OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has updated its 2015 statement year “Life and Annuity Supplemental Rating Questionnaire” (blue book filers) (SRQ) in a few key areas. New this year, the majority of questions require consolidated group information that corresponds to A.M. Best’s rating units. These rating units represent either a single company or a group of several affiliated member companies that share a common rating assignment. In order to access the 2015 SRQ electronic product, companies will be asked to enter the organization’s A.M. Best rating unit number. Rating unit references can be found within the Best’s Insurance Reports, Best’s Rating Monitor and the company’s Galley Report.
With regard to changes affecting the specific questions in the SRQ, the areas affected include the elimination of former question No. 2 detailing new business premium by distribution channel, a breakout of reserves for individual and group long-term care and long-term disability, and the addition of effective asset and liability durations for select life, annuity and accident & health products.
For the long-term care and long-term disability products, A.M. Best is requesting the reserves broken out by active reserve, asset adequacy reserve and claim reserve amounts for both individual and group policies in order to assess the various components of the reserves. Additionally, for select life, annuity and accident & health products, A.M. Best is requesting effective asset and liability durations to review the asset liability matching for these specific products.
A copy of the new and revised SRQ questions can be accessed at: www.ambest.com/srq.
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