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 Special Report - Actuarial Soundness Task Force, American Academy of Actuaries - 37p
  • 2013 - ASB - (ASOP-1) - Actuarial Standard of Practice No. 1- Introductory Actuarial Standard of Practice, Actuarial Standards Board - 23p
  • John Huff (Missouri Insurance Commissioner - NAIC)
    • I guess I would add on the asset-based products...
    • I would build on what Commissioner Voss just talked about, about the interstate insurance compact that we have on life and asset products—which actually Illinois has just joined that compact, one of our most recent members—that it is a great vehicle for speed to market as we term it, to get products through a vetting process to make sure consumers are protected, and that they are actuarially sound.
    • And so, I would say that is a very strong vehicle for new product development.

2011 0728 and 1025 - GOV (House) - Insurance Oversight: Policy Implications for U.S. Consumers, Businesses and Jobs - Part 1 2011 0728), Part 2 ( 20111025) - [PDF-285p,

  • 2.3 Actuarial Soundness—The phrase “actuarial soundness” has different meanings in different contexts and might be dictated or imposed by an outside entity.
  • In rendering actuarial services, if the actuary identifies the process or result as “actuarially sound,” the actuary should define the meaning of “actuarially sound” in that context.

2013 - ASB - (ASOP-1) - Actuarial Standard of Practice No. 1- Introductory Actuarial Standard of Practice, Actuarial Standards Board - 23p

  • 1953 03- AP - Actuarial Soundness in Pension Plans with Insurance Companies, by Ray M. Peterson.
    • Journal of the American Association of University Teachers of Insurance, Vol. 20, No. 1, Proceedings of the 17th Annual Meeting, pp. 48-53 (6 pages), Published By: American Risk and Insurance Association 

    • Here lies the body of Ephraim Pine

      Born one-eight-naught-two; Died one-eight-eight-nine

      Between his two wives, Tilly and Sue,

      The twain of them loyal, faithful and true.

      I was fond of them both and was faithful, too,

      So I want to rest between these loved two,

      But I ask my good friends, Abram and Willie,

      Please place me so I'm tilted towards Tilly!