Actuarial standards provide context for dealing with COVID-19.
The impact of COVID-19 on morbidity experience is still unknown at this stage. In this article, Mario St-Hilaire and Steve Turmel discuss the key considerations that relate to the assumption-setting process for morbidity in these unprecedented times.
The experience related to the impact of COVID-19 on lapse/persistency of life and health insurance contracts is just starting to emerge and life insurers are monitoring this experience closely. Amal Rajwani and Dan Doyle discuss short-term and long-term considerations in relation to lapse and persistency.
This article originally appeared on the CIA COVID-19 Hub. By Michelle Lindo, FCIA, Chair of the Committee on Risk Management and Capital Requirements This article reflects the opinion of the author and is not official guidance of the CIA. The author welcomes feedback on this article and suggestions for future articles, and invites CIA members to regularly visit the CIA COVID-19 Hub for thought...