Five years have passed since the U.S. Qualification Standards (QS) were last revised and effectuated. As such the Academy’s Committee on Qualifications (Committee) has decided to undertake a review to determine if there is a need to start the process of considering revisions to the QS. The Academy’s Board of Directors approved the Committee’s plans to begin this process and therefore the Committee is asking all actuaries and the public to provide comments. Learn more about what areas are of particular interest and how you can submit comments.
Presenters cover ASOP Nos. 46 and 47, relating to risk evaluation and risk treatment in enterprise risk management (ERM). They also discuss why ERM standards are needed and how actuaries should comply with them.
The Casualty, Health, Life, and Professionalism Councils sent comments to the NAIC’s Joint Qualified Actuary (A/B/C) Subgroup in response to its request for comments to a list of nine questions in anticipation of the Subgroup’s meeting at the NAIC Spring National Meeting on April 5, 2013.
This seminar is the primary source of instruction for actuaries who wish to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement but may not have met the specific knowledge requirements set forth in the U.S. Qualification Standards. See why so many of your peers find this seminar the most expeditious way to acquire basic education required to obtain health and life qualifications under Section 3 of the U.S. Qualifications. Register early: Seats are limited and fill up quickly!
The Council on Professionalism submitted an additional comment letter to the NAIC’s Joint Qualified Actuary (A/B/C) Subgroup at their request following their last open call on February 13, 2013, wherein the Council more concisely set forth the value of Academy membership and clarified information about the ABCD.
The Casualty, Life, Health, and Professionalism councils submitted comments to the NAIC's Joint Qualified Actuary (A/B/C) Subgroup on the subgroup's two new charges related to defining a "qualified actuary" and recommending a process to address "unprofessional" actuarial work.
This webinar discusses peer review and common practices actuaries can use to determine whether voluntary peer review of their actuarial services and actuarial communications may be beneficial.
You are invited to a special breakfast on Nov. 29 (7-8 a.m.) to meet with representatives from the Actuarial Standards Board, Actuarial Board for Counseling and Discipline, the Academy’s Council on Professionalism, and its Committee on Qualifications to learn how each operates. Attendees also can stop by to meet one-on-one with representatives during “office hours” (8-9 a.m.). Learn more!
The Casualty, Life, Health, Professionalism, and Financial Reporting Councils submitted comments to the NAIC’s Corporate Governance Working Group concerning the WG’s Proposed Responses to a Comparative Analysis of Existing U.S. Corporate Governance Requirements.
Speakers give an overview of Precept 13 and discuss how to consider applying it in a self-regulating profession. Several case studies are also included.
Register now and save $100 on your registration fee for the Life and Health Qualifications Seminar. This annual seminar is the primary source of instruction for actuaries who wish to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement but may not have met the specific qualification requirements set forth in the U.S. Qualification Standards. Don’t miss it—registration is limited to only 100 attendees!
Regulators and other attendees at the NAIC summer meeting had an opportunity to talk one-on-one with representatives of the ASB, ABCD, COQ, and Council on Professionalism during a breakfast and office hours hosted by the Academy’s Council on Professionalism on Aug. 11. Topics of discussion included qualifications, use of “professional judgment” as provided in ASOPs, and the movement within the profession to risk-focused analysis. The breakfast also featured a slide presentation on professionalism.
The Health Practice Council and the Committee on Qualifications sent a letter to all state insurance commissioners and chairs of each state house and senate insurance committee regarding the appropriate definition of "Qualified Actuary" as it relates to the Affordable Care Act's rate review provision. Under the Affordable Care Act, the Centers for Medicare and Medicaid Services (CMS) is authorized to determine whether health insurance rate increases filed with states are “unreasonable.” As of September 1, 2011 rate increases equal to or greater than 10 percent may be reviewed by states that have been determined by CMS to have an effective rate review program; otherwise, increases in excess of 10 percent will be reviewed by CMS to determine whether such rate increases are “unreasonable.” As a result, many states are in the process of drafting regulatory language that would create their own rate review program. In the past few months, an inconsistency in the definition of “qualified actuary” in some state regulations has come to the attention of the American Academy of Actuaries. The letter provides recommended language regarding the appropriate definition of qualified actuary as states move to implement the Affordable Care Act’s rate review provision.