This Week: June 5 - 9, 2017


Read the latest news from the Academy.

Recent Academy Activity, June 5–9, 2017

Webinar Covers Issues Surrounding Global Pandemic Risk

The Academy hosted a webinar Tuesday, “A Global Look at Pandemic Risk,” in which presenters gave an overview of the escalating factors for epidemic and pandemic risks and associated costs with respect to infrastructure, technology, and lifestyle modifications. Eddy Rubin, chief science officer for Metabiota, gave an overview of the history of epidemics; Petra Wildemann, Metabiota’s head of business development and risk products for Europe and the United Kingdom, presented on large-scale risks in reinsurance; and Paul Nunn, head of catastrophe risk modeling for SCOR Global P&C, covered catastrophe risk modeling. The webinar was moderated by Susan Mateja, chairperson of the Academy’s Health Practice International Committee. Slides and audio are available to members free of charge.

Academy Seeks Proposals for Life and Health Valuation Law Manual

The Academy is seeking proposals to provide research and editorial services necessary to update and assist in publication of the Life and Health Valuation Law Manual, scheduled to be released in early 2018. Academy members are invited to submit proposals in accordance with our request for proposals. Responses must submitted by 5 p.m. EDT on Friday, June 30. Questions and requests for additional information may be sent to Heather Jerbi, assistant director of public policy, at 202-223-8196, or jerbi@actuary.org.

Capitol Hill Briefing on National Flood Insurance Program Set for June 26

The Academy’s Casualty Practice Council (CPC) will hold a Capitol Hill briefing in Washington, D.C., on Monday, June 26, to examine key issues surrounding the National Flood Insurance Program (NFIP), which will expire at the end of September unless it’s reauthorized by Congress. The briefing will feature authors of the CPC’s flood insurance monograph, released in April, who will deliver an objective, non-partisan overview of the NFIP program and future reforms. To register for the event, please RSVP by June 22. For more information, please contact Marc Rosenberg, senior casualty policy analyst, at 202-223-8196, or rosenberg@actuary.org.

Professionalism Outreach

Applying actuarial professionalism in daily practice was the topic of Academy President Bob Beuerlein’s presentation at the Southwest Actuarial Forum’s meeting Friday in Austin, Texas. Beuerlein reviewed the professionalism mission, infrastructure, and resources established through the Academy to support qualified actuaries in meeting high professional standards, providing a high-level examination of the interrelationship between the Code of Professional Conduct, the U.S. Qualification Standards, and actuarial standards of practice.

Upcoming Events

  • June 20 Deadline—Extra-Early Discount for Annual Meeting and Public Policy Forum: Extra-early registration ends June 20 for the Academy’s 2017 Annual Meeting and Public Policy Forum, to be held Nov. 14–15 in Washington, D.C. The meeting and forum will offer insights into what the many changes occurring in Washington mean for your work as an actuary, and provide an in-depth look at today’s top public policy and professionalism issues. Members can earn continuing education (CE) credit, and the Academy believes in good faith that Joint Board for the Enrollment of Actuaries continuing professional education (CPE) credit also will be available. Get the strategic information you need and register today for the lowest rates.

  • June 26 Webinar—Exposed Practice Note on Credit for Life Reinsurance: Join the Academy on Monday, June 26, for a webinar providing an in-depth review of the draft Credit for Life Reinsurance in U.S. Statutory Financial Statements practice note recently exposed by the Reinsurance Committee’s Credit for Reinsurance Subgroup. Attendees will learn about current and emerging practices used to determine the credit for reinsurance that may be taken on statutory financial statements and will gain background for commenting on the draft. The webinar will take place from noon to 1 p.m. EDT. Register today.

  • June 28 Professionalism Webinar—Actuary-to-Actuary Communications: The Academy will host a professionalism webinar, “Actuary-to-Actuary Communications,” on Wednesday, June 28, from noon to 1:30 p.m. EDT. The presenters—Academy President Bob Beuerlein; Council on Professionalism member Cecil Bykerk; and Janet Fagan, past chairperson of the Actuarial Board of Counseling and Discipline—will discuss relevant precepts of the Code of Professional Conduct, weigh case studies, and give attendees insights on how the Code and other professionalism tools can help guide successful actuary-to-actuary communication. The Academy believes in good faith that attendees will have the opportunity to earn up to 1.8 CE credits as well as 1.8 CPE credits for core ethics under JBEA rules. Register today.

  • LHQ Seminar Provides Necessary Qualifications: Are you an actuary who wishes to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement? If so, make plans to attend the 2017 Life and Health Qualifications Seminar. This annual and highly regarded event is the most efficient way to gain your necessary qualifications. Attendees can earn up to 27 hours of CE credit, including up to 2.7 CPE hours. Only 100 seats are available for this seminar; register today for the lowest rates and to secure your space.

Alerts

  • The U.S. House of Representatives on Thursday passed H.R. 10, the Financial CHOICE Act of 2017—which is meant in part to repeal and replace several provisions of the 2010 Dodd-Frank financial reform law—by a 233-186 vote.

  • 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.

Public Policy Activities

  • The C1 Work Group submitted comments to the NAIC with revised recommendations on corporate bond risk-based capital factors based on changes to the representative portfolio.

In the News

  • The Health Practice Council’s concerns regarding the uncertainty surrounding cost-sharing reduction payments were cited in a Wolters Kluwer Law & Business article.

  • Pinnacle Actuarial Resources blog post described how the Academy’s jointly sponsored Actuaries Climate Index can help provide valuable data regarding climate change to the actuarial profession, insurers, and the public.

  • A Health Affairs Blog post discussing possible health insurance reform cited the Actuarial Standards Board’s duty in preserving the actuarial soundness of managed care organizations.

  • A subscriber-only California Broker article cited Senior Health Fellow Cori Uccello on how changes to health insurance markets would affect risk adjustment.

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