This Week, Week ending August 26, 2011

Announcements

• Cancelled: Sept 8 Post-NAIC/PBA Update webinar [1]. Due to the Friday's cancellation of the NAIC Summer 2011 National Meeting in Philadelphia, the Academy has cancelled the Post-NAIC Update/PBA webinar on Sept. 8. Registrants will receive a full refund within two weeks (in the same manner as paid). If you do not receive your refund within this time frame, please email Gabriel Swee at swee@actuary.org [2].
• Election Reminder: There's still time to vote in the Academy election for three regular directors and two bylaws amendments! Polls will remain open until 11:59 p.m. ET on Sept. 2 and all Academy members (active as of July 14, 2011) are eligible to vote in this election. If you have not received an email (or paper) ballot, you may request a replacement ballot by emailing elections@actuary.org [3]. For more information on the election, visit the Academy's Election Center [4].

Website: New Postings

• The ERM Committee submitted comments [5] to the NAIC on its Own Risk and Solvency Assessment (ORSA) Guidance Manual.
• The Solvency Committee submitted comments [6] to the International Association of Insurance Supervisors (IAIS) on its concept paper, Common Framework for the Supervision of Internationally Active Insurance Groups. These comments further address the group-wide supervision of internationally active insurance groups.
• The Committee on Property and Liability Financial Reporting sent comments [7] to the AICPA regarding its working draft of Audit and Accounting Guide Property and Liability Insurance Entities.

Upcoming Events

• Registration is now open for the Sept. 21 Code of Professional Conduct webinar [8].
  This webinar will provide both a primer and a refresher course on what the code means to you as a practicing actuary. You'll discover that code compliance assures the integrity and quality of your work, learn the details of the Code's precepts and better understand what may constitute a violation, and much more. In these uncertain economic times, the code becomes ever more important. Don't miss out on this timely webinar!
• Take advantage of the extended early bird registration discount for the Life and Health Qualifications Seminar [9]. Registration fees will increase after Sept. 9! Presenters will discuss asset adequacy testing, statutory insurance accounting, valuation and nonforfeiture requirements, and more. This Nov. 7-10 seminar is a great way for actuaries to earn the 15 hours of Continuing Education required under Section 3 of the U.S. Qualification Standards related to the NAIC life and health annual statement opinions. It's also ideal for experienced FSAs and career ASAs intending to change practice areas.
• Interested in learning more about PBA implementation challenges and how PBA will affect the valuation process? The Preparing for Change under PBA for Life Products: Life Company Reserves and Capital [10] seminar will address these specific implementation challenges with an emphasis on how PBA will affect the valuation process for a company. Register for this Sept. 14 seminar to gain a deeper understanding of these key issues.
• Are you up to date on regulations and standards applicable in drafting loss reserve opinions? Register now to attend the 2011 P/C Effective Loss Reserve Opinion Seminar: Tools for the Appointed Actuary [11], which will cover topics such as accepting an opinion assignment, documentation, point estimates, and risk of material adverse deviation. This Nov. 16 and 17 seminar also will cover new guidance on the repeal of ASOP No. 9 (Documentation and Disclosure in Property and Casualty Insurance Ratemaking, Loss Reserving, and Valuations [12]), revised ASOP No. 36 (Statement of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserve [13]), and ASOP No. 43 (Unpaid Claim Estimates [14]).

Recently Released Publications

• August HealthCheck [15]: Read this issue to learn about a recent court ruling on the individual mandate requirement in the Affordable Care Act and proposed rules relating to health exchanges and group health plans released by the Department of Health and Health and Human Services.

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