Public Policy News

The Academy provided these comments in response to the NAIC’s exposure draft of the proposed Revised Qualified Actuary Definition for the Property/ Casualty (P/C) Actuarial Opinion Instructions. (February 12, 2018)
The Individual and Small Group Markets Committee sent comments to the Office of Regulations and Interpretations within the Employee Benefits Security Administration in response to the Department of Labor's proposed rule on the definition of employer—small business health plans. (February 9, 2018)
Senior Property and Casualty Fellow Kevin Ryan testified before the Maryland House Economic Matters Committee, commenting on legislation to prohibit the use of occupation, education, gender, and marital status as factors in determining private passenger automobile insurance rates. (February 8, 2018)
The Credit for Reinsurance Subgroup of the Reinsurance Committee released a new practice noteCredit for Life Reinsurance in U.S. Statutory Financial Statements. (February 2, 2018)
The Joint P&C/Health Bond Factors Analysis Work Group submitted a discussion draft of a report on P/C and Health bond factors for consideration by the NAIC’s Joint Health RBC and P/C RBC Drafting Group. 
(January 31, 2018)
The Annuity Illustration Work Group submitted a comment letter to the NAIC's Annuity Disclosure (A) Working Group regarding proposed changes to the Annuity Disclosure Model Regulation (#245).
(January 31, 2018)
The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the revised Insurance Core Principle (ICP) Enterprise Risk Management (ERM) for Solvency Purposes and ComFrame material integrated with ICP 16 consultation package dated November 8, 2017. (January 30, 2018)
The Life Illustrations Work Group published a practice note to assist actuaries in performing professional services in compliance with ASOP No.24 and provide information to actuaries on current or emerging practices.  (January 26, 2018)
The Individual and Small Group Markets Committee sent comments to Office of the Assistant Secretary for Planning and Evaluation in response to the Department of Health and Human Services’ request for information on promoting healthcare choice and competition. (January 25, 2018)
The Financial Regulatory Task Force submitted comments to the U.S. Senate on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. (January 17, 2018)
The Academy released a summary of select significant regulatory and legislative developments in 2017 at the state, federal, and international levels of interest to the U.S. actuarial profession.
(January 12, 2018)
The Big Data Task Force submitted comments to the NAIC's Big Data (EX) Working Group on their recent exposures.  (January 12, 2018)
The Role of the Actuary Subgroup sent an Amendment Proposal Form to the NAIC Life Actuarial (A) Task Force on changes to the definition of Actuarial Opinion outlined in VM-01. (January 11, 2018)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the CEJ Expanded Outline. (January 3, 2018)
The Retirement System Assessment and Policy Committee published an issue brief providing an actuarial perspective on the role of U.S. tax policy in retirement security. (December 28, 2017)
The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note. (December 19, 2017)
The Financial Reporting Committee (FRC) submitted comments to the Financial Accounting Standards Board (FASB) on its proposed updates to market risk benefits in the accounting for long-duration contracts. (December 18, 2017)
The Financial Reporting Committee (FRC) submitted comments to the Financial Accounting Standards Board (FASB) on its proposed updates to the accounting for long-duration contracts. (December 15, 2017)
The winter StateScan Quarterly highlights state legislation in the past quarter related to auto insurance, health insurance marketplace changes, pension plans, principle-based reserving, and more. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members. (December 14, 2017)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the NAIC group's "10 Things You Should Know Before Purchasing Life Insurance" exposure draft.  (December 14, 2017)