Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists discuss issues related to capitalization of policy acquisition expense, the so-called “DAC Tax,” from the Omnibus Budget Reconciliation Act of 1990, including provisions of the act and reinsurance questions. Latest developments in other company tax areas are covered, including court cases, regulatory matters, and audit issues. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: This document contains material excerpted from a speech given on June 17, 1997 by Tom Kelly, Senior Vice President and Managing Director of LIMRA International, at a LOMA/LIMRA Strategic Issues Conference in Singapore. It focuses on the life insurance industry around the world and some of the forces driving change and their implications.

Description: Describes how the mantra of 'tax cuts will pay for themselves" along with the political unwillingness to cut spending (extant since the 1980s), has led to this increasing debt problem in the U.S., reaching $17 trillion at time of writing. Other countries are behaving in a similar fashion, and it can be only a matter of time before the globe may reach another crisis, this time based on excessive government debt coupled with fewer interested investors.

Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists discuss various topics and issues related to products marketed through the financial services industry, including the products sold and how they are distributed, the future of such marketing arrangements, whether banks and stockbrokers are a growth market, and the risks/returns to insurance companies. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: This presentation is a panel discussion from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. The panelists review current pension issues and recently published or expected regulations. Topics include funding issues, nondiscrimination rules, and small plan audits by the Internal Revenue Service. From the Record of Society of Actuaries, Volume 17, No. 4A.

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: This presentation is a panel discussion from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. In this session dealing with life insurance company federal income tax, the panelists discuss the impact of the so-called deferred acquisition cost [DAC] or proxy DAC tax created by the Omnibus Budget Reconciliation Act [OBRA] of 1990. Topics include stock versus mutual company reactions and response, the impact on mergers and acquisitions, reinsurance, and consolidation, product changes, small company problems and opportunities, new categories of specified insurance contracts, and the impact on Canadian companies. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 4B.

Description: This panel discussion is from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. The panelists discuss the National Association of Insurance Commissioners [NAIC] development of a risk-based capital requirement, and the Canadian Life and Health Insurance Association [CLHIA] Minimum Continuing Capital and Surplus Requirements [MCCSR]. They discuss the history of risk-based surplus, recent developments in Canada and various US states, the rating agencies, bank and international requirements, impetus for change, regulatory activity, and the limitations and difficulties of a mandated industry wide formula. Discussion from participants is included. From the Record of Society of Actuaries Vol. 17, No. 4A.

Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held May 16-17 in New York. The panelists, including regulators and a retired insurance company CEO, discuss the evolution and current status of industry regulation and offer perspectives as to how that process is and will be changing to address future industry dynamics. Topics include status of regulation in the United States, notable failures and successes, state regulation versus other alternatives, e.g., federal-state, and industry risk management, including prevention of business failures, and state guarantee fund. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 2.

Description: This article on insurance regulation discusses the highlights of the Optional Federal Charter OFC – current developments, its opponents and proponents, accounting implications, and implications for small insurers.