Public Policy News

Academy Senior Life Fellow Nancy Bennett and Senior Casualty Fellow Jim MacGinnitie provided a presentation to the Financial Stability Oversight Council (FSOC) on regulatory capital requirements for U.S. insurers. (December 11, 2015)
The Intersector Group released the notes of its September 2015 meeting with the Treasury Department and Internal Revenue Service. 
(December 9, 2015)
The Intersector Group released the notes of its September 2015 meeting with the Pension Benefit Guaranty Corporation.
(December 9, 2015)
The Life Illustrations Work Group submitted comments to LATF’s IUL Illustration (A) Subgroup on the draft revision of Actuarial Guideline (AG) 49. (December 1, 2015)
The Academy continued its dialog with insurance regulators on a wide variety of issues, including long-term care insurance, automobile insurance, risk-based capital, and principle-based reserving at the National Association of Insurance Commissioners 2015 Fall National Meeting held November 19-22 at National Harbor, outside of Washington, DC. Read the Academy Alert here.  (November 25, 2015)
The Price Optimization Task Force submitted a comment letter to the NAIC’s Property/Casualty Committee on the Price Optimization White Paper after its adoption by the Casualty Actuarial and Statistical Task Force (CASTF). (November 21, 2015)
The ERM/ORSA Committee submitted comments to the International Actuarial Association (IAA) on its white paper "Actuarial Aspects of ERM for Insurance Companies." (November 20, 2015)
Academy Senior Property/Casualty Fellow Jim MacGinnitie testified at the National Association of Insurance Commissioners’ (NAIC) public hearing on "The Pricing of Automobile Insurance." (November 19, 2015)
The Individual Disability Tables Work Group (IDTWG) presented updated incidence modifiers report for use in active life reserve calculations for employer-sponsored disability income policies along with a corresponding memo to the chair of the Health Actuarial Task Force.
(November 18, 2015)
The Long-Term Care Terminations Work Group (LTCTWG) sent their final report to the NAIC's Long-Term Care Actuarial Working Group on terminations for long-term care (LTC) insurance. (November 18, 2015)
The Cancer Claims Cost Tables Work Group presented to the NAIC's Health Actuarial Task Force the produced graduated valuation tables, and sample reserve calculations.
(November 18, 2015)
The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue, simplified issue and preneed to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 17, 2015)
The Annuity Reserves Work Group (ARWG) provided a non-variable annuity PBR update to the Life Actuarial Task Force’s VM-22 Subgroup at the NAIC Fall 2015 National Meeting. (November 16, 2015)
The Nonforfeiture Modernization Working Group (NMWG) made a presentation on the gross premium nonforfeiture method to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 16, 2015)
The Deposit Fund Subgroup submitted comments to the Life Actuarial Task Force on rules for separate accounts that fund guaranteed minimum benefits under group contracts related to the synthetic GIC model regulation. (November 16, 2015)
The Academy held a webinar exploring various applications of yield curve rates in determining the elements of pension accounting cost. Academy members can access the webinar here.
(November 11, 2015)
The P/C Risk-Based Capital Committee submitted a comment letter to the NAIC’s Capital Adequacy Task Force on the ongoing examination of the bond risk factors used in the P/C risk-based capital (RBC) formula. (November 10, 2015)
The Medicare Supplemental Work Group sent answers concerning questions regarding the work group’s recommendations on modifications to the Medicare supplement refund formula.
(November 10, 2015)
The Health Solvency Subcommittee provided an update on the evaluation of asset risk in the health risk-based capital (HRBC) formula.
(November 9, 2015)
Pension Practice Council submitted comments to the Treasury Department and Internal Revenue Service regarding final regulations concerning Qualified Longevity Annuity Contracts (QLACs) and their advantages. (November 6, 2015)