Course Library
Life Principle-Based Reserves for Non-Actuaries
Sovos Compliance, LLCThis course is designed to open the Principle-Based Reserve (PBR) "black box" to illuminate for non-actuaries what PBR is intended to accomplish and how it works.
It will also identify the PBR implications for directors, senior management, and others involved in statutory financial reporting who need to know about this milestone transition in actuarial valuation.
Upon successful completion of this course, you will be able to:
- Identify the intent and components of Principle-Based Reserves (PBR)
- Identify the responsibilities of the reporting entity's Board, Senior Management, Qualified Actuaries, and Appointed Actuary
- Identify PBR reporting and certifications required by the NAIC
- Identify the implications of PBR for regulatory review and examinations, next products to be addressed, and potential impact on reporting entity Risk-Based Capital, operations, products, and federal income tax reserves
Course Content:
- Principle-Based Reserves (PBR)
- VM-20 Life Products
- VM-G Governance of Actuarial Valuation
- PBR Reporting and Certifications
- Other PBR Implications
- PBR and Regulatory Review and Examinations
- PBR Next Products to be Addressed
- PBR and Risk-Based Capital
- PBR Impacts on Company Operations and Products
- PBR and FIT Reserves
Prerequisites/Advance Preparation: None
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