Description: Summary of NAIC's Winter National Meeting

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: Discusses the reasons for, and the economic impacts of, the backdating of life insurance policies, and what changes in the industry might evolve to address them.

Description: A review of Actuarial Guideline AXXX

Description: Panelists discuss the history of this 75-year-old Medical Information Bureau MIB, its very active and data-rich source of medical information, and the services that the MIB offers to clients and other industry groups. From the Record of the Society of Actuaries, Vol. 24, No. 1.

Description: This panel discussion session looked at recent and proposed regulation of life insurance underwriting. Specific topics included: i. Problems with traditional underwriting classifications: privacy, disclosure, anti-discrimination, etc. 2. New and acceptable classifications: smoking, lifestyle, build, blood pressure, finances, etc. 3. Possible transition problems: existing policies, persistency, coordination of previous data with newer classes, etc.

Description: The panel discussed conservation strategies for permanent and term insurance. Topics included: 1.Impact on in-force business from new products e.g., continuous reduction in ART rails, non-smoker discounts, universal life: increased policy loans?, replacements?, lapses?, surrenders and _exchanges? 2. Responses from companies: e.g. extension of new cost methods to existing policyholders?, Field compensation when replacing existing business?, internal conservation functions?, update programs policyholder/agent communication strategies? applicability of new products to in-force policyholders. 3. Interest groups which must be considered and differences between stock vs. mutual companies? e.g. Policyholder, agent/broker, management, stockholders, prospective policyholder, legal/regulatory forces IRS, SEC, state insurance departments. 4. Appropriate financial considerations and anticipated results? Is stonewalling a viable alternative? GAAP effects statutory effects use of reinsurance field force compensation/survival, anticipated future mortality results, Federal Income Taxes.

Description: This is a Fellowship Credit Research Paper. A portfolio of different insurance policies such as temporary, endowment and whole-life insurance policies is studied in a stochastic mortality and interest environment. The first two moments of the present value of the benefits of the portfolio are derived. The riskiness of the portfolio as measured by the variance of the present value of the benefits can be divided into an insurance risk and an investment risk in two different ways. One way leads to a more natural interpretation of the two risk components. A simple portfolio is used to illustrate the results.

Description: This discussion looks at the main trends in substandard insurance, including: changes in medical impairments subject to substandard ratings or declination, increased availability of substandard insurance and reinsurance, changes in occupational and special hazard ratings, and progress with offerings of substandard individual health and accident coverages.

Description: Read the June 2017 issue of The Financial Reporter published by the Financial Reporting Section.