Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 119 - Regulation Number 91- The Recognition of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities › Section XIII-11905 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
A. For purposes of
				this regulation:
2001 CSO Mortality Table
- 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 defined below in
				  Subsection B. Unless the context indicates otherwise, the "2001 CSO Mortality
				  Table" includes both the ultimate form of that table and the select and
				  ultimate form of that table and includes both the smoker and nonsmoker
				  mortality tables and the composite mortality tables. It also includes both the
				  age-nearest-birthday and age-last-birthday bases of the mortality tables.
				  Mortality tables in the 2001 CSO Mortality Table include the following.
2001 CSO Mortality Table (F)
- that mortality
				  table consisting of the rates of mortality for female lives from the 2001 CSO
				  Mortality Table.
2001 CSO Mortality Table (M)
- that mortality
				  table consisting of the rates of mortality for male lives from the 2001 CSO
				  Mortality Table.
Composite Mortality Tables
- mortality tables
				  with rates of mortality that do not distinguish between smokers and
				  nonsmokers.
Smoker and Nonsmoker Mortality Tables
-
				  mortality tables with separate rates of mortality for smokers and
				  nonsmokers.
B.
2001 CSO
				Preferred Class Structure Mortality Table
- 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
(Third Quarter 2006). Unless the context
				indicates otherwise, the "2001 CSO Preferred Class Structure Mortality Table"
				includes both the ultimate form of that table and the select and ultimate form
				of that table. It includes both the smoker and nonsmoker mortality tables. It
				includes both the male and female mortality tables and the gender composite
				mortality tables. It also includes both the age-nearest-birthday and
				age-last-birthday bases of the mortality table.
C.
Statistical Agent
- 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.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.22:3,
				  22:163,
				  22:168 and
				  the Administrative Procedure Act,
				  R.S.
				  49:950 et
				  seq.