Academy News

Academy corrects mischaracterizations

Academy President Mary Frances Miller has sent two letters to correct misstatements made about the Academy and the actuarial profession by third parties. In a letter to the National Association of Insurance Commissioners Life Actuarial Task Force, Miller defined the Academy's work in representing the U.S. actuarial profession on public policy issues and outlined the Academy's policies and procedures that help to maintain the objectivity of its work. In a second letter to the U.S. Treasury Department, Miller reinforced the value that actuaries could bring to the Federal Advisory Committee on Insurance and the actuarial profession's commitment to high professional standards. (August 31, 2011 )

July HealthCheck now available

Read about recent health care reform activities in the latest edition of HealthCheck. (August 31, 2011 )

July Actuarial Update now available

Read about the Academy's recent activities in the latest edition of the Actuarial Update. (August 31, 2011 )

Election message from the Academy President

Read President Mary Frances Miller's message to Academy members announcing dates of the online balloting for Academy elections, the slate of candidates for open Regular Director positions to be voted on by the membership, the slate of candidates for presidential officers and vice presidents to be voted on by the Board of Directors, and the bylaws amendments to be voted on by the membership. (August 31, 2011 )

Now available: additional resources on joint discipline proposal

Academy President Mary Frances Miller introduced a joint letter from the presidents of the U.S.-based actuarial organizations regarding a proposal to make improvements to the profession's discipline process in the United States. The joint letter introduced new resources for members to learn more about the proposal, including a working draft of a proposed agreement on joint discipline and an updated set of questions and answers related to the proposal. (August 31, 2011 )

Summer EAR now available

Read about issues that affect pension actuaries and the Academy's work to advance sound pension policy in the latest edition of the Enrolled Actuaries Report. (August 31, 2011 )

Product recall video: Covering Your Bottom Line

Actuary Kevin Bingham, who co-authored "Product Recall: Covering Your Bottom Line" in the March/April 2011 issue of Contingencies, highlights the risk of a product recall and how to plan for it in the Academy's newest YouTube video. Watch it now on the Academy's YouTube channel. (August 31, 2011 )

Response to follow-up questions from Tom Terry's July 8 testimony on the Social Security retirement age

Academy Public Interest Committee Chairperson Tom Terry sent a letter to House Ways and Means Social Security Subcommittee Chairman Sam Johnson and Ranking Member Xavier Becerra in response to follow-up questions from Terry's July 8 testimony on the Social Security retirement age. The letter addressed ways in which policymakers can boost incentives for older workers to work longer. (August 31, 2011 )

August HealthCheck

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.

(August 31, 2011 )

Cancelled: Sept 8 Post-NAIC/PBA Update webinar

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.
(August 31, 2011 )

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. For more information on the election, visit the Academy's Election Center.

(August 31, 2011 )

Principle-based approach (PBA) project

Want to learn more about principle-based approach (PBA)? The Academy has been instrumental in the ambitious effort to modernize the framework for determining life insurers' statutory required capital and reserves in the United States. The proposed method, which is intended to be principle-based, uses risk analysis and risk management techniques to capture underlying life insurance and annuity risks more accurately than the current rule-based, one-size-fits-all approach. Learn more! (August 31, 2011 )

Actuarial voice on insurance advisory committee is essential

In a letter to the U.S. Treasury Department, Academy President Mary Frances Miller urged Treasury officials to ensure that the proposed Federal Advisory Committee on Insurance includes individuals with direct actuarial expertise. (August 02, 2011 )

Audio and Slides Available for The Profession's Responsibility to the Public webinar

The presentation slides and audio recording of the live June 29 webinar The Profession's Responsibility to the Public, are available for download. Presenters discussed the profession's responsibility to the public; Precept 1 of the Code of Professional Conduct; the state of the profession; and the key aspects on maintaining the profession's relevance. (06/30/11) Audio Slides (July 30, 2011 )

Issue brief on Proposals to Improve Medicare's Financial Condition

The Medicare Steering Committee released a new issue brief that summarizes the key cost, access, and quality issues associated with some of the Medicare-related provisions in the various debt and deficit reduction proposals. (May 31, 2011 )