In order to reduce poverty in rural and urban areas and to promote regional development, Kibaki upheld the LATF
initiative that Moi had introduced in 1998, albeit with stricter accountability requirements for local authorities.
Members of the LATF
group appear to be looking at the guaranteed issue, simplified issue and accelerated underwriting programs mainly because life market players and observers want to have "apples to apples" comparisons of how different types of products are doing, not because anyone has been talking about any significant problems resulting from use of the programs.
Michele Elyzabeth, CEO of LATF
& President of the 1st Hollywood Beauty Awards stated, “It was a memorable night.
Bruins asked LATF
members on the call how to best define small companies under PBR, though, considering its impact.
Ron Klug, a spokesman for the New York Insurance Department, said the report that was presented to the LATF
was not the position of the New York department.
, which had been investigating the ivory for the last few months, indicated the consignment moved through Zambia, Malawi and South Africa before being seized in Singapore in June.
13 meeting, that the Valuation Manual and the amendments adopted so far remain under the parent committee's jurisdiction while LATF
works through remaining issues.
To wit, the prospect of contracts with inadequate reserves for universal life with secondary guarantee policies (USLG) led some regulators, as the NAIC wrote, to bring the issue to the Life Actuarial Task Force (LATF
), which issued a statement on AG 38 in September 2011 to caution about the possibility of some insurers holding "reserves [that] do not properly reflect the full benefits of the secondary guarantee as required by the law, regulation and guideline."
Mark Birdsall, chief actuary with the Kansas Insurance Department, told regulators more work needs to be done on reserving and risk-based capital (RBC) for this product and that the Life Actuarial Task Force (LATF
) or the Life RBC working group could be the group to deal wit it.
And I am sure that if you asked LATF
members that they would all agree that this is the most time intensive project that they have worked on, and I hear that from our member companies," Kempthorne said.
The American Council of Life Insurers (ACLI) said it was "very disappointed" that the key task force involved in setting standards adopted amendments to override the mortality assumption setting proposal developed by the American Academy of Actuaries' (AAA), in a letter to Mike Boerner, chair of the NAIC Life Actuarial Task Force (LATF
) and the lead Texas actuary.
The NAIC's Life Actuarial Task Force (LATF
) of the Life Insurance and Annuities (A) Committee debated net reserving methodology changes proposed by the American Council of Life Insurers (ACLI) today for universal life insurance products with secondary guarantees, with actuaries from New York, Bill Carmello and Amanda Fenwick expressing concern for the proposed reserving methods.