Public Policy News

The Enterprise Risk Management Committee exposed its practice note, Insurance Enterprise Risk Management Practices, for public comment. The practice note discusses ERM practices within the insurance industry and concepts such as risk culture, risk organization, and risk governance. (March 7, 2013)
The International Accounting Standards Task Force sent papers to FASB on issues related to the Insurance Contracts project discussed at a November 2012 meeting with FASB staff. (March 5, 2013)
The Contingent Annuity Work Group commented on the NAIC Contingent Deferred Annuity (A) Working Group's February draft recommendation to the Life Insurance and Annuities (A) Committee. (February 20, 2013)
The Academy sent a letter to President Obama and top administration officials urging them to require Academy membership as a qualification for any candidate to the chief actuary position at the Centers for Medicare & Medicaid Services. Read the news release. (February 19, 2013)
ACA Regulation Review Videos: As of Nov. 8, 2013, the RegReview website is no longer available.
(February 19, 2013)
Presenters will provide health actuaries with information on the relationship between Medicare provider payment rates and those for private insurance. This information is important for understanding how any changes in Medicare provider payment rates could affect private plans. Projecting the effects of moving Medicare to a premium support program also requires the consideration of this key issue. Register today! (February 19, 2013)
Read about recent health care reform activities in the latest edition of HealthCheck. (February 13, 2013)
The C1 Work Group provided comments on the NAIC Securities Valuation Office Staff Calibration Project. (February 13, 2013)
The Casualty, Life, Health, and Professionalism councils submitted comments to the NAIC's Joint Qualified Actuary (A/B/C) Subgroup on the subgroup's two new charges related to defining a "qualified actuary" and recommending a process to address "unprofessional" actuarial work. (February 11, 2013)
The Health Solvency Work Group submitted a letter to the NAIC's Health Risk-Based Capital Working Group giving the work group's analysis of possible risks caused by the Affordable Care Act as it relates to health risk-based capital.  (February 8, 2013)
The Pension Committee sent comments to the Internal Revenue Service regarding its recent guidance related to notice requirements under section 101(j) of ERISA for funding-related benefit limitations in single-employer defined benefit pension plans. (February 5, 2013)
Join the Academy and the Casualty Actuarial Society on Feb. 14 for this timely webinar on key considerations related to the risk of material adverse deviation (RMAD) disclosure required of appointed actuaries providing statements of actuarial opinion on property/casualty loss and loss adjustment expense reserves in the United States. Attendees will learn why RMAD disclosure exists and how to establish a materiality standard, evaluate whether there is an RMAD, and document their findings. Register today! (February 1, 2013)
The Academy/SOA's Cancer Claims Cost Tables Work Group submitted a letter to the NAIC's Health Actuarial Task Force that updated the progress of the valuation table and the work it expects to do over the next six months. (February 1, 2013)
The ORSA Subgroup submitted changes to the NAIC on its December 2012 draft, Guidance Manual for the Own Risk and Solvency Assessment, and included information on actuaries who are involved in enterprise risk management. (January 31, 2013)
The Life & Health Valuation Law Manual is now available. The manual is designed to help appointed actuaries comply with the requirements of the NAIC model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation. (January 25, 2013)
The Academy's Large Group Medical Business Practice Note Work Group has released for a 60-day comment period an updated practice note relating to Large Group Medical Business. (January 24, 2013)
The Annuity Illustration Subgroup submitted comments to the NAIC Annuity Disclosures (A) Working Group on the November 28, 2012 draft of the Buyers Guide for Deferred Annuities. (January 18, 2013)
The 2012 Academy Legislative/Regulatory Review details significant legislative and regulatory activities affecting the actuarial profession, as well as the Academy’s work on these issues. The review notes that while the presidential election dominated the news, the Academy’s nonpartisan work also covered several high profile issues including health care reform implementation, lifetime income, and principle-based reserves for life insurance. Members can log in to read the full alert.
(January 15, 2013)
The 2012 Property/Casualty Loss Reserve Law Manual is now available. The manual is designed to help appointed actuaries comply with the NAIC requirements for statements of actuarial opinion. Learn what's new and order your copy today! (January 15, 2013)
The Academy's Health Practice Council sent a letter to President Obama and congressional leaders urging them to appoint an actuary to the new Commission on Long-Term Care that was enacted as part of the American Taxpayer Relief Act of 2012. Read the news release. (January 14, 2013)