Description: The Internal Revenue Service issued its seminal ruling interpreting Internal Revenal Code section 7702A[c][3][B][i], commonly referred to as the Necessary Premium Test [NPT]. The purpose of the NPT is to shelter certain death benefit increases from material change status, avoiding the 7 pay test's reapplication on their account.

Description: description of theme of the 2017 Canadian Reinsurance Conference

Description: Chairman’s column discussing 2012 accomplishments and 2013 and plans for the Financial Reporting section.

Description: Discusses the issues papaer to be released by the International Accounting Standards for Insurance to cover accounting issues for insurance contracts as opposed to insurance companies.

Description: The goal of this article is to provide some insight into life settlements. It reviews the benefits and the risks of conducting such a transaction. It covers how large the market is, why and when it would be appropriate, the transaction process, and the pricing and underwriting.

Description: This article is a discussion about the trends and changes affecting the life insurance industry by impacting product growth. Read how today's ideas can become tomorrow's successes.

Description: This is the second article in a four–part series. In this article, the industry's products are examined.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: How do you develop an accelerated underwriting program? The Accelerated Underwriting Program Development Seminar held in Tampa, Florida on May 22, 2019 answers this question through a series of sessions across various disciplines, including underwriting, actuarial, project management, marketing and data science. This article outlines the key takeaways from each of the industry experts.

Description: Summary of ReFocus 2019