Description: For establishing the ongoing adequacy of claim reserves for blocks of long-term care insurance, retro testing is a blunt tool, the results of which are not conclusive. Claim reserve retro tests should be reviewed by claim duration, include the impact of interest consistently, and include updated assumptions that can have an impact on claim termination rates or other factors. The new NAIC LTC Experience Reporting Forms estimated to arrive for reporting year 2008 will help modernize LTCI retro tests, providing additional accuracy and standardization. Actuaries should not wait for these forms, but rather ensure that any claim reserve analysis moves beyond a basic calendar year retro test.

Description: Presented at June 2000 Spring Meeting. Discusses adjustments mutual company actuaries have to make after demutualization: financial reporting, product design and pricing, profit measures, and roles and opportunities.

Description: Panelists discuss the Interim Actuarial Standards Board [IASB] recommendations, ratified by the Board of Directors of the American Academy of Actuaries and effective January 1987, concerning the determination or re-determination of non-guaranteed charges and/or benefits for life insurance and annuity contracts. From the 1987 Record of Society of Actuaries, Vol. 13, No. 4B.

Description: A summary of the background, features, and potential pitfalls of the new LTC Experience Reporting Forms, which will soon be required. The new forms are designed to better inform investors, competitors, and regulators about financial performance, reserve adequacy, and relationship between assumptions and experience. Companies are advised to start preparing for the change to the new forms.

Description: This a two-part article on actuarial opinions and addresses the coordination of opinions found in the financial reporting environment of the brown or blue book actuary. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: A summary of the October 31 meeting of the Board of Governors, where topics included education and examination requirements, SOA organization, pension terminology, publications, didivend philosophy, subcommittee operations, financial statement certifications, the Executive Director position, and consolidation of North American actuarial organizations.

Description: This 1978 session discussed actuarial certifications and opinions rendered with emphasis on i. The who, what, how and by whom, and 2. Underlying methods, principles, practices and so forth and the disclosure thereof. From Record of Society of Actuaries, Vol. 4, No. 1.

Description: Presentation at May 1996 Spring Meeting. This panel discussion covers emerging issues in Canadian financial reporting for life insurance companies: new consolidated standards of practice, future financial condition opinion, disclosure of financial information.