Academy Health Practice Council (HPC) Vice Chairperson, Barb Klever, provided an update on HPC activities to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during the Virtual 2022 Spring National Meeting.
( )The Long-Term Care Valuation Work Group released a major report, the Long-Term Care Insurance Mortality and Lapse Study, as a result of a 2016 request from the NAIC’s Health Actuarial (B) Task Force regarding replacing the mortality and lapse bases for statutory minimum reserves. The study was completed jointly by the Academy and the Society of Actuaries Research Institute.
( )The C-2 Mortality Work Group’s report and presentation to the National Association of Insurance Commissioners’ (NAIC’s) Life Risk-Based Capital (LRBC) Working Group on their recommendations for updated C-2 factors.
( )Health Solvency Subcommittee letter to the National Association of Insurance Commissioners (NAIC) Health Risk-Based Capital (E) Working Group regarding its request of the Academy to conduct a comprehensive review of the H2—Underwriting Risk component and managed care credit calculation in the health risk-based capital formula.
( )Health Solvency Subcommittee comment letter in response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group to provide an additional digit within the subcommittee’s summary of the Investment Income Adjusted Health H2 Experience Fluctuation Risk Factors.
( )The Academy’s Property and Casualty Risk-Based Capital Committee issued a report to the National Association of Insurance Commissioners’ (NAIC) Property and Casualty Risk-Based Capital (E) Working Group in which it presents indicated Line of Business Underwriting Risk Factors for the P&C RBC Formula.
( )The Health Solvency Subcommittee sent a comment letter in response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group to further analyze the impact of incorporating investment income into the existing underwriting risk factors within the health risk-based capital formula.
( )The Health Solvency Subcommittee sent a comment letter in response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group providing additional detail regarding the potential investment income adjustment factor for Health H2 Experience Fluctuation Risk.
( )The Health Solvency Subcommittee comment letter to the National Association of Insurance Commissioners (NAIC) Health Risk-Based Capital (E) Working Group to provide analysis to incorporate investment income into the existing underwriting risk factors within the health risk-based capital formula.
( )The NAIC’s Health Risk-Based Capital (E) Working Group approved a request to the Academy’s Health Solvency Subcommittee for Analysis to Incorporate Investment Income into the Underwriting Risk Component of the health risk-based capital (RBC) formula. The working group requested a response from the subcommittee by Oct. 21.
( )The Long-Term Care (LTC) Valuation Work Group presentation to NAIC’s LTC Actuarial (B) Working Group as part of the NAIC Summer 2020 Virtual National Meeting.
( )PBR Governance Update to the Life Actuarial (A) Task Force at the NAIC 2020 Summer National Meeting
( )Life Experience Committee Life Mortality Improvement Subgroup presentation to the Life Actuarial (A) Task Force at the NAIC 2020 Summer National Meeting.
( )Life Underwriting and Risk Classification Work Group follow-up letter to the NAIC Accelerated Underwriting (A) Working Group after June 18, 2020 presentation.
( )Life Underwriting and Risk Classification Work Group presentation to the NAIC Accelerated Underwriting (A) Working Group.
( )Life Illustrations Work Group comment letter to NAIC Life Actuarial (A) Task Force on the ACLI redline of AG 49A.
( )Annuity Reserves Work Group Summer 2020 presentation to the NAIC VM-22 Subgroup on the preliminary framework elements for Fixed Annuity PBR.
( )C-2 Longevity Risk Work Group (formerly Longevity Risk Task Force) comment letter to the NAIC Life Risk-Based Capital Working Group on the exposed alternative factors for longevity.
( )Life Illustrations Work Group letter to NAIC Life Actuarial (A) Task Force on the "Independent Proposal".
( )Annuity Reserve Work Group (ARWG) presentation to the NAIC VM-22 (A) Subgroup on the development of their preliminary framework for fixed annuity PBR.
( )Life Illustrations Work Group letter to NAIC IUL (A) Illustration Subgroup on American Council of Life Insurers (ACLI) proposal for AG 49-A
( )Life Reinsurance Work Group comment letter to the NAIC Reinsurance (E) Task Force on the model #787 exposure memorandum on whether Actuarial Guideline XLVIII (AG 48) should be considered to be "substantially similar" to Model #787 under the NAIC Financial Standards of Accreditation Program.
( )IWG comment letter to NAIC on Indexed Universal Life insurance policies under Actuarial Guideline XLIX (AG 49).
( )C-1 Work Group comment letter to the NAIC Capital Adequacy (E) Task Force on their proposal to expand the number of bond factors in the Life Risk-Based Capital formula.
( )Macroprudential Task Force comment letter to NAIC Financial Stability (EX) Task Force and Liquidity Assessment (EX) Subgroup on the LST framework exposure.
( )Longevity Risk Task Force comment letter to NAIC Life Risk-Based Capital (E) Working Group on the exposure of the proposed longevity risk charge.
( )C-2 Work Group update to the Life Risk-Based Capital (E) Working Group at the NAIC 2019 Fall National Meeting.
( )The Long-Term Care Valuation Work Group presented updates on the mortality and lapse tables development.
( )Life Experience Committee presentation on the introduction to the Valuation Basic Table analysis process to Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting.
( )PBR Governance Work Group update at the NAIC 2019 Fall National Meeting.
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