The Life Illustrations Work Group submitted a comment letter to the NAIC on draft changes to Model #582.
(August 30, 2018)The Macroprudential Task Force submitted a comment letter to the NAIC on the exposed scope for liquidity stress testing.
(August 30, 2018)Ted Goldman, the Academy's Senior Pension Fellow, testified before the U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans at a hearing on "Lifetime Income Solutions as a Qualified Default Investment Alternative (QDIA) - Focus on Decumulaion and Rollovers." Read Goldman's testimony and presentation slides.
(August 16, 2018)The Academy's Life and Health Valuation Law Manual Task Force submitted a comment letter to the NAIC Life Actuarial (A) Task Force outlining recommended changes to the 2019 Life and Health Valuation Law Manual.
(August 15, 2018)The Committee on Property and Liability Financial Reporting sent a comment letter to the California Department of Insurance on proposed changes to reporting requirements for large deductibles in workers’ compensation plans.
(August 09, 2018)Academy Past President Mary D. Miller on Friday submitted a comment letter from the Academy to the NAIC regarding the Casualty Actuarial and Statistical Task Force’s exposure draft related to the three-year experience requirement to sign statutory statements. In those comments Miller shared the Academy’s view that the exposure draft describes an approach that will neither clarify nor improve the current requirement.
(August 09, 2018)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 03, 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 02, 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 02, 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 01, 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 01, 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 01, 2018)Chris Conrad, vice chairperson of the SVL Interest Rate Modernization Work Group, presented an update to the Life Actuarial (A) Task Force.
(August 01, 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 01, 2018)Members of the Reinsurance Work Group presented an update on reinsurance allocation to the Life Actuarial (A) Task Force.
(August 01, 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 30, 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 30, 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 29, 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 24, 2018)The Extreme Events and Property Lines Committee issued a monograph, Uses of Catastrophe Model Output, on the development of catastrophe models and the uses of catastrophe model output in actuarial tasks.