Description: After years of discussion and debate, PrinciplesBased Reserving (PBR) is finally a reality. Small insurance companies have a unique opportunity to decide between electing for the company-wide exemption or adopting the PBR methods. This article discusses the benefits and challenges of the options available to small insurers under VM-20 as well as best practices that have been found along the way.

Description: The Tidbit discuss a Revenue Ruling IRS issued to update its position on sales of Life Insurance Contracts

Description: The direct and indirect effects of the pandemic have impacted many actuaries’ work since the spring of 2020. This article addresses three considerations actuaries should account for when using risk evaluation models which are focused on projecting remote, highly unlikely losses: model effectiveness, asset risk, and insurance (mortality and mortality) risk.

Description: Provides an overview of developments in the healthcare market including provider billing practices. Provides an overview of the Government Finance Officer’s Association (GFOA) in New York on Dec. 6, 2018

Description: This article provides a description of the development process for the 2003 GRET factors. The results were also presented and discussed.

Description: Reworking The ABC’s of XYZ by Tom Kalmbach from Small Talk Newsletter, November 2002, Issue No. 19.

Description: This article discusses the design and pricing of Critical Illness insurance policies.

Description: This article discusses the potential characteristics of health care reform and the associated impact on small insurance companies.

Description: The ACLI porposed some changes to the current Standard Valuation Law even though Principles Based Reserving PBR is being considered as SVL II by the regulatory community. This article outlines the current SVL, those recent changes to the current SVL and the implications of the changes.

Description: This article details the IRS' Revenue Ruling 2005-6. This ruling provides formal guidance on how to treat family term riders for purposes of the computational limit calculations in Internal Revenue Code IRC sections 7702 and 7702A i.e., calculations of net single premiums, guideline single premiums, guideline level premiums and 7-pay premiums. From Small Talk Newsletter, June 2005, Issue No. 24.