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Life Statistical Services (LSS) enables companies to comply with experience reporting requirements from any state that permits recognition of preferred mortality tables for use in determining minimum reserve liabilities, where insurers face a mandatory experience reporting requirement.

NAIC Model Regulation 815 (MR 815), adopted by over 40 states, provides insurance companies with an approach for addressing high reserves on preferred risk business. This regulation, entitled "Model Regulation Permitting Recognition of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities," allows for the option to use the 2001 CSO Preferred Class Structure Table instead of an unpartitioned CSO table in states that have adopted it. MIB Solutions' Life Statistical Services provides a cost efficient way to comply with the mandatory reporting of experience that is contained within these state regulations.

Find out more about MIB Solutions' qualifications to serve as a Life Statistical Agent.