Authored by: Tricia Matson The Long Term Care Insurance Multistate Rate Review Subgroup (“the Subgroup”) exposed a Long Term Care Insurance (LTCI) Multistate Rate Review Framework (“the Framework”) which covers a potential approach to increase consistency of LTCI rate review actions across states and improve efficiency of LTCI rate reviews for insurers. RRC appreciates the...
Authored by: Tricia Matson & Ed Toy The Life Actuarial Task Force (LATF) issued a request for feedback related to the concept of an actuarial guideline (AG) focusing on modeling of complex or high-yielding assets in asset adequacy testing (AAT). This request relates to the increasing use of complex investments to back reserves, and the...
Written By: Christine Browning, CFE Published In: SOFE, The Examiner Fall 2021 Economic capital is a means of quantifying a company’s capital needs based on the amount of capital that is necessary to support its risk exposures and execute its business plan. Because economic capital captures more than just the liabilities on a company’s balance...
Authored by: Edward Toy – Senior Manager, Investment Specialist With the COVID-19 Pandemic and the resulting economic turmoil, 2020 was a very challenging year for investors in general, and that included U.S. insurance companies. With financial statement data available for year-end 2020, this is a good time to consider how investments may have changed for...
Dear Commissioner Caride and Mr. Schrader: Risk & Regulatory Consulting, LLC (“RRC” or “we”) supports the efforts of the Financial Stability (EX) Task Force and the Liquidity Assessment (EX) Subgroup (“Subgroup”) to provide additional tools to enable an assessment of macroprudential impacts on the broader financial markets of a liquidity stress impacting a number of...
Written By: Sara Schumacher Published In: SOFE, The Examiner Fall 2020 The insurance industry is not immune to personnel risk. With an ever-changing and volatile job market, coupled with rapid technological advancements and other factors, most notably COVID-19, this risk is becoming more prevalent and cannot be ignored as part of current regulatory examinations. Personnel...
RRC Comments on Long Term Care Insurance Multistate Rate Review Framework