Actuarial Soundness

  • Mr. Koenig said the area where the working group could make the most impact was to set standards for the actuaries, to determine what is an actuarially sound illustration.

1994-3, NAIC Proceedings

  • 1981 – SOA – Address of the President: Robin B. Leckie – Actuarial Soundness, tsa81v333 – Society of Actuaries – 10p
  • 2012 – AAA – Actuarial Soundness, A Public Polic Special Report – Actuarial Soundness Task Force, American Academy of Actuaries – 37p
  • 2013 – ASB – (ASOP-1) – Actuarial Standard of Practice No. 1- Introductory Actuarial Standard of Practice, Actuarial Standards Board – 23p
  • 2.3 Actuarial Soundness-The phrase “actuarial soundness” has different meanings in different contexts and might be dictated or imposed by an outside entity.
  • In rendering actuarial services, if the actuary identifies the process or result as “actuarially sound,” the actuary should define the meaning of “actuarially sound” in that context.

2013 – ASB – (ASOP-1) – Actuarial Standard of Practice No. 1- Introductory Actuarial Standard of Practice, Actuarial Standards Board – 23p

  • John Huff (Missouri Insurance Commissioner – NAIC)
    • I guess I would add on the asset-based products…
    • I would build on what Commissioner Voss just talked about, about the interstate insurance compact that we have on life and asset products-which actually Illinois has just joined that compact, one of our most recent members-that it is a great vehicle for speed to market as we term it, to get products through a vetting process to make sure consumers are protected, and that they are actuarially sound.
    • And so, I would say that is a very strong vehicle for new product development.

2011 0728 and 1025 – GOV (House) – Insurance Oversight: Policy Implications for U.S. Consumers, Businesses and Jobs – Part 1 – 2011 0728. Part 2 – 2011 1025 – [PDF-285p,

  • 1953 03- AP – Actuarial Soundness in Pension Plans with Insurance Companies, by Ray M. Peterson.
    • Journal of the American Association of University Teachers of Insurance, Vol. 20, No. 1, Proceedings of the 17th Annual Meeting, pp. 48-53 (6 pages), Published By: American Risk and Insurance Association 

    • Here lies the body of Ephraim Pine

      Born one-eight-naught-two; Died one-eight-eight-nine

      Between his two wives, Tilly and Sue,

      The twain of them loyal, faithful and true.

      I was fond of them both and was faithful, too,

      So I want to rest between these loved two,

      But I ask my good friends, Abram and Willie,

      Please place me so I’m tilted towards Tilly!