ACLI – TRG – Technical Resource Goup, Industry – Illustrations – NAIC

ACLI – TRG – Technical Resource Goup – NAIC

• George Coleman, Prudential, ACLI, TRG-Technical Resource Group for the NAIC (Industry Advisory Group – Illustrations)
• 1990s – LDWG – Life Disclosure Working Group – (A) – NAIC

• I think you really have to make sure that people understand volatility, whether you solve for a policy blowing up or values being halved.
  • I think you have to catch people’s attention, and that is all to the good.

—  George Coleman, Prudential, ACLI, TRG-Technical Resource Group for the NAIC (Industry Advisory Group – Illustrations)

1994 – SOA – Problems and Solutions for Product Illustrations, Society of Actuaries – 28p

• 1993-1, NAIC Proc. 
  • Technical resource advisors [TRG] pointed out that vanishing premium illustrations should include an explanation that premiums only vanish if assumptions reflected in the illustration continue unchanged into the future.
  • The advisors did not favor disclosure of the assumptions underlying policy performance because they were so complex.
  • They were concerned about being able to explain, in an understandable way, the multitude of assumptions with a bearing on policy performance.

• NAIC Model Laws, Regulations, Guidelines and Other Resources-January 2011
  • LIFE INSURANCE ILLUSTRATIONS MODEL REGULATION – PC-582-1
  • Proceeding Citations – All references are to the Proceedings of the NAIC  —  [BonkNote]

• 1993-1, NAIC Proceedings
  • TRG – Report of the Technical Resources Group – 263
• 1993-2, NAIC Proceedings
  • TAC – Technical Advisory Committee – Illustrations Cover Page (Draft) – p732 – 3p
  • TAC – Requirements for Illustration Cover Pages – 3p
  • TAC – Draft Illustrations Cover Page Attachment Six-A – 732 – 3p
• 1994-1, NAIC Proceedings
  • lllustrations Recommended by Technical Resource Advisors (Attachment Four-A) – 367
• 1994-2, NAIC Proceedings
  • TRG – Illustration of Guaranteed Benefits ABC Life Insurance Company – 549 – Technical Resource Group
  • TRG – Illustration of Past Performance ABC Life Insurance Company – Technical Resource Group
• 1994-3, NAIC Proceedings
  • Actuarial Analysis of Illustration Proposals TRC 9.1.1994 – p532-547 – 16p
  • Technical Resource Committee’s Draft Suggestions Concerning the Life Insurance Illustrations Model Regulation – 524