Life Actuarial (A) Task Force/ Health Actuarial (B) Task Force Amendment Proposal Form Identify yourself, your affiliation and a very brief description (title) of the issue. Staff of Office of Principle-Based Reserving, California Department of Insurance Clarify language about Starting Assets. – Identify the document, including the date if the document is for comment,” and the location in the “released document where the amendment is proposed: Valuation Manual (January 1, 2018 edition), with NAIC Adoptions through August 8, 2017 as amended by APF – adopted 11/30/2017, VM-20 Sections 7.D.1, 7.D.3, and 7.D.7 Show what changes are needed by providing a red-line version of the original verbiage with deletions and identify the verbiage to be deleted, inserted or changed by providing a red-line (turn on changes” in Word®) version of “track the verbiage. (You may do this through an attachment.) See attached Appendix. These changes are non-substantive in nature. State the reason for the proposed amendment? (You may do this through an attachment.) See attached Appendix. . NAIC Staff Comments: Dates: Received Reviewed by Staff Distributed Considered Notes: APF 2018-03 (CA APF AI) W:\National Meetings\2010\...\TF\LHA\ © 2015 National Association of Insurance Commissioners Appendix ISSUE: Clarify Starting Asset language, in several respects: Make it clearer that determining Starting Assets is an iterative process. Clarify that the asset collar applies to the final iteration, not the first guess. SECTION: VM-20 Section 7.D.1, 7.D.3, and 7.D.7 REDLINE: VM-20 Section 7.D.
Life Actuarial (A) Task Force/ Health Actuarial (B) Task Force Amendment Proposal Form Identify yourself, your affiliation and a very brief description (title) of the issue. Staff of Office of Principle-Based Reserving, California Department of Insurance – Clarify language about Starting Assets. Identify the document, including the date if the document is “released for comment,” and the location in the document where the amendment is proposed: Valuation Manual (January 1, 2018 edition), with NAIC Adoptions through August 8, 2017 – as amended by APF adopted 11/30/2017, VM-20 Sections 7.D.1, 7.D.3, and 7.D.7 Show what changes are needed by providing a red-line version of the original verbiage with deletions and identify the verbiage to be deleted, inserted or changed by providing a red-line (turn on “track changes” in Word®) version of the verbiage. (You may do this through an attachment.) See attached Appendix. These changes are non-substantive in nature. State the reason for the proposed amendment? (You may do this through an attachment.) See attached Appendix. . NAIC Staff Comments: Dates: Received Reviewed by Staff Distributed Considered Notes: APF 2018-03 (CA APF AI) W:\National Meetings\2010\...\TF\LHA\ © 2015 National Association of Insurance Commissioners Appendix ISSUE: Clarify Starting Asset language, in several respects: Make it clearer that determining Starting Assets is an iterative process. Clarify that the asset collar applies to the final iteration, not the first guess. SECTION: VM-20 Section 7.D.1, 7.D.3, and 7.D.7 REDLINE: VM-20 Section 7.D.