Description: This is the presidential address by former President of the Society of Actuaries, Richard C. Guest. He discussed insurance supervision globally, with an emphasis on Canada and the United States.

Description: Sequel to the author's paper The Taxation of Insurance in Canada, which was published in 1970 in Volume XXII of the Transactions. The first paper covered the history of insurance taxation in Canada through 1969, including a description of the radical changes that became effective that year as an early phase of tax reform, following the 1967 recommendations of the Royal Commission on Taxation. Further general tax reforms became effective in 1972, including the introduction of taxes on capital gains a number of clarifications and refinements were also enacted in 1973. The present paper outlines these general changes, with particular emphasis on their effect on insurance. Finally, a completely revised mathematical presentation of the taxation of insurance corporations is given, together with formulas and examples of the marginal taxation rates on various kinds of income and disbursement of such corporations. Followed by discussion papers submitted by 2 authors

Description: This report, by the Committee on Nonforfeiture and Valuation Mortality Problems, resulted from a request by the NAIC to develop non sex distinct mortality rates in light of a recent court decision prohibiting sex distinct mortality in determining benefits derived from defined contribution pension plans. Also included is the ‘February 7, 1984, Report of the Society of Actuaries Committee on Nonforfeiture and Valuation Mortality Problems - Individual Life Insurance and Annuities Blended Selection Factors for Blended 1980 CSO Tables,’ which describes the subsequent determination of select factors, and discussion of two letters the Committee received. From the 1985 Transactions Vol. 37.

Description: Presented at April 1965 Spring Meeting. This is a series of reports on various topics: federal charter of American Academy of Actuaries, formation of the Canadian Institute of Actuaries, formation of a special committee on pensions, discussion of Medicare Bill HR 6675, California requirements for formation of a new life insurer.

Description: Topics: Financial strength issues related to formation of new companies, and content of SOA's spring programs and discussion rules.

Description: These are legal notes concerning policy owner federal income tax, taxation to an agent for expenses for sales convention travel, claims contest on a policy with false statements on the application, timing on surrender of a life insurance policy immediately before death, permitted investment by a life insurance company in a property/casualty company, extraterritorial issues pertaining to regulation of group life insurance, and tax deduction for reserves on pension contracts covering its own employees.

Description: This section presents and summarizes major insurance-related legal cases of 1957, including a case regarding interpretation of the Soldiers' and Sailors' Civil Relief Act of 1940 with amendments, FIT deduction of group disability benefits, FTC jurisdiction over advertising, group life employee ineligibility and incontestable clause, date of reinstatement, and claims issues.

Description: This paper was written to demonstrate that universal life and indeterminate premium products are similar to participating plans. Followed by several discussion papers submitted.

Description: This discussion covered: 1. The extent to which companies' net earned interest rates have risen above their low points from that of several years ago and 2. The NAICs' new method of dividing amortizable bonds into two classes in the valuation of securities

Description: Topics and cases discussed include: Pension Plan Tort Liability for Incomplete Information: Gediman v. Anheuser Busch Deposit with State Treasurer Liability for Release to Insurance Commissioner: Hometrust Life Insurance Company v. United States Fidelity and Guaranty Company.