AmericanAcademyOfActuaries

The Academy relies upon the active participation of more than a thousand volunteers from every practice area who lend their skill, knowledge, and experience to the Academy's work on professionalism and public policy issues. Members are invited to complete the Academy's annual Volunteer Survey, which is now available on the members-only section of the Academy website. The survey will close on Friday, July 15.

Slide presentations from the May 18 seminar, Preparing for Change under PBA: Life Company Reserves and Capital are available for download. You will find presentations on "hot topics" and information specific to the implementation challenges related to the Principle-Based Approach (PBA) for statutory reserves and capital. It was jointly sponsored by the Society of Actuaries and the American Academy of Actuaries.

 

WASHINGTON -- Jan. 6, 2010 -- Albert J. Beer began his term as the chairperson of the Actuarial Standards Board on Jan. 1. He was appointed to the post by the Council of U.S. Presidents, a committee comprised of the presidents and presidents-elect of the five U.S.-based actuarial organizations. Beer was the vice chairperson for the Actuarial Standards Board in 2009 and succeeds Steve Kellison as chairperson

 

WASHINGTON -- Jan. 14, 2010 -- The American Academy of Actuaries has detailed concerns for congressional leaders to consider as they negotiate combining the House and Senate versions of health care reform legislation. The actuaries underscored the need to limit adverse selection, whether it is stemming from new issue and rating restrictions or inherent with the current design of a new federal long-term care insurance program better known as the CLASS Act.

 

WASHINGTON -- Jan. 22, 2010 -- The American Academy of Actuaries is concerned that legislative efforts to strip an antitrust exemption for medical professional liability insurers could preclude data collection and aggregation across companies, limiting competition and potentially increasing premiums. The actuaries urged policymakers to discontinue efforts to advance the repeal provision.

 

WASHINGTON -- Jan. 27, 2010 -- As President Obama readies his State of the Union address, the American Academy of Actuaries is urging policymakers to adopt four cornerstones to focus the nation’s domestic policy agenda to improve the financial security of all Americans and restore the nation’s fiscal health.

The Life Financial Reporting Committee has exposed for comment a practice note, Optional Retrospective Application of ASU 2010-26 Acquisition Costs. The committee is accepting comments until Sept. 14, 2011.

The Committee on Property and Liability Financial Reporting sent comments to the AICPA regarding its working draft of Audit and Accounting Guide Property and Liability Insurance Entities.

Solvency Committee comments to the International Association of Insurance Supervisor (IAIS) on its concept paper, Common Framework for the Supervision of Internationally Active Insurance Groups. These comments further address the methods of operating group-wide supervision of internationally active insurance groups.