Actuarial – Page 9

Pricing It’s tough to price in a very disciplined way when any fly-by-night company can come by and undercut you. Somebody could take a flier and come out with a product with a low rate and if it works out they benefit, if it doesn’t work out we pay the cost. — Michael Davlin 1985 -…

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 – Walker v LSW -…

Actuarial Tables Commutation CSO CET Mortality Actuarial Tables: Commissioners 1941 Standard Ordinary Mortality Table (1941 CSO) V. 1-, Volume 3 Actuarial Society of America Society and the Institute, 1945 Commutation Columns and Valuation Factors Based on 1980 CSO Mortality Table: Age last birthday – Actuarial Publishing House, 1981 TERM AND WHOLE- LIFE INSURANCE COST AS DEVELOPED…

The Actuarial Foundation (TAF) The Actuarial Foundation – Emeritus Trustees – 2023 — [BonkNote] actuarialfoundation.org/ actuarialfoundation.org/get-to-know-us/meet-the-board/ Another significant development has been the emergence of the Actuarial Education and Research Foundation. It is hoped that this will be a vehicle through which the actuarial profession can perform badly needed research work for governments and other bodies,…

1990s – Actuarial – Snippets I think we need to focus more on building a knowledge base. It seems to me our knowledge base is what we live or die on. — Anna Rappaport, (2023 – The Actuarial Foundation, Emeritus Trustee) 1990 06 – SOA – The Actuary Magazine, Society of Actuaries – 5p William…

Accountability Second, it was observed that ….. there is virtually no accountability for any of the participants in the sale, ..not for the company, not for the agent, and interestingly, the white paper discussed accountability on the part of the purchaser as well. — Robert E. Wilcox, Utah Insurance Commissioner and Chairman of the Life Disclosure Working…

Futurism 1977 – SOA – Futurism, Society of Actuaries – 18p 1983 – SOA – Futurism – An Art and a Science, Society of Actuaries – 22p soa.org/globalassets/assets/library/newsletters/the-actuary/1987/november/act-1987-vol21-iss09-corbett.pdf