Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 5 - PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 16-171-502 - Definitions

Current through June, 2024
As used in this subchapter:
"2001 CSO Mortality Table" means that mortality table,
				  consisting of separate rates of mortality for male and female lives, developed
				  by the American Academy of Actuaries CSO Task Force from the Valuation Basic
				  Mortality Table developed by the Society of Actuaries Individual Life Insurance
				  Valuation Mortality Task Force and adopted by the NAIC in December 2002. The
				  2001 CSO Mortality Table is included in the Proceedings of the NAIC
				  (2nd Quarter 2002) and supplemented by the 2001 CSO
				  Preferred Class Structure Mortality Table. Unless indicated otherwise, the 2001
				  CSO Mortality Table includes:
(1) Both the ultimate form of that table and the select and
				  ultimate form of that table;
(2) Both the smoker and nonsmoker mortality tables and the
				  composite mortality tables;
(3) Both the age-nearest-birthday and age-last-birthday bases
				  of the mortality tables;
(4) The "2001 CSO Mortality Table (F)" that consists of the
				  rates of mortality for female lives from the 2001 CSO Mortality Table;
(5) The "2001 CSO Mortality Table (M)" that consists of the
				  rates of mortality for male lives from the 2001 CSO Mortality Table;
(6) The "Composite mortality tables" that consist of tables
				  with rates of mortality that do not distinguish between smokers and nonsmokers;
				  and
(7) The 'Smoker and nonsmoker mortality tables" that consist
				  of mortality tables with separate rates of mortality for smokers and
				  nonsmokers.
"2001 CSO Preferred Class Structure Mortality Table" means
				  mortality tables with separate rates of mortality for Super Preferred
				  Nonsmokers, Preferred Nonsmokers, Residual Standard Nonsmokers, Preferred
				  Smokers, and Residual Standard Smoker splits of the 2001 CSO Nonsmoker and
				  Smoker tables as adopted by the NAIC at the September 2006 national meeting and
				  published in the NAIC Proceedings (3rd Quarter
				  2006). Unless the context indicates otherwise, the 2001 CSO Preferred Class
				  Structure Mortality Table includes:
(1) Both the ultimate form of that table and the select and
				  ultimate form of that table;
(2) Both the smoker and nonsmoker mortality tables found in
				  the 2001 CSO Mortality Table;
(3) Both the male and female mortality tables and the gender
				  composite mortality tables found in the 2001 CSO Mortality Table; and
(4) Both the age-nearest-birthday and age-last-birthday bases
				  of the mortality table found in the 2001 CSO Mortality Table.
"CSO" means Commissioners' Standard Ordinary.
"NAIC" means the National Association of Insurance
				  Commissioners.
"Statistical agent" means an entity with proven systems for
				  protecting the confidentiality of individual insured and insurer information,
				  demonstrated resources for and history of ongoing electronic communications and
				  data transfer ensuring data integrity with insurers, which are its members or
				  subscribers, and a history of and means for aggregation of data and accurate
				  promulgation of the experience modifications in a timely manner.