Description: Review of FASB's proposed "Targeted Improvements" to long duration insurance accounting and how they will impact valuation processes for Long Term Care.

Description: New products should address having acceptable carrier risks and at the same time enhance the product’s value to consumers to pave the way for broader acceptance.

Description: A discussion about the section’s accomplishments including research activities, professional development and benefits of being a member of the section.

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: A summary of the background, features, and potential pitfalls of the new LTC Experience Reporting Forms, which will soon be required. The new forms are designed to better inform investors, competitors, and regulators about financial performance, reserve adequacy, and relationship between assumptions and experience. Companies are advised to start preparing for the change to the new forms.

Description: Following up on recent articles on claim reserves and retrospective testing, this article examines some data quality and methodology issues related to calculating LTCI claim reserves.

Description: The article looks at potential changes in care provider demographics that could ultimately have an impact on the cost of long term care services.

Description: Remarks on the pricing of joint LTC policies illustrate the need for an actuary's responsibility to the law, and to best practices, to take precendence over serving sales, marketing and underwriting objectives.

Description: This article discusses the mechanics of a prospective approach to calculating LTC rate increases and compares it to approaches defined by previous model regs.

Description: A personal experience of joining the LTC industry and a brief perspective on how to address challenges facing the industry.