Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 The National Association of Insurance Commissioners NAIC Valuation of Life Insurance Policies Model Regulation XXX sets forth the valuation requirements for life insurance with nonlevel premiums or nonlevel benefits, including term insurance and universal life with certain underlying guarantees. Panelists discussed the issues around implementation of the requirements. The issues discussed include: • Determination of X factors when no credible company mortality exists • Proper treatment of secondary guarantees in universal life insurance • Preparation of the mortality assumption opinion requirements • Impacts on product development and design

Description: From an interactive forum session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Discussion of the major financial reporting issues and concerns of senior actuaries in life insurance companies. Discussion focused cash flow testing methods and interpretation of results.

Description: This article focuses on the challenge of validation of quality data particularly with regard to outsourcing, reviews the standards of practice concerning data quality and the steps that can be taken to ensure data quality.

Description: Chairperson talks about the activities of the section.

Description: The August/September 2013 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: This article provides a brief synopsis of the paper Limitations on Liabilities for Actuarial Services and describes the paper's availability. From Pension Section News, March 2004, Issue No. 54.

Description: After research involving auto insurance is retracted due to fraud, I revisit my own book review and unskeptical quoting of that now-debunked research. A lesson in ASOP 23, on Data Quality, ensues, as it seems data in the research was falsified. There is also a lesson in ASOP 56, Modeling, which includes aspects of relying on outside experts for model input. At the end of it all, the value of our actuarial professional standards, in light of other professions seemingly having no standards (or no serious repercussions for breaching said standards), shines through. Also, be skeptical of 'one simple trick' approaches to transform the insurance industry.

Description: Presented at May 2002 Spring Meeting. This session covers the AICPA's proposed statement of position on accounting and reporting by insurance enterprises for certain nontraditional, long-duration contracts and for separate accounts. It requires new GAAP reserves for certain variable annuities with guaranteed minimum death benefits 'GMDBs'.

Description: This session from the 1992 Valuation Actuary Symposium reviews the appointed actuary concept, the actuarial opinion and asset adequacy analysis as they apply to health insurance and expresses the views of one regulator on the subject and one actuary in terms of the actuarial standards of practice.

Description: Discussion as to whether within an organization an actuary's regulatory role can conflict with his business-oriented role or be aligned with the strategic goals of the company.