Description: This article summarizes key aspects of the Economic Balance Sheet (EBS) framework with respect to valuation of long-term liabilities. It highlights key implications of the EBS framework for life insurers and actuaries.

Description: View the complete issue for the August 2014 Reinsurance News newsletter.

Description: Discusses a Bill which was recently introduced into the Maryland Legislature and which would require the Insurance Commissioner to publish a price comparison for all life companies licensed in Maryland.

Description: Feature article discussing U.S. and international regulatory developments of interest to actuaries in the financial reporting field.

Description: In May of 2001 the Credit Insurance Experience Committee was asked to respond to the National Association of Insurance Commissioner’s request to the Society of Actuaries to develop a recommendation for a uniform national valuation standard for credit life insurance policy reserves. This document contains the recommendation along with supporting material.

Description: An Early Warning System for Life and Health insurance companies has been developed by an NAIC Committee of state insurance department personnel, with some assistance from an industry advisory committee. The group is known formally as The Life and Health Regulatory Task Force of the A-3 Computer Application Subcommittee. The author discusses and provides an analysis of the specific regulatory tests included in this system.

Description: This report, prepared by Advisory Subgroup I, was included as Appendix 3 of the 1987 Valuation Actuary Handbook. This advisory subgroup, or committee, was appointed by the New York Insurance Department and chaired by Donna Claire. This committee was charged with developing suggested regulations to deal with the concept of the Qualified Actuary and Actuarial Opinion and memorandum in accordance with New York’s recently amended reserve and nonforfeiture laws for guaranteed interest contracts and annuities with and without life contingencies. The actual regulation, New York Regulation 126, combines the work of the committee with Subgroup II, which focused on minimum reserve standards.

Description: Contained in Appendix 4 of the 1987 Valuation Actuary Handbook, this set of articles sets forth the positions of various industry groups with regard to the valuation actuary concept as of January 1987. It consists of four sections: 4.1 – Excerpts from the Report of the Task Force on the Valuation Actuary to the ACLI Board of Directors, August 1986 4.2 – Final Report of the Joint Committee on the Role of the Valuation Actuary in the United States 4.3 – Preliminary Report to NAIC Life & Health Actuarial Task Force from Surplus & Solvency Subcommittee of NAIC Standing Technical Advisory Committee, October 9-10, 1986 and 4.4 – Draft Recommendation 7 – American Academy of Actuaries paper. Views of the American Council of Life Insurance, ‘ACLI,’ the National Association of Insurance Commissioners, ‘NAIC,’ the American Academy of Actuaries, and the Society of Actuaries are all represented. Note that the final report in 4.2 above was adopted in 1984 by the boards of both the Academy and Society, the two organizations represented on the Joint Committee.