Practice Notes

Draft Large Group Medical Business Practice Note

Exposure draft update of the Large Group Medical Business Practice Note by the Large Group Medical Business Practice Note Work Group. (January 24, 2013)

Statements of Actuarial Opinion on P&C Loss Reserves (2012)

Committee on Property and Liability Financial Reporting's 2012 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. (December 17, 2012)

Long-Term Care Insurance Compliance with the NAIC LTCI Model Regulation Relating to Rate Stability

Update by the Long-Term Care Practice Note Work Group of the 2003 Long-Term Care Practice Note relating to long-term care rate stability. (October 23, 2012)

Actuarial Practices Relating to Preparing, Reviewing, and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act

Practice note by the Rate Review Practice Note Work Group on the preparation, review, and disclosure of rate filings under the Affordable Care Act. (October 9, 2012)

Exposure Draft of Rate Review Practice Note

Exposure draft of a practice note related to the preparation and review of rate filings under the Affordable Care Act. Comments on Actuarial Practices Relating to Preparing, Reviewing, and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act should be submitted by September 4. (July 23, 2012)

Long-Term Care Insurance Compliance With the NAIC LTCI Model Regulation Relating to Rate Stability

Exposure draft of the long-term care rate stability practice note. (June 8, 2012)

Statements of Actuarial Opinion on P&C Loss Reserves (2011)

Committee on Property and Liability Financial Reporting's 2011 practice note on Statements of Actuarial Opinion on P&C Loss Reserves.

PLEASE NOTE: This practice note was superseded by the 2012 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. (December 16, 2011)

Optional Retrospective Application of ASU 2010-26 Acquisition Costs

Life Financial Reporting Committee practice note Optional Retrospective Application of ASU 2010-26 Acquisition Costs. (October 1, 2011)

Selecting and Documenting Mortality Assumptions for Pensions

Pension Committee's practice note, revised October 2011, Selecting and Documenting Mortality Assumptions for Pensions to reflect changes to ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations that went into effect in June 2011. (October 1, 2011)

Working with Pension Plan Auditors

Pension Accounting Committee practice note with information for actuaries on current practices relevant to the audit of pension plan financial information that is subject to US generally accepted accounting principles (US GAAP). (May 24, 2011)

Application of C-3 Phase II and Actuarial Guideline XLIII

Variable Annuity Practice Note Work Group practice note on the Application of C-3 Phase II and Actuarial Guideline XLIII. (April 6, 2011)

Market Consistent Embedded Values

Life Financial Reporting Committee practice note regarding Market Consistent Embedded Values. (March 16, 2011)

Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards

Financial Reporting Committee practice note on Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards. (March 1, 2011)

Revised Actuarial Statement of Opinion Instructions of NAIC Health Annual Statement Effective December 31, 2010

Health Practice Financial Reporting Committee practice note on the Revised Actuarial Statement of Opinion Instructions of the NAIC Health Annual Statement that went into effect Dec. 31, 2010. This practice note is intended to help actuaries both understand and comply with new requirements issued by the NAIC regarding health annual statement filings. (January 1, 2011)

Statements of Actuarial Opinion on P&C Loss Reserves (2010)

Committee on Property and Liability Financial Reporting's 2010 practice note on Statements of Actuarial Opinion on P&C Loss Reserves.

PLEASE NOTE: This practice note was superseded by the 2011 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. (December 3, 2010)

Model Audit Rule

COPLFR cross-practice area subgroup's Model Audit Rule practice note, intended to assist actuaries when supporting management's assertions per the Model Audit Rule, as applied to the evaluation and testing of key controls for the actuarial balances, including loss reserves for the financial reporting process. (November 12, 2010)

Practices for Preparing Health Contract Reserves

Health Practice Financial Reporting Committee practice note on practices for preparing health contract reserves. (September 30, 2010)

Scenario and Cell Model Reduction

Modeling Efficiency Work Group practice note regarding scenario and cell model reduction. (September 22, 2010)

Common Practices Relating to FASB Statement 133, Accounting for Derivative Instruments and Hedging Activities, As It Relates to Variable Annuities with Guaranteed Benefits

Life Financial Reporting Committee practice note to assist actuaries with application of FAS 133 with respect to variable annuities with guaranteed benefits. (February 2, 2010)

Statements of Actuarial Opinion on P&C Loss Reserves (2009)

Committee on Property and Liability Financial Reporting's 2009 practice note on Statements of Actuarial Opinion on P&C Loss Reserves.

PLEASE NOTE: This practice note was superseded by the 2011 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. (January 4, 2010)