This Week, Feb. 12-16, 2018

Read the latest news from the Academy.

Recent Academy Activity, Feb. 12–16, 2018

Academy Office Closed Monday for Presidents Day Holiday

The Academy’s office will be closed on Monday, Feb. 19, in observance of the Presidents Day federal holiday.

Updated Board and Committee Meetings Policy

Last month the Academy Board of Directors revised the Academy’s meeting policy. This week, the Academy provided additional information for members. Academy meetings have not been “closed.” Rather, it gives officers and committee chairs the tools they need to protect the integrity of the Academy process.

Over the past 18 months, certain observers have used the Board and Committee Meetings Policy to engage in conduct to chill discussions and debates at the ASB and other Academy committees. In one case, an observer has insisted on attending committee and Board meetings despite threatening legal action against the Academy. Read more about the policy and the reasons for it here.

Recently Released

As reported in the February issue of HealthCheck, the Individual and Small Group Markets Committee sent comments to the U.S. Department of Labor on association health plans, the Retiree Benefits Subcommittee held a teleconference with the U.S. Government Accountability Office on a review of postal retiree health benefits, and a new short-term government funding measure includes several health-related provisions.

Order Today—Academy Law Manuals Available

The latest editions of the Life and Health Valuation Law Manual and the Property/Casualty Loss Reserve Law Manual are available.

  • The Life and Health Valuation Law Manual is designed to help appointed actuaries know the requirements of the NAIC model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation. Order today.

  • The Property/Casualty Loss Reserve Law Manual is designed to help appointed actuaries know the NAIC Annual Statement requirements for statements of actuarial opinion. Order today.

Both manuals are available in a variety of formats, allowing you to select the version that best suits your needs.

Public Policy Activities

  • The Committee on Property and Liability Financial Reporting sent a letter informing the NAIC’s Casualty Actuarial and Statistical Task Force of the results of research into Schedule P reporting practices. The Academy’s survey looked at currency conversion and changes in intercompany quotashare pooling due to acquisition or divestiture.

  • The Tax Work Group sent a comment letter to the NAIC’s Statutory Accounting Principles (E) Working Group regarding federal income tax reform.

  • The C1 Work Group submitted a comment letter to the NAIC’s Investment Risk-Based Capital (E) Working Group on proposed risk-based capital C1 factors for corporate bonds.

  • The Solvency Committee submitted comments to the International Association of Insurance Supervisors on the interim consultation paper on the activities-based approach to systemic risk dated Dec. 8, 2017.

  • 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.

Upcoming Events

In the News

  • HealthPayer Intelligence published a story on a new U.S. Government Accountability Office report on Medicare’s cost-sharing design, citing the Academy’s issue brief, Revising Medicare’s Fee-For-Service Benefit Structure.

  • In a subscriber-only Bloomberg BNA article, Senior Health Fellow Cori Uccello discussed a provision in President Trump’s proposed budget to fund Affordable Care Act cost-sharing reductions.

  • An Actuaries Digital (Australia) interview with Australian representatives to the International Actuarial Association (IAA) highlighted the Academy’s presentation on continuing professional development at the IAA’s October 2017 meeting.


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