American Academy of Actuaries: Committee Comments to LATF on Actuarial Reporting Template for IMR insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.
During the December 8 Life Actuarial Task Force& meeting, the Index Universal Life Illustration (A) Subgroup reported on its findings regarding IUL illustrations following the.
On November 29, the NAIC Index-Linked Variable Annuity (A) Subgroup (ILVA Subgroup) issued a proposed actuarial guideline to clarify the application of NAIC Model 250, Variable Annuity.
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As the year of COVID-19 closes, NAIC groups are adopting their charges for 2021. Especially notable are the following:
Life Actuarial Task Force (LATF)
LATF’s Indexed Universal Life Illustration Subgroup will:
monitor the results and practices of IUL illustrations following implementation of Actuarial Guideline 49-A; and
review the current regulatory framework and recommend changes to Life Insurance Illustrations Model Regulation (#582) to LATF, as needed.
Producer Licensing (D) Task Force
This group will finalize its white paper on the role of chatbots and artificial intelligence (AI) in the distribution of insurance and the regulatory supervision of these technologies in time for the NAIC’s 2021 Spring National Meeting.