Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held May 16-17 in New York. Noting that “within the life insurance industry there is increasing skepticism as to whether illustrations of projected policy values will be met,” the panelists discuss the Illustration Problem. They consider whether the problem is real, and whether current disclosure standards are inadequate. Other topics include whether it is possible to design an understandable method which cannot be manipulated, what responsibilities actuaries have in developing adequate standards, and regulatory activities. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 2.

Description: Presented at May 1986 Spring Meeting. This session discussion is about how the profitability of distribution systems are measured, differences in underwriting and mortality or lapse levels by distribution systems, the levels at which to measure profitability, should the profitability of individual producers be reviewed, the best ways to manage the financial aspects of different distribution, the effect of replacement or rollovers on distribution systems, and how the costs of distribution system development is handled.

Description: This session discussion is about research on the financial implications of AIDS, particularly reserving and pricing implications, has been conducted by several major actuarial bodies. Their up-to-the-minute findings and recommendations will be presented at this meeting. We will then have an open discussion of these reports and also discuss what actions companies have already taken or plan to take. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: Presented at October 1996 Annual Meeting. This session looks at experience with Actuarial Standard of Practice 'ASP' 24 regarding the NAIC Life Insurance Illustration model regulation. Additionally included is a discussion of the NAIC's possible extension of the model to include annuities and variable life insurance. This session also looks at possible revisions to ASP 15.