SOA Recap from NAIC 2015 Fall National Meeting

Insurance industry professionals gathered this November in National Harbor, Maryland, for the 2015 Fall National Meeting of the National Association of Insurance Commissioners (NAIC). SOA members and staff attended the NAIC meeting to discuss 2017 CSO tables, new e-learning on principle-based reserving, updates on cancer claim costs information, and other topics.

The Life Actuarial Task Force (LATF) of the NAIC adopted the 2017 Commissioners’ Standard Ordinary (CSO) tables. LATF also adopted the Generally Recognized Expense Table (GRET).

The SOA discussed the durable education component on principle-based reserving implementation. This e-learning prototype provides a five-minute video lesson on how to calculate Net Premium Reserves.

During the Health Actuarial (B) Task Force (HATF) meeting, there were updates shared on the American Academy of Actuaries/SOA Cancer Claim Cost Tables Valuation Work Group. The SOA also discussed a report exploring provider payment and risk arrangements, and a collection of papers exploring the impact of long-term care needs and expense on retirement security.

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

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