N.H. Code Admin. R. Ins 3509.07 – Transition Rules

(a) For preneed insurance policies issued on or after September 2, 2008 and before January 1, 2012, the 2001 CSO may be used as the minimum standard for reserves and minimum standard for non-forfeiture benefits for both male and female insureds.
(b) If an insurer elects to use the 2001 CSO as a minimum standard for any policy issued on or after September 2, 2008 and before January 1, 2012, the insurer shall provide, as a part of the actuarial opinion memorandum submitted in support of the company's asset adequacy testing, an annual written notification to the domiciliary commissioner. The notification shall include:
1. (1) A complete list of all preneed forms that use the 2001 CSO as a minimum standard;
2. (2) A certification signed by the appointed actuary stating that the reserve methodology employed by the company in determining reserves for the preneed policies issued after the effective date and using the 2001 CSO as a minimum standard, develops adequate reserves. For the purposes of this certification, the preneed insurance policies using the 2001 CSO as a minimum standard shall not be aggregated with any other policies; and
3. (3) Supporting information regarding the adequacy of reserves for preneed insurance policies issued after September 2, 2008 and using the 2001 CSO as a minimum standard for reserves.
(c) Preneed insurance policies issued on or after January 1, 2012, shall use the Ultimate 1980 CSO in the calculation of minimum nonforfeiture values and minimum reserves.
Source. #9245, eff 9-2-08; ss by #11148, eff 9-2-16
Appendix A- Statutes Implemented
Rule
Specific State or Federal Statutes or Regulations the Rule Implements
Ins 3501.01
RSA 400-A:15, I; 410:3; 408:33
Ins 3502.01
RSA 400-A:15, I; 410:2; 408:33
Ins 3503.01
RSA 400-A:15, I; 410:2, 408:33
Ins 3504.01
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3504.02
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3504.03
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.01
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.02
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.03
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.04
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.05
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.06
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.07
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3505.08
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3506.01
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3506.02
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3506.03
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3506.04
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 408:33
Ins 3507.01
RSA 400-A:15; 410:3; RSA 408:33; RSA 409:5-b, VIII(f)(1)-(2)
Ins 3507.02
RSA 410:2; RSA 408:33; RSA 409:5-b; RSA 409:5-c; RSA 409:6-a
Ins 3507.03
RSA 410:4; RSA 410:5; RSA 410:7; RSA 408:33; 409:5-b; 409:5-c; RSA 409:6-a
Ins 3507.04
RSA 410:4; RSA 410:5; RSA 410:7; RSA 408:33; RSA 409:5-b; RSA 409:5-c;
RSA 409:6-a
Ins 3507.05
RSA 410:4; RSA 410:5; RSA 410:7; RSA 408:33; RSA 409:5-b; RSA 409:5-c;
RSA 409:6-a
Ins 3507.06
RSA 410:4; RSA 410:5; RSA 410:7; RSA 408:33; RSA 409:5-b; RSA 409:5-c;
RSA 409:6-a
Ins 3507.07
RSA 400-A:15
Ins 3508.01
RSA 400-A:15, I; RSA 410:3; RSA 408:33; RSA 409:5-b, VIII(f)
Ins 3508.02
RSA 410:2; RSA 408:33; RSA 409:5-b; RSA 409:5-c; RSA 409:6-a
Ins 3508.03
RSA 410:4; RSA 410:5; RSA 410:6; RSA 410:7; RSA 408:33; RSA 409:5-b; RSA 409:5-c; RSA 409:6-a
Ins 3508.04
RSA 410:4; RSA 410:5; RSA 410:6; RSA 410:7; RSA 408:33; RSA 409:5-b; RSA 409:5-c; RSA 409:6-a
Ins 3509.01
RSA 400-A:15, I; 409; 410
Ins 3509.02
RSA 400-A:15, I; 410:2; 409:2; 409:5-b; 409:5-c; 409:6-a
Ins 3509.03
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 409:2; 409:5-b; 409:5-c; 409:6-a
Ins 3509.04
RSA 400-A:15, I; 410:2; 410:4; 410:5; 410:6; 410:7; 409:5-b; 409:5-c; 409:6-a
Ins 3509.05
RSA 400-A:15, I; 410:2; 410:3-b; 410:4; 410:5; 410:6; 410:7; 409:5-b; 409:5-c; 409:6-a
Ins 3509.06
RSA 400-A:15, I; 410:2; 410:4; 410:5; 410:6; 410:7; 409:5-b; 409:5-c; 409:6-a
Ins 3509.07
RSA 400-A:15, I; 409:5-a; 409:5-b; 409:5-c; 409:6; 409:6-a; 409:8; 410:3-a; 410:3-b
APPENDIX B
Incorporation by Reference Information
Rule
Title
Obtain at:
Ins 3502.01(a)(1)b.2; 3503.01(b); 3503.01(f); 3504.01(a); 3504.02(a); 3505.05(a)(4); 3505.06(a)(4); 3505.07(a)(2); 3506.01(a)(2)
1980 Commissioners’ Standard Ordinary Mortality Table (1980 CSO Table) developed by the Society of Actuaries
Published by Society of Actuaries
Available for no cost at: http://mort.soa.org/
Ins 3504.02(a)(3)i.2
Actuarial Standards of Practice Developed by the Actuarial Standards Board
Published by the Actuarial Standards Board
Available for no cost at:
http://www.actuarialstandardsboard.org/
standards-of-practice/
Ins 3504.01(a)(1); 3504.02(a)(1); 3505.03
Standard Valuation Law adopted by the National Association of Insurance Commissioners (NAIC) in 1980
Published by the NAIC
Available for no cost at:
http://www.naic.org/store/free/MDL-820.pdf
Ins 3509.01;
Ins 509.03(b);
Ins 3509.04;
Ins 3509.07(c)
Ultimate 1980 CSO
On-line, for no cost:
http://www.nh.gov/insurance/legal/documents/1980_cso_table_1980_cet_tbl.pdf
Ins 3509.03(a); Ins 3509.07
2001 CSO Mortality Table
On-line, for no cost: http://www.nh.gov/insurance/legal/documents/2001_cso_2002_naic_proc1153.pdf