In Memory of Curtis E. Huntington
With great sadness we announce the passing of Curtis E. Huntington, who died peacefully on Oct. 7 in Ann Arbor, Mich. after a long, hard-fought battle with cancer. He was 71. Curtis was known and admired by many as an accomplished actuary who worked tirelessly to promote actuarial professionalism. He was a current board member of the Actuarial Board for Counseling and Discipline (ABCD), a member of the American Academy of Actuaries, a fellow of the Society of Actuaries, a fellow of the Conference of Consulting Actuaries, and an associated professional member of the American Society of Pension Professionals and Actuaries. Curtis was presented the Jarvis Farley Service Award in 2012. He was also honored in an obituary published by the University of Michigan’s Mathematics Department.

Academy in the News

• Pension Benefit Guaranty Corporation (PBGC) Director Josh Gotbaum’s praise for the Academy’s “efforts to promote lifetime income” was the topic of an Oct. 9 posting on the PBGC Retirement Matters blog.
• The Academy Pension Committee’s Oct. 2 comments to the PBGC regarding proposed regulations on premium rates, payment of premiums, and reducing regulatory burdens were highlighted in the BenefitsLink Retirement Newsletter.
• A LifeHealthPro story on a new California accelerated death benefit law mentioned that new product filing requirements include “an actuarial memorandum prepared, dated and signed by a member of the American Academy of Actuaries.”
• The Academy’s work was cited to help debunk myths about longevity risk in an Iowa Living magazine story, “Could assumptions harm your retirement plan?”

News from the Actuarial Standards Board

• The ASB recently approved an exposure draft of a revision of ASOP No. 38, now titled “Catastrophe Modeling (for All Practice Areas).” The proposed revision will apply to actuaries performing professional services when selecting or using catastrophe models, whether or not they are proprietary in nature. The comment deadline is Dec. 30, 2013. (Reminder: You may earn professionalism continuing education credits by reviewing and providing input on exposure drafts of ASOPs as stated in the U.S. Qualification Standards.)

Professionalism News

• During a meeting of the NAIC Health Actuarial Task Force, the Academy responded to questions and provided an overview of its comment letter that was submitted to the NAIC Joint Qualified (A/B/C) Subgroup in response to a request for comment to its Discussion Paper.

Public Policy Activities

• The Group Long-Term Disability Work Group sent a final proposed group long-term disability actuarial guideline and final report to the NAIC’s Health Actuarial Task Force for exposure with comments due to the NAIC by Oct. 30.
• The P/C Risk-Based Capital Committee submitted comments to the NAIC on the Reinsurance Association of America’s discussion draft on reinsurance credit risk.
• The Life Capital Adequacy Subcommittee sent two comment letters to the NAIC Life-Risk Based Capital (E) Working Group:  a letter on the double counting of the Asset Valuation Reserve and another letter on additional collateral for transactions with unauthorized reinsures. 

Newly Released Publications

• October HealthCheck: Read about a new lunchtime webinar series, two webinars on health practice notes, a report on ACA health insurance exchanges, new CMS and Treasury proposed rules, and Academy experts in the news.

Opportunities to Learn and Earn CE

• Oct. 16, Diagnosing Which Health Treatments Improve Outcomes:  A PCORI Overview and How to Get Involved: Gregory Martin, the Deputy Director of Stakeholder Engagement at the Patient Centered Outcomes Research Institute (PCORI), will be our first guest speaker for the new Academy Capitol Forum webinar series. Martin will discuss what PCORI is and does—and how you can be involved. This webinar series is an opportunity for you to learn from the policy experts themselves on a wide variety of public policy topics including health care, risk management, financial reporting, pensions and retirement income, property/casualty, and life insurance.
• Oct. 18, Deep Dive into NAIC Health Annual Statement’s New Exhibit 3A on Health Care Receivables: Join us for a discussion of the Exhibit 3A instructions, which are new for the 2013 NAIC Health Annual Statement. Webinar presenters will provide an overview of the health care receivables, discuss the purpose of the new exhibit, and share examples with cross references to Exhibit 3 and Underwriting & Investment Exhibit Part 2B.
• Oct. 31, Where the Rubber Meets the Road: Applying the Code of Professional Conduct and ASOPs in Your Daily Work: Take a fresh look at how the Code of Professional Conduct and ASOPs affect everything you do as an actuary. Webinar topics including Precept 3 and ASOP No. 41 will be brought to life through a series of vignettes demonstrating the skill and care you need in your work every day. Then, the panel of experts will discuss key takeaways and identify steps you can use to heighten the level of professionalism in your daily work, including documentation and communication.
• Nov. 13–14, P/C Effective Loss Reserve Opinions Seminar: Discounted registration rates end Oct. 22. Whether you’re an actuary who signs P/C loss reserve opinions or one who assists in preparing them, this hands-on seminar will offer you an opportunity to deepen your expertise, become more efficient in your work, and differentiate yourself from others in your field. Don’t miss this highly interactive and customized seminar!

Academy Annual Meeting and Awards Luncheon

• Join award-winning author, journalist, and radio and TV personality Stephen J. Dubner, co-author of the international bestsellers Freakonomics; and Superfreakonomics, as he shares his wit and insight on Nov. 4. The event is being held in conjunction with the CAS Annual Meeting in Minneapolis. The Academy will hold its presidential transition and present the Academy member awards.

ICA 2014 Early Registration Deadline Approaching

• The discounted early registration deadline for the 2014 International Congress of Actuaries ends Oct. 18. Join your fellow actuaries from every discipline and from around the world at ICA 2014 in Washington, March 30–April 4. Visit www.ICA2014.org for the full line-up!

NAAC Issues RFP on Effect of Changing Health Expectancy

• The North American Actuarial Council’s Collaborative Research Group has issued a Request for Proposals (RFP) relating to the effect of changing health expectancy on insurance organizations and governmental programs in North America in terms of products, risks, and stakeholders. Proposals must be received by Nov. 15

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