The Committee on Property and Liability Financial Reporting (COPLFR) sent a comment letter to the NAIC noting certain inconsistencies in the instructions for certification of loss reserves for international insurers.
(July 07, 2016)The Life Reserves Work Group (LRWG) submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the exposed NAIC staff Amendment Proposal Form (APF) on VM-20 product aggregation.
(July 05, 2016)The Academy released its second issue of StateScan Quarterly, which now offers highlights of both state regulatory and legislative activities. This issue’s topics include principle-based reserving, Medicaid expansion, and insurance for ride-sharing operations that can be found through StateScan, the legislative/regulatory portal that is provided to Academy members.
(June 30, 2016)The Life Practice Council submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the qualified actuaries’ responsibilities to the interests of the company versus the commissioner.
(June 30, 2016)The Social Security Committee released an issue brief that explores possible design changes to Social Security addressing issues faced by a growing part of the U.S. population who may attain advanced ages and lack adequate resources.
(June 30, 2016)The Social Security Committee released an issue brief on the 2016 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program.
(June 27, 2016)The ERM/ORSA Committee's Risk Exposures Subgroup released a practice note on quantifying risk exposures for Own Risk and Solvency Assessment (ORSA) reports.
(June 27, 2016)The Medicare Subcommittee published an issue brief, “Medicare’s Financial Condition: Beyond Actuarial Balance,” on significant concerns about Medicare’s long-term financial health.
(June 24, 2016)The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the Consolidated ACLI and Academy Amendment Proposal Form.
(June 22, 2016)The Pension Committee submitted a comment letter to the Pension Benefit Guarantee Corporation (PBGC) expressing appreciation for proposed regulations providing a reduction or partial waiver of the penalty due upon the late payment of premiums to the single employer and multiemployer insurance programs.
(June 22, 2016)The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue and preneed mortality to the Life Actuarial Task Force.
(June 16, 2016)The Pension Committee submitted a comment letter to the IRS and Treasury requesting that the 2017 Applicable Mortality Tables be issued as soon as possible.
(June 10, 2016)The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on Section 4 of the Valuation Manual-G.
(June 10, 2016)The Intersector Group released the notes of its March 2016 meeting with the Pension Benefit Guaranty Corporation.
(June 07, 2016)The Intersector Group released the notes of its March 2016 meeting with the Treasury Department and Internal Revenue Service
(June 07, 2016)The Solvency Committee submitted comments to the NAIC's Operational Risk (E) Subgroup on its "Operational Risk 2016 Factors" exposure document.
(June 06, 2016)The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on combined revisions regarding VM-G of the Valuation Manual.
(June 03, 2016)The LTC Reform Subcommittee published an issue brief providing an overview of premium rate increases on private long-term care insurance policyholders. Read the news release.
(June 02, 2016)The Casualty Practice Council and the P/C Extreme Events Committee sent a letter to members of the U.S. Senate Banking, Housing and Urban Affairs Committee commenting on HR 2901, The Flood Insurance Market Parity and Modernization Act, concerning expansion of the role of private insurers in the flood insurance marketplace.
(May 25, 2016)The Solvency Committee submitted comments to the NAIC's Investment Risk-Based Capital (E) Working Group on its "Way Forward" exposure document.
(May 19, 2016)