Public Policy News

Chris Trost, chairperson of the C-2 Work Group, gave an update on the group's projects to the NAIC Life Risk-Based Capital (E) Working Group.  (August 4, 2018)
Laura Hanson, chairperson of the Life and Health Valuation Law Manual Task Force, gave an update on potential changes to the 2019 Manual.  (August 3, 2018)
Donna Claire, chairperson of the PBR Governance Work Group, provided an update on PBR adoption and Academy involvement to the Life Actuarial (A) Task Force.  (August 3, 2018)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented an update to the Life Actuarial (A) Task Force on the Delphi Study, Accelerated Underwriting, and VM-51 data elements.  (August 2, 2018)
Chris Conrad, vice chairperson of the SVL Interest Rate Modernization Work Group, presented an update to the Life Actuarial (A) Task Force.  (August 2, 2018)
John Miller and Matt Coleman, co-chairpersons of the Annuity Reserves Work Group, presented an update to the Life Actuarial (A) Task Force on their annuity exclusion test efforts.  (August 2, 2018)
Paul Navratil, chairperson of the Longevity Risk Task Force, presented an update on the Longevity Risk Survey to the Life Actuarial (A) Task Force.  (August 2, 2018)
Members of the Reinsurance Work Group presented an update on reinsurance allocation to the Life Actuarial (A) Task Force.  (August 2, 2018)
Dorothy Andrews, vice chairperson of the Academy’s Big Data Task Force, chaired an Aug. 2 panel at the Joint Statistical Meetings in Vancouver, British Columbia, on “Big Data: Ethical and Professional Challenges from the Perspective of Actuaries, Data Scientists and Statisticians.” The panel, organized by the Academy, highlighted the task force’s June monograph, Big Data and the Role of the Actuary. (August 2, 2018)
The Multiemployer Plans Committee released notes from its meeting on Feb. 23, 2018 with officials of the Treasury and Labor departments, and Pension Benefit Guaranty Corporation to discuss applications by multiemployer pension plans in critical and declining status to suspend benefits or partition liabilities. This meeting supplements the first meeting between these parties on this topic, which was held on Feb. 22, 2017. (July 31, 2018)
The Pension Committee, the Public Plans Committee, and the Multiemployer Committee submitted a comment letter to the ASB on exposure drafts of proposed revisions to ASOPs 4, 27, and 35. (July 31, 2018)
The Joint P&C/Health Bond Factors Analysis Work Group Report to the NAIC Investment Risk-Based Capital (E) Working Group, Health Risk-Based Capital (E) Working Group, and Property and Casualty Risk- Based Capital (E) Working Group on indicated bond risk factors for the Property Casualty Risk Based Capital Formula (P&C RBC Formula) and the Health Risk Based Capital Formula (Health RBC Formula). (July 30, 2018)
Past Academy President Mary D. Miller submitted a letter with comments from the Academy to the National Association of Insurance Commissioners raising several concerns over a revised attestation proposal released for exposure on June 25 by the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF). (July 25, 2018)
The Extreme Events and Property Lines Committee issued a monograph, Uses of Catastrophe Model Outputon the development of catastrophe models and the uses of catastrophe model output in actuarial tasks.
(July 25, 2018)
Past Academy President Mary D. Miller submitted a letter with extensive comments from the Academy to the NAIC responding to an exposure draft that the Casualty Actuarial and Statistical Task Force (CASTF) issued on a CAS/SOA proposal regarding CASTF’s “Continued Competence” charge. This is a significant proposal that would affect many actuaries. Comments are due by Monday, July 23. Those interested may wish to consider filing their own comments.
(July 20, 2018)
The Extreme Events & Property Lines Committee submitted a paper to the NAIC highlighting regulatory questions that arise if the flood insurance market transitions from relying upon the National Flood Insurance Program to a greater role for private-market coverage.
(July 20, 2018)
The C1 Work Group submitted a comment letter to the Investment Risk-Based Capital (E) Working Group on alternative C1 bond factors for different levels of statutory reserve offset.  (July 17, 2018)
The Macroprudential Task Force submitted a comment letter to the NAIC Liquidity Assessment (EX) Subgroup on the considerations for a liquidity stress test.  (July 16, 2018)
The AG43/C3 Phase II Work Group submitted a comment letter to the Variable Annuities Issues Working Group on proposed policyholder behavior assumptions.  (July 16, 2018)
The AG43/C3 Phase II Work Group submitted a comment letter on the May 31 exposure of the Variable Annuities Issues Working Group Framework.  (July 13, 2018)