Academy Board Election Results

• The results are in and Academy members have elected candidates Mike Angelina, Richard Daillak, and Joeff Williams as regular directors on the Academy’s board.  Angelina, Daillak, and Williams have each held committee leadership roles, and will start their three-year terms as regular directors after the November Annual Meeting. Read more here.

Annual Meeting and Public Policy Forum, Nov. 13–14—Last Day of Discounted Registration

• Today is the last day to register and pay the discounted price for the Academy’s 2014 Annual Meeting and Public Policy Forum. Academy members will gather in Washington Nov. 13–14 to hear from government officials and leaders of the actuarial profession, earn continuing education credits and honor their peers.

Highlights will include:

• A keynote address from the Honorable Ben Nelson, former Senator and current chief executive officer of the National Association of Insurance Commissioners;
• A dinner performance from political satirist Mark Russell, who lampoons the headlines through stand-up comedy and music, with no two shows ever the same;
• Speakers from the White House staff, the Congressional Budget Office, federal agencies with key oversight roles affecting the actuarial profession, and state insurance commissioners;
• Awards honoring six distinguished actuaries for their service to the public and the profession

Seeking Your Comments on Proposed Attestation Form

• The Academy invites all to review and give input on its draft attestation template that was presented to regulators at the NAIC Summer 2014 National Meeting. In addition to providing regulators with a concise demonstration of qualifications under the U.S. Qualification Standards, the template may also provide actuaries with a new way to demonstrate relevant credentials and qualifications in a standardized, straightforward, and documentable manner. Comments will be considered through Oct. 17, 2014. Please submit your comments through the Academy website.

More Opportunities to Learn

• Save the date: If you missed the NAIC Summer 2014 National Meeting in Louisville, Ky., then register now to join the Life Practice Council’s Post-NAIC Update/PBA webinar, next Wednesday, Sept. 24. Moderator Dave Neve, chairperson of the Life Financial Soundness/Risk Management Committee, will lead discussions on the Academy’s activities at the meeting, the latest developments in principle-based reserving implementation, upcoming Life Actuarial Task Force (LATF) initiatives, captives and capital issues.
• There is still time to register for the 2014 Life and Health Qualifications Seminar, Nov. 10–13 in Arlington, Va.—the most efficient way to acquire the basic and continuing education needed to be qualified to sign National Association of Insurance Commissioners (NAIC) annual statement actuarial opinions, as set forth in Section 3.1.1 of the U.S. Qualification Standards.  The seminar is nearly sold out, so register now. Learn more and register now.
• This month’s Academy Capitol Forum: Meet the Experts webinar, on Sept. 25, will explain the Congressional Research Service’s (CRS) latest projects, and the role of the agency in public policy development. Often referred to as Congress’ think tank, CRS is an objective, nonpartisan agency providing public policy research and legal analysis exclusively to members of Congress. Speakers from the CRS will discuss the agency’s projects on key public policy issues, including health policy, income/retirement security, and federal insurance issues. Learn more and register now.
• Actuaries who prepare or sign NAIC annual statements of actuarial opinion on P/C loss reserves, or those who assist in preparing them, are urged to register for the Academy’s 2014 Seminar on P/C Effective Loss Reserve Opinions: Tools for the Appointed Actuary, Dec. 2–3 at the Westin Baltimore Washington Airport. Attendees will earn valuable CE credit. Learn more and register now.

Alerts

• The U.S. House of Representatives passed legislation this week that would revise the capital standards provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, H.R. 5461, would provide the Federal Reserve with the authority and ability to differentiate between banks and insurers for the purposes of capital requirements. To view the full alert, log in to the members-only page.
• The Internal Revenue Service (IRS) has released proposed and final rules addressing hybrid retirement plans. To view the full alert, log in to the members-only page.

Public Policy Activities

• The Academy’s Solvency Committee submitted comments to the National Association of Insurance Commissioners on the key priorities and principles that should be considered when developing insurance group solvency and capital standards. Click here to read the news release. 
• The PBR Strategy Subgroup sent a comment letter to the NAIC’s Life Actuarial Task Force (LATF) regarding primary security calculation methods and the definition of "Qualified Actuarial Opinion" proposed in the NAIC’s exposure draft of AG 48.

Academy In the News

• Kaiser Health News reached out to Senior Health Fellow Cori Uccello for comment in an article examining potential flaws in the federal insurance calculator used in determining whether health care plans meet the minimum coverage standards under the Affordable Care Act (ACA). The story ran in the Washington Post and was republished by other media outlets.
• A column discussing retirement income plan strategies in the Jerusalem Post cited analysis from the Academy’s discussion paper “Risky Business: Living Longer Without Income for Life.” The story notes that calculating for increased lifespans is a significant challenge facing today’s financial planners. 

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