Actuarial – Page 8

CIA-ICA – Canadian Institute of Actuaries cia-ica.ca/home Nobis cura futuri, the motto of the Canadian Institute of Actuaries, may be roughly translated “We care about the future.” 1982 – SOA – Actuarial Aspects of the Changing Canadian Demographic, by Robert L. Brown – 26p 3. Determination of Range of Primary Scenarios An actuary involved in the…

IAA – International Actuarial Association actuaries.org/iaa actuaries.org///IAA/Public_Submissions actuaries.org///publications Astin Bullentin – cambridge.org/core/journals/astin-bulletin-journal-of-the-iaa 2002 02 – IAA (International Actuarial Association) – Report of Solvency Working Party, Prepared for IAA Insurance Regulation Committee – 99p 2004 – ACLI/ IAA – Renewal Premiums and Discretionary Participation Features of a Life Insurance, A Joint Research Project – 52p 2007 – IAA (International…

Actuaries Actuarial – Index Actuaries are thought by many to be the problem solvers of the insurance industry. — Charles Trowbridge, Editor 1987 05 – SOA – The Actuary – 2p Richard S. Schweiker*: I’ve heard actuaries described as the engineers of the life insurance business, and I guess that’s a pretty good description. *President of…

Mortality 1949 – REPORT OF THE COMMITTEE ON MORTALITY UNDER ORDINARY INSURANCES AND ANNUITIES, Society of Actuaries – 12p 1999 – Mortality Rates as a function of Lapse Rates – Society of Actuaries California Legal Case – No Difference between Term and Perm

Select and Ultimate The select and ultimate term product is an example of a poorly designed product. The low going-in rate with increasing premium in later years, obviously encourages replacement. (Recall that select and ultimate term are mortality and tax driven, not persistency driven.) — Lawrence Silkes, Vice President and Chief Actuary of New Jersey…

Pricing Pricing, to the actuary, involves the determination of charges related to a set of benefits. — Robert P. Hill 1990 – SOA – Adequacy of Pricing Considerations, Society of Actuaries – 18p Abstract: Traditional life and health products have long been regarded as non-interest sensitive. Pricing has often been done with only a single…

NGEs – Non-Guaranteed Elements – AAA – American Academy of Actuaries actuary.org/committees/dynamic/NGEWG Non-Guaranteed Elements Subcommittee 1980s – AAA – American Academy of Actuaries Task Force on Non-Guarantee Elements, William T. Tozer, Chair 2000s – AAA – American Academy of Actuaries Non-Guaranteed Elements Working Group The Non-Guaranteed Elements Work Group will review actuarial standards of practice,…

ASOPS – Actuarial Standards of Practice actuarialstandardsboard.org/standards-of-practice/ Practice Notes One of my concerns is that we have Practice Notes that people may not be looking at, which in a court of law could be used against you. Read the ASOP; read the regulation and get your hands on the Practice Notes and do what the…

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 – Robin B. Leckie – Address of the President: Actuarial Soundness – 10p 2012 – AAA – Actuarial Soundness, A Public Polic…

Policy Performance ….provide illustrations based on different assumptions. This would serve to demonstrate to the consumer the effect on future benefits of changes in assumptions. STATEMENT ON BEHALF OF THE AMERICAN COUNCIL OF LIFE INSURANCE <ACLI> TO THE NAIC MARKET CONDUCT SURVEILLANCE (EX3) TASK FORCE, June 13, 1988 1988-2, NAIC Proceedings Doc 781 – (p4-5) -…