Description: Message from Financial Reporting Section Chairperson informing section members what section activities lie ahead in the upcoming year.

Description: This article reviews Section 404 of the Sarbanes-Oxley Act. From Pension Section News, September 2004, Issue No. 56.

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: The article reviews the creation and interpretation of federal tax law, with specific application to the life insurance industry

Description: A discussion of the Treasury’s Priority Guidance Plan for the year July 2010 through June 2011.

Description: In preparing claims reserves in the annual statement, health insurers and their opining actuaries will generally include a provision for adverse deviation (PAD) in their reserved amount in order to satisfy language in both in the National Association of Insurance Commissioners (NAIC) Health Annual Statement Instructions and in Actuarial Standards of Practice. This article explores the total level of PAD (both implicit and explicit margin combined) included in the reported claims reserves by examining NAIC filing data from 2016 through 2022.

Description: This article is designed to provide a statistical method for reviewing the accuracy of the incurred but not reported IBNR life claim liability estimates from prior points in time.

Description: Feature article discussing uncertainty in insurance accounting.

Description: An update on the latest actions of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

Description: This article provides an overview of the impact of the revisions to the Standard Valuation Law adopted by the NAIC in 2009 on accident and health insurance.