Academy News

New Professionalism Discussion Paper
The Academy's Council on Professionalism has published a discussion paper entitled Conflicts of Interest When Doing Volunteer Work. This paper is intended to assist current and future Academy volunteers in identifying and resolving potential conflict of interest issues that may arise when providing volunteer services to the Academy. This paper is also incorporated into the revised Academy conflict of interest policy. (January 28, 2011 )

Second Health Practice Council Letter to Arizona Insurance Department
The Health Practice Council co-signed a second letter with the Committee on Qualifications Chair to the Arizona insurance director stressing its concern that their regulatory definition of “qualified actuary” for health premium rate actuarial certifications was inappropriate and suggested corrective language. ( )

Nonforfeiture Modernization Work Group Presents to LATF on Guaranteed Nonforfeiture Basis Factor Assumptions
At the NAIC Fall 2012 National Meeting the Nonforfeiture Modernization Work Group presented to the Life Actuarial Task Force based upon its report outlining Guaranteed Nonforfeiture Basis Factor Assumptions.  ( )

Deposit Fund Subgroup Presents Proposal for Synthetic GIC Reserves to LATF
At the NAIC Fall 2012 National Meeting in National Harbor, MD the Deposit Fund Subgroup presented to the Life Actuarial Task Force based upon its report outlining a proposal for reserving synthetic guaranteed income contracts. ( )

ARWG Proposes Solution to GLIB business
The Annuity Reserve Work Group delivered a report to the Life Actuarial Task Force proposing the modification of Actuarial Guideline 33 as a solution to reserving for guarantee living income benefits. ( )

IAWG Comments on ACLI Commercial Mortgage RBC Proposal
The Invested Asset Work Group commented on the American Council of Life Insurers’ Commercial Mortgage Risk-based Capital (RBC) Proposal in a letter to the NAIC’s Life RBC Working Group. ( )