Description: An overview of how the VM-31 requirements for documenting PBR approaches and assumptions can/should reflect the Actuarial Standard of Practice on Modeling, ASOP No. 56

Description: This research report is the result of a second phase examination of the impact of VM-20 on life insurance product development.

Description: 1998 Valuation Actuary Symposium. This session about strengthening reserves based on cash-flow testing provided some practical solutions to reserve-strengthening issues using reinsurance and a look at the issue from a small company perspective.

Description: This article addresses the expected impact that the 2001 CSO table will have on pricing and product structure for UL plans.

Description: A paper outlining key considerations & issues that may be met when implementing VM-20, like product development resources, pricing models or product features.

Description: Initiated by the Financial Reporting Section, this paper explores rising interest rates. Following this path, the paper will look at implications of interest rate changes for the life insurance industry, current stress testing practices, and how a risk manager can proactively prepare for an uncertain future. A paper published in 2014 focused on why rates could stay low, and some aspects of this paper are similar (e.g., description of insurance products). This paper also uses a sample model office to help practitioners look at their own exposures. It includes typical interest-sensitive insurance products and how they might perform across various scenarios, as well as a survey to establish current practices for how insurers are testing interest rate risk currently.