Academy Comments to the NAIC on PBR*

Academy Comments to the NAIC on PBR*

. LIFE ISSUES (VM-20)
Academy Discusses YRT Reinsurance and Guaranteed Issue, Simplified Issue, and Preneed Update at NAIC Summer Meeting
Academy representatives Richard Daillak and Mary Bahna-Nolan addressed the NAIC Life Actuarial (A) Task Force at the NAIC Summer 2015 National Meeting. Mr. Daillak, Chair of the Life Reinsurance Work Group, presented on Treatment of YRT reinsurance in Stochastic Exclusion Ratio Testing. Ms. Bahna-Nolan, Chair of the Life Practice Council, discussed the topic of accelerated underwriting. (August 14, 2015)
 
Joint Group Updates NAIC on Mortality Table Development
The American Academy of Actuaries and Society of Actuaries Joint Project Oversight Group gave a presentation to the NAIC Life Actuarial (A) Task Force on the development of the 2014 VBT tables, 2017 CSO tables, and PBR margins. (March 26, 2015)
. VARIABLE ANNUITY ISSUES (VM-21)
Work Group Submits Comments on AG43 and C-3 Phase II Exposure Draft
The AG 43/C-3 Phase II Work Group submitted comments to the Variable Annuities Issues (E) Working Group on the exposed proposal to revise Actuarial Guideline 43 (AG 43) and C-3 Phase II. (November 14, 2016)
 
Work Group Submits Comments to NAIC on Variable Annuities Framework
The AG 43/C-3 Phase II Work Group submitted comments on the "Variable Annuities Framework for Change" to the NAIC Variable Annuities Issues (E) Working Group. (October 16, 2015)
. FIXED ANNUITY ISSUES (VM-22)
Work Group Submits Comments to NAIC on Statutory Valuation Interest Rates
The SVL Interest Rate Modernization Work Group submitted comments to the NAIC’s V-22 Subgroup of the Life Actuarial Task Force on statutory regulations regarding the determination of statutory valuation interest rates. (February 23, 2016)
 
ARWG Presents Update on Non-Variable Annuity PBR to LATF
The Annuity Reserves Work Group (ARWG) provided a non-variable annuity PBR update to the Life Actuarial Task Force’s VM-22 Subgroup at the NAIC Fall 2015 National Meeting. (November 16, 2015)
. LONG-TERM CARE ISSUES (VM-25)
LTC PBR Work Group Presents to NAIC’s Long-Term Care Actuarial Working Group
The Long-Term Care (LTC) Principle Based Reserve (PBR) Work Group presented its final report to the NAIC’s Long-Term Care Actuarial Working Group (B). (April 5, 2016)

Work Group Sends Final Report to NAIC on LTC Principle-Based Model
The LTC Principle-Based Reserves Work Group sent its final report on a principle-based approach model to the NAIC's Long-Term Care Actuarial Working Group. (January 21, 2016)

Work Group Makes Presentation to NAIC on LTC Principle-Based Model
The Long-Term Care Principle-Based Work Group offered an update on developing a principle-based approach model and a timeline for completion to NAIC's Long-Term Care Actuarial Working Group. (August 14, 2015)

Update Provided on LTC Principle-Based Model Update
The Long-Term Care Principle-Based Work Group offered an update on developing a principle-based approach model and a timeline for completion to the NAIC’s Long-Term Care Actuarial Working Group. (March 27, 2015)
. RBC REQUIREMENTS UNDER PBR
Work Group Submits Comments to NAIC Subgroup
The Stress Testing Work Group submitted comments to the NAIC's Stress Testing (E) Subgroup on providing assistance to help meet its charge. (September 28, 2016)



*Includes only comments on issues that have not yet been resolved involving the Valuation Manual, or laws or regulations that might need to be changed based on Valuation Manual content; excludes comments on issues that relate to temporary fixes until PBR is in place.