Discussion drafts of the Actuarial Standards Board (ASB) precede possible exposure drafts to illustrate how an actuarial standard of practice (ASOP) might evolve. The ASB has neither reviewed nor approved these discussion drafts. They are not exposure drafts, and so include no formal comment period. Interested parties are invited to contact the task force that developed a particular discussion draft.

If, after creation of the discussion draft, the ASB decides to proceed with development of a standard, the next step for the task force would be to create an exposure draft. This would follow discussions with interested parties and, for those drafts that are paired with regulation, adoption of a regulation by the NAIC or another regulatory body. That exposure draft (which will draw on the ideas in this discussion draft modified by discussions with interested parties and unfolding events) will go through the normal ASOP process:

  1. The task force will submit the exposure draft to its parent ASB committee.
  2. The parent ASB committee will revise the exposure draft and submit it to the ASB.
  3. The ASB will revise the exposure draft and release it to all actuaries and other interested parties for comment. The ASB has the final authority with respect to actuarial standards of practice.
  4. Following the end of the exposure period, the task force will revise the exposure draft based on comments received and produce a proposed ASOP or a second exposure draft (depending on the amount of change). This document will follow the same process as the original exposure draft (and even if submitted as a proposed final ASOP may be changed to a second exposure draft by the parent ASB committee or the ASB).
  5. The ASOP will become effective only after final approval by the ASB.

To obtain a hard copy of any discussion draft, please e-mail asbrequests@actuary.org.

Discussion Drafts

 

 

Capital Adequacy Assessment for Insurers (Discussion Draft)

Category:
Date Approved: May 2015
Date Exposed:
Status: Discussion Draft

Request for Comments – Life Insurance and Annuity Pricing ASOP

Category:
Date Approved: October 2014
Date Exposed:
Status: Discussion Draft

Determining Minimum Value and Actuarial Value Under the Affordable Care Act

Category:
Date Approved: April 2014
Date Exposed:
Status: Discussion Draft

Standards for Life-Insurance Required Capital Levels

Category:
Date Approved: August 2009
Date Exposed:
Status: Discussion Draft

Standards for Principle-Based Reserves for Life Products

Category:
Date Approved: June 2012
Date Exposed:
Status: Discussion Draft

Independent Review of Principles-Based Valuations

Category:
Date Approved: May 2007
Date Exposed:
Status: Discussion Draft

Modeling in Life Insurance and Annuities

Category:
Date Approved: February 2012
Date Exposed:
Status: Discussion Draft

Actuarial Standards of Practice for Enterprise Risk Management

Category:
Date Approved: March 2011
Date Exposed:
Status: Discussion Draft

Measuring Pension Obligations and Determining Pension Plan Costs or Contributions

Category:
Date Approved: January 2011
Date Exposed:
Status: Discussion Draft