This Week: Oct. 24-28, 2016

Read the latest news from the Academy.

Recent Academy Activity, Oct. 24–28, 2016

Annual Meeting and Public Policy Forum Next Week

The Academy’s Annual Meeting and Public Policy Forum is next week in Washington, D.C. With more than 40 experts on hand, attendees of the Nov. 3-4 event will get the latest news on today’s top public policy and professionalism issues, and hear from a high-profile roster of keynote and plenary speakers, including former Sen. Chris Dodd of Dodd-Frank Act fame. The agenda offers up to 12 organized-activity continuing education (CE) credits, and up to 1.8 professionalism CE credits. Enrolled Actuaries attending the pension breakouts also can earn up to 5.4 “non-core” CPD credits under the JBEA rules for attending all three sessions. The wonderful musical satire group The Capitol Steps will provide timely political entertainment at Thursday night’s dinner. There’s still time to register and join us in Washington. One- and two-day registrations are available.

Deadline Approaching for Health Care ‘Actuarial Challenge’

The Academy is helping to promote and coordinate a collaborative “Actuarial Challenge,” being conducted by the Robert Wood Johnson Foundation in conjunction with Milliman Inc. This is an opportunity for actuaries to provide innovative ideas and proposals to increase stability in the individual health insurance market. Anyone wishing to participate must complete an initial online application before 6 p.m. EST on Friday, Nov. 11; the challenge itself runs through April 2017. Visit the Actuarial Challenge website for more information.

Public Employment Opportunity

The Washington State Office of the Insurance Commissioner (OIC) is seeking applicants for the chief actuary position within its Rates and Forms Division. The position reports to the deputy insurance commissioner and will contribute to OIC’s goals of protecting consumers, maintaining a healthy insurance climate, and improving customer service by managing the Actuarial Services Unit. A complete description of the opportunity and how to apply is available on the State of Washington’s job opportunities website.

The Academy provides public service announcements to government employers seeking to hire qualified actuaries. See our Public Employment Opportunity Posting Policy for more information.

Upcoming Events

  • LHQ Seminar: A few spaces remain for the 2016 Life and Health Qualifications Seminar, to be held Nov. 13-17 in Arlington, Va. (Washington, D.C., metro area). This highly regarded annual seminar is the primary source of instruction for actuaries who wish to be qualified to issue statements of actuarial opinion for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement. Register now to reserve one of the remaining spaces for this highly regarded seminar.

  • P/C Loss Seminar Approaching: An agenda at a glance is available for the 2016 Seminar on Effective P/C Loss Reserve Opinions, to be held in Chicago on Dec. 6-7. This two-day seminar will enhance your expertise on the latest regulations and standards with reviews of actuarial qualification standards and interactive case studies. Register today.

See our website for a listing of all Academy events.

Public Policy Activities

  • The Solvency Committee submitted comments to the NAIC’s Group Capital Calculation (E) Working Group on its NAIC Staff Memo—Inventory Method Items with Questions exposure draft.

  • The Property and Casualty Risk-Based Capital Committee submitted a report to the NAIC’s Property/Casualty Risk-Based Capital (E) Working Group providing a detailed update of P/C RBC underwriting factors.

In the News

  • The Wall Street Journal cited the Academy’s Pension Assistance List in a story that recommends individuals monitor their retirement accounts to identify potential mistakes made by employers and retirement-plan sponsors. The story was reprinted by a number of other media outlets, including Yahoo Finance, MarketWatch, and Morningstar.

  • A Risk & Insurance story addressing changes in the actuarial and underwriting assumptions for traditional long-term care insurance quoted Bruce Stahl, vice chairperson of the Academy’s LTC Reform Subcommittee, on how assumptions have become more conservative since the 1980s and ’90s.

  • The Academy’s new issue brief examining the Pension Benefit Guaranty Corp.’s multiemployer pension program was cited in a Bloomberg BNA story about legislative approaches to bolster the program’s funding, and was the focus of a PlanSponsor story.

  • The Employee Benefit Research Institute posted a link to the Academy’s new pension risk transfer issue brief in a weekly update featuring news from across the employee benefits industry.

  • An Insurance News Net article cited the Academy co-sponsored Actuarial Challenge, in which teams of actuaries develop and test feasible solutions to improve the performance of the individual health insurance market (see story, above).

  • A Mississippi Watchdog story on the state’s public employee pension funding issues mentioned the Academy’s issue brief on the 80% pension funding standard myth.

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