Description: This panel discussed studies of the risk of loss due to changes in the interest rate environment. It addressed why the C-3 risk is important and how inflation and stability in interest rates can affect the financial soundness of life insurance companies. There was also a discussion of the theoretical work being carried out to calibrate the C-3 risk of variation in interest rates and to what extent the valuation actuary can properly recognize the risk of loss from changes in the interest rate environment within the framework of valuations laws and regulations.

Description: From a session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 Discussion of issues and the impact of current statutory valuation requirements for life insurance policies. Requirements covered include the Actuarial Standard of Practice on XXX, Actuarial Guideline AXXX, and Actuarial Guidelines 36 and 37. Products and issues discussed include nonlevel premium or nonlevel benefit insurance e.g., selective term, universal life with secondary guarantees or shadow accounts, determination of X factors, interpretation issues regarding XXX, variable life, and variable universal life, equity-indexed universal life, and the new CSO mortality table.

Description: This 1981 session concerned Individual Life Insurance Cost Disclosure Issues including i. Current Status of Cost Disclosure Requirements 2. Responses to Cost Disclosure Pressures 3. Future Needs and Problems 4. Vehicles Available to Effect Changes There is also a discussion of replacements and the need for better communication of the comparisons of the replaced policy to the new policy to prospective buyers.

Description: From a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 This session covers current issues in reinsurance treaty wording including: · Claims wording · Insolvency wording of the direct company and of the reinsurer · Are the reinsurer rates guaranteed? · Does the treaty follow the NAIC model regulation?.

Description: This panel discussion session explored alternative methods for accounting recognition of the costs of policyholder dividends. The theoretical bases, as well as the impact on anticipated earnings patterns, are discussed. Implementation issues are also discussed. Discussion of participating products in the UK and accounting methods used for them is also included.

Description: Presented at October 1996 Annual Meeting. Discusses the new regulatory requirements, including the invention of an illustration actuary and what the job entails, and the tasks to be accomplished in achieving compliance.

Description: Presented at June 1996 Spring Meeting. Panelists discuss the impacts on preparing reserves and an Actuarial Opinion and Memorandum caused by differing reserve requirements in each state.

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Presents questions to actuaries who are experts in the field of actuarial valuation of insurance company assets and liabilities.

Description: From the 1986 Valuation Actuary Symposium, held in Washington DC in October 1986 Discussion of cash flow testing to assess level of C-1,C-2, and C-3 risk. Also, update on regulatory and legislative issues in Canada pertaining to the Valuation Actuary, reserves, and risk based capital