Each of these businesses serves both individual and institutional clients. 9702;Distribution channels associated with other Prudential business segments. In addition, we set underwriting limits together with each operation's reinsurers. This excess experience will not be available to shareholders. The model rule will become applicable to us as it is adopted in each state. We cannot predict what impact a new ESG may ultimately have on our businesses. Certain jurisdictions require the disclosure of solvency ratios to the public. It is possible that adjustments to the ICS may be made during this time period. The BEAT provision could, under certain conditions, increase our tax expense. Protecting and supporting our employees is a priority at Prudential. In 2013, he served as Chief Financial Officer of Prudential's International Businesses. Ms. Goodman began her career at Salomon Brothers. ITEM 1A.RISK FACTORS You should carefully consider the following risks. Losses are likely to be higher under stressed conditions. Mortality trend is a long-term risk in that it can emerge gradually over time. This risk is primarily in our disability and long-term care products. Results may vary based on differences between actual and expected benefit utilization. It may also result in a lapse calamity, as discussed above. These strategies may, however, not be fully effective. The COVID-19 pandemic has increased and may continue to increase market risk. Changes in the regulatory landscape may be unsettling to our business model. The Company is exposed to the impact of medical advances in two major ways.