Description: Summary of NAIC's Winter National Meeting

Description: Feature article discussing ASU 2010-26: the new Financial Accounting Standards Board FASB guidance which changes the definition of costs related to the acquisition of new and renewal insurance contracts that can be capitalized.

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: A study of disability experience examines cost burden and degree of disability, and how these measures vary across different subpopulations.

Description: Discussion of the separate and joint effects of obesity and diabetes on disability and mortality, and ways these effects can be used to improved insurance pricing and reserving, reverse the increasing rates of obesity and diabetes, and improve current projections of disability and mortality risks.

Description: Abstract: The U.K. Pension Protection Fund (PPF) was established in April 2005 to protect the pensions of members of U.K. private sector defined benefit pension schemes that have insufficient assets and whose corporate sponsor fails. The Fund takes over the pension scheme assets and assumes responsibility for the payment of compensation to the former members of the scheme. The PPF is funded by a levy on the population of eligible schemes. To improve its ERM framework, the PPF has undertaken a reverse stress testing exercise. This analysis provided the organization with new insights into its risk profile, the scenarios leading to the PPF’s potential “failure,” and interactions between these scenarios. This paper discusses the principles and objectives of reverse stress testing in the special case of the PPF and then illustrates the application of complex system science techniques for the purpose of reverse stress testing.

Description: In May of 2001 the Credit Insurance Experience Committee was asked to respond to the National Association of Insurance Commissioner’s request to the Society of Actuaries to develop a recommendation for a uniform national valuation standard for credit life insurance policy reserves. This document contains the recommendation along with supporting material.

Description: This article discusses a number of product variations seen in the market with respect to Universal Life products with secondary death benefit guarantees, factors leading to those designs and considerations regarding the adequacy of reserves that emerge under AXXX formulas. This article also identifies a series of factors that authors believe will make it difficult to quickly and equitably resolve these issues through formula-based changes.

Description: This article discusses a study of the impact of the drug infliximab on Crohn's disease patients. This study had been approved in response to an SOA request for proposals for research on the health cost and utilization effects of a specific prescription drug.