Academy News

Read about the brave new world of driverless cars, how higher disability claims may be one of the unintended consequences of health care reform, the ways in which well-intentioned efforts to shore up defined benefit pensions may be hastening their demise, and much more. (September 03, 2013)

Read about Academy efforts at the NAIC meeting, the continuing dialogue with regulators on actuarial professionalism issues, a new issue brief on the PBGC deficit, and regulator director elections open through Sept. 16. (August 30, 2013)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (August 30, 2013)

Want to learn what you missed at the NAIC Summer Meeting? Register now for the Life Practice Council’s Sept. 19 webinar to learn about the Academy’s activities at the meeting and progress on principle-based reserving (PBR), which is now being adopted by the states. Speakers will lead an in-depth discussion of reserving developments for non-variable annuities (VM-22) and also provide updates on Life Actuarial Task Force activity and the Academy’s professionalism initiatives. (August 28, 2013)

Two Academy practice councils made presentations at the NAIC’s Center for Insurance Policy and Research Summit. Dave Neve, chairperson of the Life Financial Soundness Risk Management Committee, made a presentation on issues related to internal modeling for PBR at the summit on behalf of the Life Practice Council. Academy Vice President Mike Angelina, representing the Casualty Practice Council, presented actuarial perspectives on both property/casualty insurance issues and the effects of current liability reporting. (August 27, 2013)

Members can vote for four regular directors starting on Monday, Aug. 26. Please check for an email from Intelliscan on Monday (elections@intelliscaninc.net), the Academy's election vendor, for your online ballot. For those without email addresses, you will receive your ballot by regular mail. If you can't find your ballot and would like to vote online, visit the Intelliscan website to submit your votes. Elections will be open until Sept. 16-We encourage you to vote! To learn more about this year's candidates, visit the Academy Board Election Center. (August 26, 2013)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (August 23, 2013)

The Pension Committee published an issue brief addressing the Pension Benefit Guaranty Corporation’s deficit in its single-employer program.  The issue brief concludes that the agency’s methods and assumptions have produced a reasonable representation of the PBGC single-employer program’s current obligation and deficit.  The issue brief explains that while policymakers should explore new sources of income to address the deficit, immediate premium increases on plan sponsors are unnecessary and potentially counterproductive. Read the news release. (August 22, 2013)

The Life Practice Council sent its Legislation-In-Brief to the NAIC Principle-Based Reserving Implementation Task Force that outlines details of and support for the NAIC model Standard Valuation Law and PBR methodology.  The LPC plans to distribute the brief to state insurance regulators and legislators.   (August 20, 2013)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (August 16, 2013)

Read about a new practice note on large group medical insurance reserves, an exposure draft on minimum value and the ACA, an upcoming ACA webinar, and legislative and regulatory news. (August 14, 2013)

Award-winning author, journalist, and radio and TV personality Stephen J. Dubner, co-author of the international bestsellers Freakonomics and Superfreakonomics, will share his wit and insight at the Academy’s annual meeting on Nov. 4. At this year’s event, held in conjunction with the CAS Annual Meeting in Minneapolis, the Academy also will install its 49th president, welcome new regular directors elected over the summer, and recognize recipients of three prestigious awards. Don’t’ miss it! (August 12, 2013)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (August 09, 2013)

Online voting for the four open regular director positions on the Academy board will open August 26. Academy members will receive an email on August 12 from Intelliscan, our election vendor, announcing that Academy election information will be sent to you soon. This email will come from elections@intelliscaninc.net. Please be sure to add it to your safe senders list and to check your Spam folder to make sure you receive it. Read Academy President Cecil Bykerk's message to members on the election process and upcoming dates. (August 08, 2013)

Reforms introduced by the Affordable Care Act (ACA) may create uncertainty for health insurance issuers. What does this uncertainty mean for your future financial statements, especially given increased ACA requirements for actuarial estimates in financial reporting? Register for the Aug. 22 webinar to learn about the financial reporting implications of several key provisions of the ACA—premium stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities. (August 07, 2013)