North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-04 - Life Insurance › Chapter 45-04-07.2 - Preferred Mortality Tables › Section 45-04-07.2-01 - Definitions

Current through Supplement No. 393, July, 2024
1. "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 commissioners standard ordinary 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
				  national association of insurance commissioners in December 2002. The 2001 CSO
				  mortality table is included in the Proceedings of the National Association of
				  Insurance Commissioners (2nd Quarter 2002) and supplemented by the 2001 CSO
				  preferred class structure mortality table described in subsection 2. 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 table include the following:
a. "2001 CSO mortality table (F)" means that mortality table
				  consisting of the rates of mortality for female lives from the 2001 CSO
				  mortality table.
b. "2001 CSO mortality table (M)" means that mortality table
				  consisting of the rates of mortality for male lives from the 2001 CSO mortality
				  table.
c. "Composite mortality tables" means mortality tables with
				  rates of mortality that do not distinguish between smokers and nonsmokers.
d. "Smoker and nonsmoker mortality tables" means mortality
				  tables with separate rates of mortality for smokers and nonsmokers.
2. "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 national association of insurance commissioners
				  at the September 2006 national meeting and published in the Proceedings of the
				  National Association of Insurance Commissioners (3rd
				  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.
3. "Commissioner" means the insurance commissioner.
4. "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.
General Authority: NDCC 28-32-02
Law Implemented: NDCC
					 26.1-35-02