SOA Insights from the NAIC 2015 Summer National Meeting

This August insurance industry professionals gathered in Chicago for the 2015 Summer National Meeting of the National Association of Insurance Commissioners (NAIC). SOA members and staff attended the NAIC meeting to discuss tables, long-term-care research, property and casualty, and much more.

The SOA and the American Academy of Actuaries jointly presented to the Life Actuarial Task Force (LATF) of the NAIC on the 2017 Commissioners’ Standard Ordinary (CSO) tables and the study on the Underwriting Criteria Scoring tool. The SOA presented on the Generally Recognized Expense Table (GRET). The SOA also discussed the Mortality and Other Implications of Principle-Based Reserving (PBR) Survey Report during a meeting of the PBR Implementation (EX) Task Force Working Group.

The SOA discussed long-term care experience (LTC) basic tables during the Long-Term Care Actuarial (B) Working Group meeting. The SOA and LIMRA also presented on LTC policy termination experience updates and lapse report. The Academy/SOA Cancer Claim Cost Tables Valuation Work Group presented during the Health Actuarial (B) Task Force (HATF) meeting.

The SOA is supportive of the NAIC Property and Casualty (C) Committee’s election to undertake an independent review of the SOA General Insurance (Property and Casualty) track.  Regulators want to ensure the continued high qualifications of actuaries signing annual statement of opinions.

Stay tuned for developments on actuarial research and the SOA’s efforts in working with the NAIC.

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