Professionalism News and Events

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.

(August 22, 2012)
Don’t miss 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. Register today if you have not met these specific knowledge requirements set forth in the U.S. Qualification Standards, intend to change practice areas (experienced FSAs or career ASAs), or need an excellent source of continuing education. Seats are limited!
(July 27, 2012)
Speakers present case studies and answer questions from the audience on the Actuarial Board for Counseling and Discipline’s Request for Guidance process. (June 25, 2012)
Nominations for three different Academy awards are open. The Jarvis Farley Service Award is given to an Academy member who has made an extraordinary contribution to the profession through long-time service as an Academy volunteer. The Robert J. Myers Public Service Award recognizes extraordinary contribution to the public good through service to the government or in the public sphere. And, initiated last year, are the annual Awards for Outstanding Volunteerism to honor Academy volunteers who have made a single, noteworthy contribution above and beyond what is reasonably expected. (April 20, 2012)
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. (April 20, 2012)
Presenters John Morris, Kenneth Quintilian, and Sheila Kalkunte provide a refresher on the U.S. Qualification Standards and answer questions from the attendees. (March 14, 2012)
The Committee on Qualifications co-signed a second letter with the health practice council Vice President 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. (February 10, 2012)
A valuable benefit of Academy membership is free and unlimited access to the Council on Professionalism’s entire—and growing—library of professionalism webinars, which date back to September 2007. Academy members can earn continuing education (CE) credits by listening to these pre-recorded webinars. These credits can be counted toward the annual required three hours of continuing education on professionalism topics, as detailed in the U.S. Qualification Standards (Section 2.2). Click here to see a list of professionalism webinars and to access the links for the recorded presentations and audio files.  (January 26, 2012)
In this webinar, Council on Professionalism members Curtis Huntington and Godfrey Perrott discuss the International Actuarial Association and how its activities potentially affect U.S. actuaries. Presenters also discuss why actuaries should keep up with current international events and stay informed of proposed changes. (December 15, 2011)
The Academy’s Committee on Qualifications sent a letter to the Society of Actuaries in response to their letter raising questions about the qualification requirements for actuaries to change areas of practice under Section 2.1 of the U.S. Qualification Standards. (November 01, 2011)