This Week: July 31-Aug. 4, 2017

Read the latest news from the Academy.

Recent Academy Activity, July 31–Aug. 4, 2017

Academy Presents at NAIC Summer Meeting

The Academy’s presentations at the NAIC Summer 2017 National Meeting in Philadelphia began at Friday’s Life Actuarial Task Force (LATF) meeting:

Health and casualty meetings will follow in the next few days, and the Academy will host a regulator-only professionalism breakfast on Sunday morning. Look for more coverage next week, including the Academy’s usual post-NAIC alert recapping the meeting and related Academy activity.

New Essential Elements Paper on Technology and Auto Insurance

The Academy released a new Essential Elements, “Auto Insurance in the 21st Century,” which explores insurance issues surrounding autonomous vehicles, ride-sharing services, and distracted driving. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences.

Election of Regular Directors Begins Today

The Academy’s annual online election of regular directors for the Academy Board begins today, Aug. 4, and runs through Friday, Aug. 25. Academy members will receive an email from Intelliscan, our election vendor, announcing that the online election is underway. Preliminary notifications with voting information were sent from academy2017@intelliscaninc.net; please add this address to your safe senders list and/or check your junk-mail folder to make sure you have received it. We encourage members to take part in electing the next leaders of the Academy who will help us fulfill our mission to serve the public and the U.S. actuarial profession. For more information, visit the Academy Board Election Center.

July Actuarial Update Released

The July Actuarial Update covers the Academy’s recent issue briefs, comment letters, and other work informing the nation’s ongoing health care debate. Also covered: Academy attendance at the International Association of Black Actuaries conference in late July; the “Professionalism Counts” column on the “ABCDs of Precept 10”; and Capitol Hill visits by members of the Pension Committee to discuss multiemployer plan issues.

Today—Extra-Early Registration Deadline for PBR Boot Camp

Extra-early registration ends today, Aug. 4, for the Academy’s Fall PBR Boot Camp, to be held Sept. 11–13 in Las Vegas. Register today and join us for this unique event that will offer actuaries who work with regulators—and others who will be submitting their documents to the regulators—an opportunity to understand and discuss PBR implementation challenges and opportunities. An agenda is available.

CLRS Early Registration Ends Aug. 18

Discounted early registration rates are available through Aug. 18 for the 2017 Casualty Loss Reserve Seminar (CLRS) and Workshops. This seminar, sponsored jointly by the Academy and the Casualty Actuarial Society, will be held Sept. 10–12 in Philadelphia. Register today.

Upcoming Events

Public Policy Activities

  • The Social Security Committee released an issue brief on the 2017 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress act soon to improve the long-term financial outlook of the program.

  • The Intersector Group released the notes of its May meetings with the Pension Benefit Guaranty Corporation (PBGC) and the IRS and Treasury Department.

Alerts

  • The U.S. Court of Appeals for the District of Columbia Circuit ruled that states have the legal right to defend the Affordable Care Act’s (ACA) reimbursements to insurers providing cost-sharing reductions (CSRs). The decision allows 17 states and the District of Columbia to intervene in House v. Price, challenging a lower court’s ruling that determined the ACA’s reimbursements to insurers for CSRs were not properly appropriated by Congress.

  • The PBGC released its fiscal year 2016 Projections Report, which shows projections for the future operations and financial status of the single-employer and multiemployer programs.

  • Subscribe to Member Alerts: Subscribers to the Academy’s alerts are notified by email when a new alert is posted in their area(s) of interest. The alerts are available in five areas of focus: casualty, health, life, pension, and cross-practice issues. Academy members may subscribe to any or all of them free of charge as a member service after signing in to the member section of the website.

In the News

  • Joshua Shapiro, chairperson of the Multiemployer Plans Subcommittee, was quoted in a Bloomberg BNA story on the PBGC’s multiemployer insurance program.

  • MLive.com (Michigan) cited the Health Practice Council’s July 25 letter to Senate leadership on the potential adverse consequences of eliminating the Affordable Care Act’s individual mandate, and linked to the issue brief, Drivers of 2018 Health Insurance Premium Changes.

  • The Tucson Sentinel cited an Academy issue brief in a fact-checking piece regarding considerations around selling health insurance across state lines.

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2017 Annual Meeting and Public Policy Forum