Regulatory Alerts2020-12-03 | 24127Added · Updated
The Insurance (Caribbean Policy Premium Method) Regulations 2020
Made by the Minister of Trinidad and Tobago under the Insurance Act, 2018, these Regulations mandate the use of the Caribbean Policy Premium Method for valuing policy liabilities by insurers carrying on long-term insurance business. The appointed actuary is required to apply specific actuarial standards, including defined margins for adverse deviations ranging from five to twenty percent, and to select assumptions regarding mortality, morbidity, lapses, and investment returns based on current experience. The rules establish detailed obligations for data verification, consistency with financial reporting, and the calculation of policy benefit liabilities to ensure fair presentation in statutory returns.
More like this from CBTT
We email you every new CBTT publication the day it's published.