| Comment | Response |
|---|---|
| One commentator felt there should be a requirement that the combined effect of the assumptions is expected to have no significant bias except for margins for uncertainty. | The reviewers agree and modified the language in section 3.7.6. |
| Comment | Response |
|---|---|
| One commentator suggested that documentation should be provided regarding the development of reasonable assumptions as discussed in section 3.7.1 and 3.7.6. | The reviewers disagree and made no change in response to this comment. |
| One commentator felt that that it should be explicitly stated that the actuary should consider future mortality improvement. | The reviewers agree and modified the language in response to this comment. |
| Comment | Response |
|---|---|
| One commentator expressed the need to document and communicate the development of revenue and expense assumptions, as identified in section 3.7.2. | The reviewers note that the standard addresses this issue in sections 3.7.2 and 4.1(h), and made no change. |
| Comment | Response |
|---|---|
| One commentator suggested the ASOP require an actuary to perform a capital adequacy analysis and develop actuarial reserves. | The reviewers disagree and made no change. |
| Comment | Response |
|---|---|
| One commentator suggested that section 3.7.6 should indicate that there should be consistency among the assumptions. | The reviewers agree and modified the language in response to this comment. |
