Description: Author reported on sessions she attended at September 2009 NAIC meeting, including much information on the Valuation Manual.

Description: In 2005, the Life and Health Actuarial Task Force [LHATF] of the National Association of Insurance Commissioners [NAIC] requested that the actuarial professional bodies develop mortality tables for reserving that would better reflect the actual mortality of companies for the mortality of preferred risks underwritten in the marketplace today. Setting different levels of valuation mortality appropriate for preferred risks would largely address issues of reserve redundancy due to the assumption of mortality. This interim report covers the Data Validation, Underwriting Criteria, and Experience Analysis portions of this project.

Description: Full version of Product Matters! June 2007, Issue No. 68.

Description: This presentation is a Teaching Session, number 4A, from the 1987 Valuation Actuary Symposium. The subject of the session is Regulation 126, effective for year end 1986 for all companies doing business in New York, which requires an actuarial opinion and memorandum with respect to the adequacy of the assets to support the liabilities for annuities, guaranteed investment products, and related products. The instructor discusses areas of concern from New York as a result of the first year of filings, including completeness, call and prepayment assumptions, default assumptions [sometimes zero], surrender assumptions [too low], failure to reflect taxes, poor communication between actuary and investment department, length of projections, varying yield curves, reflection of reinsurance, and the most common reason for rejecting the opinion: using starting assets greater than liabilities. Other problems were illustrated through examples, and changes to Regulation 126 were discussed.

Description: This session from the 1994 Valuation Actuary Symposium presents a question and answer format relating to various valuation topics.

Description: Full version of Product Matters! October 2007, Issue No. 69.

Description: The purpose of this reports is to define topics and provide information on techniques currently available in support of the development of dynamic solvency testing, DST. The paper covers topics of the time frame for analysis, scenario interpretations, credibility, confidence standards and reliance guidance.

Description: Panelists discuss major pricing issues with immediate annuities: [1] mortality assumptions, including improvement projections and substandard risks, [2] investment strategy, [3] expenses, and [4] valuation. Also discussed separately is a description of structured settlements and special issues with marketing such products. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4A.

Description: 1993 SOA Meeting, Quebec. The new SVL has expanded the scope and responsibilities of the valuation actuary. Topics covered: • Risk of legal liability for actuaries? • Vagueness of actuarial standards related to adequacy testing? • Reliance on other company experts? • Consultants versus company actuary perspectives? • The science versus the art of the process?

Description: discussion of March 2009 NAIC/LHATF meeting