Annual Meeting and Public Policy Forum, Nov. 13–14

• Speakers at the nexus of critical public policy and professionalism issues facing the U.S. actuarial profession will share their insights at the Academy’s Annual Meeting and Public Policy Forum this fall in Washington. Kenneth Kobylowski, the commissioner of Banking and Insurance for the state of New Jersey, is the latest speaker to be confirmed. He joins presidential appointee Roy Woodall, a member of the Financial Stability Oversight Council, as a panelist for the Nov. 14 roundtable discussion, “What in the World Is Going on Internationally?” Honor your peers who will be receiving awards for distinguished service, and inform yourself about activities at the National Association of Insurance Commissioners (NAIC) and the broad rules applicable to insider trading. View the complete agenda and register here.

Alerts

• State of the Insurance Industry: As required by the Dodd-Frank Act, the Federal Insurance Office on Sept. 24 released its annual report on the current state of the insurance industry. To view the full alert, log in to the members-only page and visit “Cross-Practice Alerts.”
• Practice Note Exposed: The Rate Review Practice Note Work Group released for exposure a new practice note on rate filings, review, and disclosure under the Affordable Care Act for calendar year 2015 and beyond. Comments on the exposure draft should be submitted by Oct. 27. To view the full alert, log in to the members-only page and visit “Health Alerts.”

Public Policy Activities

• The ERM/ORSA Committee released an overview of the key content of an Own Risk and Solvency Assessment (ORSA) and the components of an ORSA for which actuarial input may be useful.
• The Academy published a new Essential Elements paper, “Medicare’s Long-term Sustainability Challenge,” that explores the financial issues facing Medicare, which last year provided health care benefits to more than 52 million seniors and adults with permanent disabilities. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.

Seeking Your Comments on Proposed Attestation Form

• The Academy invites all to review and give input on its draft voluntary attestation template that was presented to regulators at the NAIC 2014 Summer National Meeting. In addition to providing regulators with a concise way to demonstrate qualifications under the U.S. Qualification Standards, the template can be used by all actuaries 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: Oct. 16. The Academy will host a webinar that provides an update on the Centers for Medicare & Medicaid Services’ most recent projections of national health spending. The webinar will take place from noon to 1 p.m. Eastern time.
• 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 (CE) needed to be qualified to sign NAIC annual statement actuarial opinions, as set forth in Section 3.1.1 of the U.S. Qualification Standards. Attendees will earn valuable CE credit. The seminar is nearly sold out, so register today.
• Actuaries who prepare or sign NAIC annual statement actuarial opinions 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 here.

Recent Events

• The Life Practice Council presented a webinar to more than 300 attendees on Sept. 24 reviewing the significant developments concerning principle-based reserving implementation and captives and capital issues presented at the NAIC 2014 Summer National Meeting. View the webinar slides.
• In September’s installment of the webinar series, “Academy Capitol Forum: Meet the Experts,” speakers from the Congressional Research Service shared their insights into the agency’s current health, retirement security, and federal insurance public policy projects. View the webinar slides.

Newly Released

• Fall Retirement Account: Read about the Academy’s “Retirement for the AGES: Measuring for Success” forum, recent publications on Social Security long-term solvency and reform options, Pension Practice Council and subgroup communications with Congress and regulators, and more.
• Fall PBA Perspectives: Read about activities surrounding the implementation of the Principle-based Approach (PBA) for life insurance, including updates on the adoption of Standard Valuation Law legislation, recent Academy work group comments and presentations on PBA-related topics, information from this summer’s NAIC and National Conference of Insurance Legislators meetings, and more.
  

Academy in the News

• A Washington Insurance Rider blog posting covering the recent NAIC ComFrame Development and Analysis Working Group meeting in Washington quoted the Solvency Committee’s comments regarding key considerations for establishing insurance group solvency and capital standards. Additionally, the Academy’s announcement that it would offer its assistance to NAIC efforts to develop such standards was highlighted by Insurance Broadcasting.

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