ACADEMY IN THE NEWS

The following items contain links to news stories in which the Academy or Academy volunteers appear. Note: The Academy is not responsible for the content of these websites. Some sites may require registration or a subscription. Links may expire.


October 22, 2009
Health Plan Week

The Academy was cited for noting that efforts to increase access to health coverage through guaranteed issue and modified community rating rules—components of the various reform bills—typically result in high-risk individuals being the first to enroll. Thus efforts to draw in low-risk individuals through a mandate or other incentives are crucial in reducing adverse selection and keeping the system viable.

October 18, 2009
Albany Times Union

The Academy's Senior Health Fellow Cori Uccello explained that health insurance coverage for younger adults can be beneficial even though they are lower risk, on average, than older adults.

October 09, 2009
National Underwriter Property & Casualty

The Academy's Senior Life Fellow Nancy Bennett was quoted from her presentation during an Enterprise Risk Management conference. Bennett said that another systemic failure is possible and that whatever regulatory changes are made should be risk-management based.

October 08, 2009
U.S. News & World Report

The Academy's Pension Practice Council Vice President Tom Terry was quoted from an August 2008 press conference advocating that the retirement age for Social Security be increased. Terry said Social Security is facing a demographic problem that demands a demographic solution.

October 08, 2009
Insurance Networking News

James Hurley, who represented the Academy's Medical Professional Liability Subcommittee during an Oct. 8 congressional subcommittee hearing, was quoted from his testimony. Hurley said the language in H.R. 3596 may preclude the collection, aggregation and analysis of data across companies. He said that as a consequence entities would not have credible data in making loss cost determinations and may lead to reduced availability of medical liability coverage, fewer willing insurers, less vigorous competition among those that do write the coverage and higher costs to the consumer.

October 05, 2009
Associated Press / Wichita Eagle

The Academy said that the cost of living for single retirees is about 40 percent higher than for couples in an article about retiring as a single. Cost of living is higher for singles because couples can share housing and other expenses.

September 22, 2009
New York Times

Discussing health care reform, the Academy's Senior Health Fellow Cori Uccello said that if premiums for high-risk individuals do not adequately reflect the costs associated with the coverage, low-risk individuals will pay higher premiums to compensate. Without an effective and enforceable mandate, these low-risk individuals may choose to drop coverage.

September 21, 2009
National Underwriter Life & Health

In supporting the passage of the Standard Valuation Law (SVL), the Academy wrote to the National Association of Insurance Commissioners that the proposed revisions would help consumers by establishing "a reserve system that recognizes all the benefits, guarantees, and funding associated with life insurance contracts and their risks." The Academy also said that applying principle-based reserving principles to the SVL would define a framework to "enable companies to price products with reserves more closely aligned to the assumed risks."

September 16, 2009
LexisNexis Insurance Law Center

The Academy's Life Practice Council Vice President Tom Campbell said that the actuaries are pleased that the National Association of Insurance Commissioners Life Insurance and Annuities Committee decided to adopt revisions to the Standard Valuation Law as it is a milestone toward implementing a principle-based approach.

September 15, 2009
Investor's Business Daily

The Academy's Consumer-Driven Health Plan (CDHP) Work Group's recent study of emerging data on CDHPs was cited in op-ed on controlling health care costs.

September 13, 2009
Real Clear Politics

The Academy's Consumer-Driven Health Plan (CDHP) Work Group's recent study of emerging data on CDHPs was cited and discussed in op-ed.

September 13, 2009
"Retirement Matters"

The Academy's Senior Pension Fellow Frank Todisco was the special guest on an Ohio retirement planning radio show. Todisco discussed the seven sources of retirement income.

September 10, 2009
Queens Tribune

Letters from the Academy's Senior Pension Fellow Frank Todisco to FOX News Channel and Rep. Anthony Weiner were cited. Todisco wrote to clarify misunderstandings about the process of determining cost of living adjustments for Social Security.

September 09, 2009
The Insurance Bellwether

Donna Claire, who represented the Academy during a National Association of Insurance Commissioners Life Insurance and Annuities Committee conference call, said that while the Academy had some concerns, it wholeheartedly supports the passage of the Standard Valuation Law.

September 03, 2009
Fortune / CNNMoney.com

An actuarial analysis of the Community Living Assistance Services and Supports (CLASS) Act provision conducted by a joint work group of the Academy's Federal Long-Term Care Task Force and the Society of Actuaries Long-Term Care Insurance Section Council was cited and extensively discussed.

August 23, 2009
Associated Press / Buffalo News

The Academy was cited as a source of life expectancy statistics and estimated break-even age between those who file early for Social Security and those who choose to wait. Those who live beyond the break-even age will gain more by waiting to collect benefits. 

August 14, 2009
The Insurance Bellwether

Donna Claire, the chairperson of the Academy's Life Financial Soundness/Risk Management Committee, addressed calibration criteria following a discussion of scenario generators during a conference call with regulators.

August 13, 2009
Scripps Howard Foundation Wire

Shari Westerfield, the Academy's chairperson of the Committee on State Health Issues, said that gender rating and other premium factors are needed to make a voluntary insurance system function.

August 13, 2009
St. Louis Post-Dispatch

The Academy's Senior Life Fellow Nancy Bennett said smokers pay higher life insurance premiums because of the increased risk of death.

August 10, 2009
National Underwriter Life & Health

The Academy's support of proposed revisions to the Standard Valuation Law to establish a principle-based reserving approach was cited. The Academy has contended that the revisions will establish greater uniformity of life insurance reserve requirements across states.

August 09, 2009
"Retirement Matters"

The Academy's Senior Pension Fellow Frank Todisco was the special guest on an Ohio retirement planning radio show. Todisco discussed various retirement security issues including risks associated with different retirement systems.

August 06, 2009
NewMajority.com

Former Congressional Budget Office Director Douglas Holtz-Eakin cited a recent actuarial analysis of the CLASS Act provision. The analysis was conducted by a joint work group of the Academy Federal Long-Term Care Task Force and the Society of Actuaries Long-Term Care Insurance Section Council.

August 06, 2009
Associated Press / Lakeland Ledger

The Academy was cited as a source of life expectancy statistics and estimated break-even age between those who file early for Social Security and those who choose to wait. Those who live beyond the break-even age will benefit more by choosing to wait to collect Social Security.

August 01, 2009
Managed Care Magazine

The Academy's June 2009 issue brief on value-based insurance design was featured in a cover story on the subject.

July 29, 2009
National Underwriter Life & Health

Tom Campbell, the vice president of the Academy's Life Practice Council, was quoted after proposed revisions to the Standard Valuation Law were approved by two bodies of the National Association of Insurance Commissioners (NAIC). Campbell encouraged "the NAIC to adopt the proposed revisions without delay to establish greater uniformity of life insurance reserve requirements across states."

July 29, 2009
Roll Call

An analysis of the Community Living Assistance Services and Supports Act (CLASS Act) performed by a joint work group of the Academy's Federal Long-Term Care Task Force and the SOA's Long-Term Care Insurance Section Council was cited. The actuaries said the CLASS Act would require premiums that may exceed affordable levels for many people.

July 23, 2009
National Underwriter Life & Health

Article discussed the Academy's letter to Congress that included an actuarial analysis of the Community Living Assistance Services and Supports Act (CLASS Act) along with recommendations on improving this long-term care program provision.

July 21, 2009
Dow Jones Newswire / Nasdaq.com

The U.S. Treasury Assistant Secretary Alan Krueger delivered remarks on the labor markets during the Academy's Financial Summit.

July 02, 2009
The Insurance Bellwether

The Academy's June 30 webcast on principle-based approach updates following the National Association of Insurance Commissioners (NAIC) summer meeting was summarized. Webcast speakers cheered the advancement of the revised Standard Valuation Law, which may soon be considered for adoption by the NAIC's Life & Annuities "A" Committee.

July 01, 2009
Kiplinger's Retirement Report

The Academy's Senior Pension Fellow Frank Todisco was quoted in a financial feature on annuities. Todisco said that immediate fixed annuities, like defined benefit pensions, protect against the risk of living so long that you run out of money.