Description: Summary of Part II of the survey of Appointed Actuaries, sponsored by the American Academy of Actuaries Committee on Life Insurance Financia1 Reporting and the Society of Actuaries Financial Reporting Section, which asked appointed actuary various questions on methodology and assumptions employed for asset adequacy testing.

Description: Reports on the Florida winter meeting of the NAIC’s Life and Health Actuarial Task Force, LHATF, regarding an agreement that was reached on an approach to be taken to reconstitute the Standard Valuation Law, SVL, applicable to life insurers.

Description: This is the first of two articles discussing the model laws governing minimum reserves and non-forfeiture values that the NAIC adopted in December 1980. The author, Chairman of the NAIC Technical Task Force on Valuation and Nonforfeiture Value Regulation, in this first article describes the objectives of the revision, which include updating assumptions, increasing flexibility, and improving the ability to deal with new types of products, the cooperative effort entailed, the actuary’s role and responsibilities in doing business under the new law, and the financial impact.