Description: Summarizes results of PBR survey of regulators by the Valuation Law and Manual Team, VLMT, of the Life Reserves Working Group, LRWG. Did not say what regulators were surveyed.

Description: July 2019 issue of Small Talk by the Smaller Insurance Company Section. Practical information for actuaries, trends that impact section, and section activities.

Description: The current drafts of the principle-based reserves PBR model law and accompanying regulations appear to include credit life insurance within the scope. It is expected that once the scope of PBR is expanded to include accident and health insurance, credit disability will fall within its scope as well. This article describes how will this affect credit actuaries.

Description: This article is a follow-up article on the principles-based reserves PBR movement in the life and health insurance industry. It discusses more in depth the possibility of principles-based reserves determined stochastically and changes proposed in the SVL for preferred mortality.

Description: Summary of PBR Implementation Task Force June 21, 2013 call and June 25, 2013 LATF call.

Description: Actuarial Guideline 38 has been one of the most discussed reserving changes in the past year. First proposed in late summer of 2004, several industry groups and LHATF have worked to reach consensus on this issue. The current draft is a compromise, sometimes referred to as the “CEO compromise” since the CEOs of several leading life insurers negotiated the language. From Small Talk Newsletter, November 2005, Issue No. 25.

Description: After years of discussion and debate, PrinciplesBased Reserving (PBR) is finally a reality. Small insurance companies have a unique opportunity to decide between electing for the company-wide exemption or adopting the PBR methods. This article discusses the benefits and challenges of the options available to small insurers under VM-20 as well as best practices that have been found along the way.

Description: Compares Term VM-20 modeled reserves at low credibility factors.

Description: Metadata for entire issue

Description: This article discusses the new valuation concepts under Regulation XXX and the practical issues that need to be addressed by companies.