This Week, Aug. 6-10, 2012


Recent Academy Activity, Aug. 6 – 10, 2012

Academy Election News

  • Those Academy members who have not yet voted in the 2012 election for three open Regular Director positions on the Board of Directors received an email reminder earlier this week containing a link to cast their individual ballot. If you didn’t get your election email, check your spam filter for an email from “American Academy of Actuaries Election Coordinator” sent from the email address Five distinguished members with service over the years on scores of Academy committees, work groups, and task forces are standing for election. Recognize their service to the profession and the public by casting your ballot. Voting ends at 5 p.m. EDT on Friday, Aug. 17. If you have questions about your ballot, please email the Academy at

Website: New Postings

  • The North American Actuarial Council Collaborative Research Group issued an RFP to examine the regulatory risk faced by insurance companies in North America and by their actuaries. Proposals must be received no later than Sept. 30, 2012.
  • The C1 Work Group sent a draft project plan to the National Association of Insurance Commissioners (NAIC) C1 Factor Review (E) Subgroup that covers the development of the bond Risk-based Capital (RBC) factors and changes to the RBC determination for structured securities.
  • Mary Bahna-Nolan, chairperson of the Life Experience Subcommittee, gave a presentation to the NAIC Life Actuarial Task Force discussing conclusions of the subcommittee on the 2012 Individual Annuity Mortality Basic Tables following a recent exposure period.
  • The Nonforfeiture Modernization Work Group updated the NAIC Life Actuarial Task Force on a general revision of the life and annuity standard nonforfeiture laws.
  • Cande Olsen, vice president of the Life Practice Council, gave a presentation on PBR to the NAIC Life Actuarial Task Force, a preview of her presentation to the “A” Committee on Aug. 12.
  • Bob Yee, chairperson of the Long-Term Care Valuation Work Group, provided an update to the NAIC Long-Term Care Actuarial Working Group on the valuation morbidity tables for long-term care insurance.
  • Rick Leavitt, member of the Group Long-Term Disability Work Group, offered a final recommendation to the NAIC Health Actuarial Task Force regarding a valuation proposal for a new group long-term disability table.

Upcoming Events

  • Aug. 30, Post-NAIC Update/PBA Webinar: Review the NAIC’s life and annuity activities—including those of the Life Actuarial Task Force—and receive an update on the Valuation Manual that may be adopted at the NAIC’s Summer 2012 National Meeting in Atlanta.
  • Sept. 11–12, Life PBR—Test-Drive the New VM-20: Work hands on with the new reserving requirements in VM-20 and apply them to real-life examples. Academy and SOA members: save $100 before Aug. 20. Regulators: get the special rate of $400 per registrant.
  • Oct. 15, Academy Annual Meeting and Awards Luncheon: Hear from keynote speaker Stu Rothenberg and applaud the winners of the Academy’s annual awards. If you are attending the SOA meeting, the Academy luncheon is included; if not, you may purchase a ticket for $70.
  • Nov. 7–8, P/C Effective Loss Reserve Opinion Seminar: Registration is now open! Stay up to date on regulations and standards applicable in drafting loss reserve opinions. New workshops and breakout sessions have been added to this year’s format.
  • Nov. 12–15, Life and Health Qualifications Seminar: Meet the criteria needed to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement. Seats are limited!

Academy in the News

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