assumptions used in the valuation of life insurer liabilities.

Description: The latest draft ORSA Guidance Manual was released on Oct. 14, 2011. An overview of the requirements from a qualitative, quantitative and governance perspective was provided in the December edition of the Financial Reporter. Several trade associations and com- panies commented on the draft.

Description: The article describes the impact of AG 48 to a captive reinsurer for a SGUL product.

Description: Current status and initiatives related to PBR regulation

Description: This article is to outline the new requirements for valuation rates in VM-22, highlighting key differences and example calculations to enhance understanding.

Description: This 2008 article discusses the current status of the statutory principle-based approach PBA to reserves and capital, including risk based capital RBC, federal income tax implications, and other topics, noting that the project is “still a work in process.”

Description: This article discusses many of the complexities of the new IDI valuation table and how they might impact the implementation process.