Description: This research report is the result of a second phase examination of the impact of VM-20 on life insurance product development.

Description: Companies can implement VM-20 as early as 2017. While there have been research and educational materials produced to help actuaries and others better understand the implications and implementation of the new requirements from a financial reporting perspective, little has been developed emphasizing the product development actuary perspective. This SOA research project examines the impact of VM-20 from a product development actuarial perspective. The research will help actuaries and others enhance current practices to optimize pricing and product development activities within a VM-20 framework as well as enhance intracompany communication and efficiencies related to VM-20. This session is a follow-up to the session at last year’s symposium and will focus on Phase 2 of the research project.

Description: The NAIC calendar for 2008 is well underway. An overview of recent activity within certain aspects of the groups associated with the evolution of the Valuation Manual is presented here.

Description: Feature article that gives updates from the NAIC Winter National Meeting in regard to PBA.

Description: Information regarding the Economic Scenario Generator to be used when calculating Principle-based reserves and implementing VM20.

Description: The Reinsurance Section, Product Development Section and the Committee on Life Insurance Research are pleased to present results from a company practice survey of individual life insurance accelerated underwriting. Performed by a Milliman team led by Al Klein and Karen Rudolph, the study provides perspectives from both direct life insurance companies and reinsurers. Among the areas addressed include the structure of accelerated underwriting programs, how programs are monitored, how accelerated underwritten business is performing relative to expectations and how companies are considering accelerated underwriting cohorts in the context of VM-20 assumption setting.

Description: Full version of Small Talk Newsletter, June 2002, Issue No. 18.

Description: Key excerpts from research recently performed by Milliman consultants for the SOA on the impact of VM-20 on life insurance product development.

Description: Discussion of progress made at the NAIC Fall National Meeting on amendments to the Standard Valuation Law, the Valuation Manual - particularly with regard to principles-based reserves, and The Academy of Actuaries work on Risk Based Capital re C-e Phase III.

Description: Summarizes the efforts to complete the Valuation Manual by March 2010, for the NAIC's March meeting.