Statistical Reports Required of Insurers Using The 2001 CSO Preferred Class Structure Mortality Table

Armorial Bearings STATE OF CONNECTICUT INSURANCE DEPARTMENT www.ct.gov/cid P.O. Box 816 Hartford, CT 06142-0816 An Equal Opportunity Employer BULLETIN FS - 22 June 23, 2008 TO: All Life Insurers and Reinsurers Authorized To Conduct Business In Connecticut RE: Statistical Reports Required of Insurers Using the 2001 CSO Preferred Class Structure Mortality Table The purpose of this Bulletin is to notify insurers of the Insurance Commissioner's decision to waive the 2007 mortality experience reporting requirements to be reported in 2008 for all insurers using the 2001 CSO Preferred Class Structure Mortality Table. Section 38a-78-34 of the Regulations of the Connecticut State Agencies, dealing with Recognition Of Preferred Mortality Tables For Use In Determining Minimum Reserve Liabilities, requires every authorized insurer using the 2001 CSO Preferred Class Structure Mortality Table to annually file with the Commissioner, the NAIC, or with a statistical agent acceptable to the Commissioner, statistical reports showing mortality and such other information as the Commissioner may deem necessary or expedient for the administration of this rule. Currently, there is no reporting mechanism in place in any state; therefore, the NAIC has identified the need to establish uniform reporting requirements and processes. The Life Health Actuarial Task Force is developing a recommendation of how to comply with the requirements of each state’s laws. Until such time as this recommendation is accepted by the NAIC, the Commissioner has determined that reporting requirements will be waived. Subsection (c) of Section 38a-78-34 gives the Commissioner the discretion to exempt any company from said reporting requirement. For experience required to be reported in 2008, the Commissioner exempts all companies using the 2001 CSO Preferred Class Mortality Structure Table from filing the statistical reports required under Section 38a- 78-34 of the Regulation of the Connecticut State Agencies. Please contact the Insurance Department Financial Regulation Division at ctinsdept.financial@ct.gov with any questions. Thomas R. Sullivan - Insurance Commissioner _______________________________ Thomas R. Sullivan Insurance Commissioner