Public Policy News

The Intersector Group released notes of its April 2015 meeting with the Pension Benefit Guaranty Corporation.   (June 2, 2015)
The Health Practice Council (HPC) published an issue brief that examines the approaches included in various proposals that policymakers are considering before the Supreme Court decision in King v. Burwell. The court could decide that federal premium subsidies are not available for individual market plans in states participating in the federally facilitated marketplace. (May 28, 2015)
Ellen Kleinstuber, vice-chairperson of the Academy’s Pension Committee, testified at an ERISA Advisory Council hearing on model notices and disclosures to help defined benefit plan participants understand their options when offered lump-sum distributions in a pension risk transfer transaction. (May 28, 2015)
The RBC Catastrophe Risk Subcommittee submitted a comment letter to the NAIC’s Catastrophe Risk (E) Subgroup on revised Form PR026 for the 2015 reporting year. (May 22, 2015)
The Health Solvency Work Group submitted a comment letter to the NAIC's Investment Risk-Based Capital Working Group on the evaluation of asset risk factors for the health risk-based capital formula. (May 20, 2015)
The Nonforfeiture Modernization Work Group submitted a comment letter to the NAIC Life Actuarial (A) Task Force on exposed edits to the standard nonforfeiture law for annuities regarding requirements for contingent deferred annuities (CDA). (May 13, 2015)
The Risk Management and Financial Reporting Council (RMFRC) sent comments to the International Association of Insurance Supervisors (IAIS) on Insurance Core Principle (ICP) 8: Risk Management and Internal Controls. (May 12, 2015)
The Risk Sharing Work Group submitted comments to CCIIO on the methodology proposed to evaluate the sufficiency of EDGE server data. (May 8, 2015)
William Hines, vice president of the Risk Management and Financial Reporting Council, gave a presentation to the International Association of Insurance Supervisors (IAIS) on modeling for insurance capital standards (ICS). (May 6, 2015)
The ERM/ORSA Committee sent comments to the International Association of Insurance Supervisors (IAIS) on its draft issues paper Conduct of Business Risk and its Management. (May 1, 2015)
The Solvency Committee submitted written testimony to the U.S. Senate Banking Subcommittee on Securities, Insurance, and Investment for its hearing on "Examining Insurance Capital Rules and FSOC Process." (April 30, 2015)
The Financial Reporting Committee (FRC) submitted comments to the Financial Accounting Standards Board (FASB) on its proposed accounting standards update-Derivatives and Hedging (Topic 815): Disclosures about Hybrid Financial Instruments with Bifurcated Embedded Derivatives. (April 30, 2015)
The Solvency Committee submitted written testimony to the U.S. House Financial Services Subcommittee on Housing and Insurance for its hearing on “The Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers.” (April 29, 2015)
Senior Health Fellow Cori Uccello submitted written testimony to the U.S. House Ways and Means Subcommittee on Health for its hearing on alternatives to the individual and employer mandates under the Affordable Care Act (ACA). (April 27, 2015)
The Risk Management and Financial Reporting Council and Financial Reporting Committee sent comments to the Federal Insurance Office (FIO) on U.S. GAAP loss recognition testing and Insurance Core Principle (ICP) 14 current estimates. (April 27, 2015)
The Deposit Fund Subgroup sent a comment letter to the NAIC Life Actuarial (A) Task Force on exposed edits to the model regulation for synthetic guaranteed investment conracts (GIC). (April 22, 2015)
The Academy published its new PBA Perspectives, a quarterly update on regulatory, legislative, and Academy activities surrounding the implementation of the Principle-Based Approach (PBA) for life insurance. (April 16, 2015)
The Price Optimization Task Force submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF) on its Price Optimization White Paper.
(April 15, 2015)
The Life Illustrations Work Group sent a comment letter to the NAIC’s Life Actuarial (A) Task Force on the proposed actuarial guideline for indexed universal life illustrations. (April 14, 2015)
The Casualty Practice Council submitted a letter to the NAIC’s Casualty Actuarial and Statistical Task Force on the CPC’s process for approving member actuaries to sign P/C NAIC opinions. (April 9, 2015)