North Dakota Administrative Code
Title 45 - Insurance, Commissioner of
Article 45-04 - Life Insurance
Chapter 45-04-07.2 - Preferred Mortality Tables
Section 45-04-07.2-01 - Definitions

Universal Citation: ND Admin Code ยง 45-04-07.2-01
Current through Supplement No. 394, October, 2024

1. "2001 CSO mortality table" means that mortality table consisting of separate rates of mortality for male and female lives developed by the American academy of actuaries commissioners standard ordinary task force from the valuation basic mortality table developed by the society of actuaries individual life insurance valuation mortality task force and adopted by the national association of insurance commissioners in December 2002. The 2001 CSO mortality table is included in the Proceedings of the National Association of Insurance Commissioners (2nd Quarter 2002) and supplemented by the 2001 CSO preferred class structure mortality table described in subsection 2. Unless the context indicates otherwise, the 2001 CSO mortality table includes both the ultimate form of that table and the select and ultimate form of that table and includes both the smoker and nonsmoker mortality tables and the composite mortality tables. It also includes both the age-nearest-birthday and age-last-birthday bases of the mortality tables. Mortality tables in the 2001 CSO table include the following:

a. "2001 CSO mortality table (F)" means that mortality table consisting of the rates of mortality for female lives from the 2001 CSO mortality table.

b. "2001 CSO mortality table (M)" means that mortality table consisting of the rates of mortality for male lives from the 2001 CSO mortality table.

c. "Composite mortality tables" means mortality tables with rates of mortality that do not distinguish between smokers and nonsmokers.

d. "Smoker and nonsmoker mortality tables" means mortality tables with separate rates of mortality for smokers and nonsmokers.

2. "2001 CSO preferred class structure mortality table" means mortality tables with separate rates of mortality for super preferred nonsmokers, preferred nonsmokers, residual standard nonsmokers, preferred smokers, and residual standard smoker splits of the 2001 CSO nonsmoker and smoker tables as adopted by the national association of insurance commissioners at the September 2006 national meeting and published in the Proceedings of the National Association of Insurance Commissioners (3rd Quarter 2006). Unless the context indicates otherwise, the 2001 CSO preferred class structure mortality table includes both the ultimate form of that table and the select and ultimate form of that table. It includes both the smoker and nonsmoker mortality tables. It includes both the male and female mortality tables and the gender composite mortality tables. It also includes both the age-nearest-birthday and age-last-birthday bases of the mortality table.

3. "Commissioner" means the insurance commissioner.

4. "Statistical agent" means an entity with proven systems for protecting the confidentiality of individual insured and insurer information, demonstrated resources for and history of ongoing electronic communications and data transfer ensuring data integrity with insurers, which are its members or subscribers, and a history of and means for aggregation of data and accurate promulgation of the experience modifications in a timely manner.

General Authority: NDCC 28-32-02

Law Implemented: NDCC 26.1-35-02

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