This Week: Aug. 21-25, 2017

Read the latest news from the Academy.

Recent Academy Activity, Aug. 21–25, 2017

Casualty Practice Council Comments on Proposed Changes to NFIP

The Casualty Practice Council sent a letter Wednesday to the U.S. Senate Committee on Banking, Housing, and Urban Affairs urging reauthorization and reform of the National Flood Insurance Program (NFIP), which is scheduled to expire at the end of September.

“From a public interest standpoint, there are two essential tasks facing lawmakers: first, renewing the program before a lapse causes disruptions; and second, improving the flood insurance framework and not just extending it in its current form,” said Rade Musulin, the Academy’s vice president, casualty, in a press release about the letter.

Webinar Looks at International Insurance Capital Standards

In Wednesday’s webinar, “International Insurance Regulatory Developments—An Update on the IAIS Insurance Capital Standard,” the NAIC’s Ned Tyrrell looked at recent developments in the International Association of Insurance Supervisors’ (IAIS) ongoing efforts to develop an international insurance capital standard (ICS).

Tyrrell, NAIC’s international technical policy advisor and a member of the IAIS Capital Solvency and Field Testing Working Group, noted that there has been incremental development, leading to this summer’s release of ICS version 1.0. The webinar, moderated by Solvency Committee Chairperson Elizabeth Brill, was part of the Academy Capitol Forum Webinar Series and the third to focus on the ICS. Slides and audio are available on the Academy’s webinar page.

Post-NAIC Life Webinar

The Academy hosted a post-NAIC life webinar Friday, in which panelists discussed key life issues raised during the NAIC Summer 2017 National Meeting in Philadelphia in early August. Presenters covered principle-based reserving, risk-based capital, reinsurance, and other life-related issues, and highlighted Academy presentations to NAIC’s Life Actuarial Task Force. Slides and audio will be available soon on the Academy’s webinar page.

P/C webinar: The post-NAIC property/casualty webinar will be held on Wednesday, Sept. 6, from noon to 1 p.m. EDT.

Next Week—Registration and Room Block Deadlines for PBR Boot Camp

Make sure to book your room by next Tuesday, Aug. 29, to secure the Academy’s special rate for attendees of next month’s Fall PBR Boot Camp. To be held Sept. 11–13 at the Westin Las Vegas, the Academy’s fourth PBR Boot Camp will provide a unique opportunity for actuaries who work with regulators—and others who submit their documents to regulators—to hear from experts and discuss PBR implementation challenges and opportunities. Space is still available and the early registration deadline is next Thursday, Aug. 31— register today.

Wednesday—CLRS Pre-Registration Deadline

The pre-registration deadline for the 2017 Casualty Loss Reserve Seminar & Workshops is next Wednesday, Aug. 30. The annual seminar, jointly sponsored by the Academy and the Casualty Actuarial Society, will be held Sept. 10–12 in Philadelphia. Register today.

Thursday—Early Registration Ends for P/C Loss Seminar

Early registration ends next Thursday, Aug. 31, for the 2017 Seminar on Effective P/C Loss Reserve Opinions. This two-day seminar, to be held Dec. 7–8 in Chicago, will prepare you for opinion season by enhancing your expertise on the latest regulations with reviews of actuarial qualification standards and interactive case studies. Register today for the lowest rates.

Board Election Concludes Today

Voting is wrapping up Friday in the election of four regular directors to serve on the Academy Board of Directors. The candidates are Bruce Cadenhead, Tim Geddes, Stu Mathewson, and Tricia Matson. Their terms will begin at the conclusion of the Academy’s Annual Meeting on Nov. 14. For more information about the Nominating Committee guidelines and other details, please visit the Board Election Center.

Upcoming Events

In the News

  • An Insurance Business story and a subscriber-only ClimateWire story cited the Casualty Practice Council’s letter sent this week to the U.S. Senate Committee on Banking, Housing, and Urban Affairs urging reauthorization and reform of the National Flood Insurance Program.

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2017 Annual Meeting and Public Policy Forum