WHERE HAVE YOU GONE, CHIP HILTON?
Somewhere Over the Rainbow
Investment Management Roundtable Discussion – Personal Estate Planning
On February 24th, the NAIC Life Insurance and Annuity (A) Committee (A Committee) adopted amendments to Actuarial Guideline (AG) 49-A to address a concern raised by state insurance regulators regarding the use of...more
Yet another battle in the actuarial equivalence fight has just been resolved—and is immediately headed for appellate review. In Belknap v. Partners Healthcare System, Inc., the Plaintiff argued that the annuity payment he...more
When last we left the Actuarial Standards Board (ASB), the board was considering comments on the first exposure draft of proposed changes to Actuarial Standard of Practice No. 2 (ASOP 2), now titled “Nonguaranteed Elements...more
The NAIC and the Interstate Insurance Product Regulation Commission (“Compact”) are cooking up various initiatives that will impact life and annuity issuers. Below is the spread of the different issues....more
The U.S. District Court for the Northern District of Texas dealt a major blow to the putative class action Torres v. American Airlines, Inc., finding that the four named plaintiffs are not adequate class representatives for...more
In an opinion issued in Smith v. Rockwell Automation, Inc., et al., No. 19-C-0505 (E.D. Wis.) on Feb. 10, 2020, U.S. District Judge Lynn Adelman denied Rockwell Automation's motion to dismiss a putative class action complaint...more
Eleven cases have been filed against defined benefit pension plan sponsors and certain fiduciaries alleging that the plan’s assumptions—called “actuarial equivalence factors” or “actuarial equivalence assumptions”— for...more
People complain a lot about life these days, but one fun fact is that people are living longer than they did just 20 years ago. Thankfully, the Internal revenue Service (IRS) noticed too....more
Actuaries and Insurers Take Note - The Actuarial Standards Board (ASB) has exposed for comment significant proposed changes to Actuarial Standard of Practice No. 2, “Nonguaranteed Charges or Benefits for Life Insurance...more
The Actuarial Standards Board (ASB) exposed wholesale changes to Actuarial Standard of Practice No. 2 - Nonguaranteed Charges or Benefits for Life Insurance Policies and Annuity Contracts (ASOP 2), which has not changed since...more
On October 20, the NAIC Life Actuarial (A) Task Force (LATF) of the Life Insurance and Annuities (A) Committee met and approved proposed revisions to Actuarial Guideline 49 (AG 49) for exposure and comment. If adopted, the...more
On July 27, 2016, the Life Insurance and Annuities (A) Committee adopted revisions to Actuarial Guideline 49 (AG 49) to address situations where indexed universal life (IUL) insurance policies make available multiple index...more