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Froogle 1.1.1.7
Froogled By:
Elias Makere, FSA, MAAA
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ASOP 5 | §3.5 | FOLLOW-UP STUDIES

The actuary may conduct follow-up studies that involve performing tests of reasonableness of the prior period asset or liability estimates and the methods used over time. When conducting such follow-up studies, the actuary should, to the extent practicable, do the following:
a. acquire the data to perform such studies;

b. perform studies in the aggregate or for pertinent blocks of business; and

c. utilize the results, if appropriate, in estimating incurred claims.
ASOP 5 | Commentary Section 3.5 | COMMENT ON SECTION 3.5
Section 3.5, Follow-Up Studies
CommentResponse
One commentator questioned the removal of the requirement to perform testing of the reserve methodology.The reviewers believe the language removed was educational only, and does not impact any obligation to perform follow-up studies that may exist.
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