Description: Status of state passage of the new Actuarial Opinion and Memorandum regulation and its effect on Section 7 opinions.

Description: The new 2001 CSO regulation requires the filing of an asset adequacy opinion when the table is utilized - which can be a significant issue for small insurers.

Description: This article provides an update on principles-based reserves for life insurance.

Description: Includes new mission statement for Reinsurance Section and overview of draft practice note, Credit for Life Reinsurance in U.S. Statutory Financial Statements

Description: Standard Valuation Law (VM-20) State Adoption Status (May 8, 2014)

Description: Discusses the emerging issue of non-formulaic reserves, which surrounds principles-based reserving, in a Q&A format.

Description: This 2008 article discusses the current status of the statutory principle-based approach PBA to reserves and capital, including risk based capital RBC, federal income tax implications, and other topics, noting that the project is “still a work in process.”

Description: This article discusses many of the complexities of the new IDI valuation table and how they might impact the implementation process.

Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.

Description: The latest draft ORSA Guidance Manual was released on Oct. 14, 2011. An overview of the requirements from a qualitative, quantitative and governance perspective was provided in the December edition of the Financial Reporter. Several trade associations and com- panies commented on the draft.