Description: The Canadian Institute of Actuaries CIA recently updated its studies of lapse experience under universal life UL level cost of insurance COI and term-to-100 T100 policies. These studies can help U.S. actuaries set lapse assumptions for other lapse-supported products where no or little ultimate lapse experience exists, such as return of premium ROP term and UL with no lapse guarantees. The financial implications of overestimating ultimate lapse rates for these products can be significant.

Description: Chairperson’s column discussing the current challenges of life insurance product development in the present times.

Description: This article discusses the The Assumption Development and Governance Group (sponsored by the Financial Reporting and Product Development Sections).

Description: This article compares and contrasts the new 2017 CSO tables to the 2001 CSO tables and discusses considerations and possible implications of the new tables on reserves and the implementation schedule of the new tables.

Description: Part 2 of the article continues providing data on why IUL income streams need to be managed and suggests techniques that insurance companies could provide to policyholders and advisors to do so. The author also offers his research data free of charge to any actuary who contacts him to request it.

Description: This article focuses on the motivation and trends, rather than mechanics, in Life Insurance Securitization.

Description: This article discusses the causes of total coverage on a life exceeding the jumbo limit found in automatic reinsurance treaties. Steps being considered and taken to address this problem are also discussed.

Description: This article talks about replicating portfolios, a basket of financial instruments designed to replicate, as closely as possible, the value and market sensitivity of a target portfolio of liabilities in different economic scenarios.

Description: 2022 Generally Recognized Expense Table (GRET) recommendations.

Description: This report discusses management decision making practices and the need for actuaries to build the appropriate level of variability for management actions in stochastic models to achieve a more realistic range of future experience among the stochastic scenarios.