This Week, September 10-14, 2012

Recent Academy Activity, Sept. 10 – 14, 2012

Website: New Postings

  • The Academy released a decision brief highlighting some of the issues that federal and state policymakers and regulators should consider when making their Medicaid expansion decisions. Read the Academy news release.

Recent Events

  • Approximately 5,600 actuaries learned how to apply Precept 13 during this week’s Professionalism webinar. Speakers gave an overview of the precept and discussed how to consider applying it in a self-regulating profession. Several case studies also were covered. Members: Log in to download the slide presentation.
  • The 2-day seminar, Life PBR—Test Drive the New VM-20, gave nearly 95 attendees the opportunity to work hands on with the new reserving requirements in VM-20.

Member Alerts

  • Pension Issues: Academy members who practice in the pension area may be interested in a Sept. 27 IRS presentation on the Moving Ahead for Progress in the 21st Century Act (MAP-21) and recently released related guidance. Log in to read the full alert.
  • General Insurance Issues: The National Association of Insurance Commissioners (NAIC) Executive Committee and Plenary adopted the Own Risk and Solvency Assessment (ORSA) Model Act. Log in to read the full alert.
  • Life Insurance Issues: The NAIC Executive Committee and Plenary voted to adopt revisions to Actuarial Guideline 38, which set forth reserve requirements for all universal life products that employ secondary guarantees. Log in to read the full alert.
  • Health Insurance Issues: The U.S. Census Bureau reported that the number and percentage of uninsured in the United States declined last year. The report, Income, Poverty, and Health Insurance Coverage in the United States: 2011, details findings on the number of Americans with and without health insurance coverage and other statistics related to health insurance coverage, income levels, and poverty rates. Log in to read the full alert.

Upcoming Events

  • Just announced—Save the date, Nov. 27, for the Social Security: Actuarial Status and Assumptions Webinar. Panelists will present the actuarial perspective on the 2012 Social Security Trustees Report and the assumptions used in determining Social Security projections. Social Security Administration Chief Actuary Steve Goss will be on hand to provide additional comments and answer questions.
  • Academy Annual Meeting and Awards Luncheon: The Academy will transition presidential leadership from Dave Sandberg to Cecil Bykerk, announce winners of the annual awards, and hear from keynote speaker Stu Rothenberg. The Oct. 15 luncheon is included in your registration if you are attending the SOA meeting. Academy members who are not attending the SOA meeting may purchase a ticket for $70.
  • P/C Effective Loss Reserve Opinion Seminar—Tools for the Appointed Actuary: Register now for this Nov. 7–8 seminar if you write P/C loss reserve opinions and want to stay up to date on regulations and standards applicable in drafting loss reserve opinions. New breakout sessions will focus on intercompany pooling, premium reserves, reinsurance, and extended reporting contracts. New workshops will cover sample opinions and report documentation.
  • Life and Health Qualifications Seminar: This Nov. 12–15 seminar is the primary source of instruction for actuaries who wish to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement but may not have met the specific qualification requirements set forth in the U.S. Qualification Standards. Don’t miss it—seats are limited!

Recently Released Publications

  • Fall Enrolled Actuaries Report is now available. Read about issues that affect pension actuaries and the Academy’s work to advance sound pension policy in the latest edition.

Academy in the News

  • Actuaries Add Ways to Slice Group Disability Valuation Table Data
    LifeHealthPro, Sept 12, 2012

    The Academy is cited for its work in using an SOA experience study to create a new valuation table and for its update on the project provided to the NAIC at its summer meeting last month.

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