Regulators are talking about the standards that ought to apply to the new valuation manual.
The manual is supposed to come out sometime this year along with an upcoming update of the National Association of Insurance Commissioners’ Standard Valuation Law model.
Members of the American Academy of Actuaries, Washington, are working on a draft of the manual together with members of a subgroup of the Life and Health Actuarial Task Force at the NAIC, Kansas City, Mo.
One question for LHATF members is whether the valuation manual has to be complete or nearly complete when the amended SVL model comes out, or whether regulators can start with a bare-bones manual and flesh it out over time.
Regulators from Kentucky say they need a “fairly complete” version of the manual to get the SVL model through their legislature.