The Tax Work Group released a white paper, 2017 and 2021 Legislative Changes to the Definition of Life Insurance, that focuses on summarizing changes to the relevant sections of sections 7702 and 7702A of the Internal Revenue Code.
(May 18, 2023)The Life Reserves Work Group submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on the April 20 exposure of APF 2023-06.
(May 12, 2023)The C1 Work Group submitted a comment letter to the NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group on Exposure 2023-09-IRE – Interim Residual Tranche C1 Factor.
(May 12, 2023)The Index-Linked Variable Annuity Work Group submitted a comment letter to the ILVA Subgroup of the Product Standard Committee Interstate Insurance Product Regulation Commission on 2023 Compact Requirements for Index-Linked Variable Annuity Products.
(May 05, 2023)The Casualty Practice Council submitted a comment letter to the Actuarial Standards Board (ASB) on the second exposure draft of ASOP No. 29, Expense Provisions in Property/Casualty Insurance Ratemaking.
(May 01, 2023)The Committee on Property Liability and Financial Reporting (COPLFR) submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Casualty Actuarial and Statistical (C) Task Force proposing a modification to the Annual Statement blank that would eliminate the distinction between “short-tailed” and “long-tailed” lines of business in Schedule P.
(April 26, 2023)The Committee on Property Liability and Financial Reporting (COPLFR) and the Health Practice Council’s Committee on Financial Reporting and Solvency submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Blanks Working Group on proposed exposure to add instructions for the appointed actuary and qualified actuary contacts to the Jurat electronic only section in order to address any actuarial questions.
(April 26, 2023)The Variable Annuity Reserve and Capital Work Group (VARCWG) submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on APF 2023-05; specifically, hedging language to address index credit hedging in VM-21.
(April 19, 2023)The Life Reserves Work Group (LRWG) submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on proposed changes to VM-20 outlined in APF 2023-03 (Part 1).
(April 19, 2023)The Life Valuation Committee submitted a comment letter to the National Association of Insurance Commissioners' Life Actuarial (A) Task Force (LATF) on the Valuation of Securities (VOSTF) Task Force’s referral to LATF on Bond Risk Measures.
(April 13, 2023)The Long-term Care Reform Subcommittee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Actuarial (B) Working Group featuring an Academy issue brief, Long-Term Care Insurance: Considerations for Treatment of Past Losses in Rate Increase Requests (October 2018), in response to a working group concern about the lack of a consistent definition of “past losses” in the context of recoupment.
(April 11, 2023)Social Security Committee open letter to Congress introducing the Social Security Challenge, an interactive reform simulation to support the public dialogue on Social Security solvency.
(April 05, 2023)The Life Practice Council, Health Practice Council, and Casualty Practice Council submitted a joint comment letter to the Colorado Division of Insurance on its recent exposure of a draft regulation on Governance and Risk Management Framework Requirements for Life Insurance Carriers’ Use of External Consumer Data and Information Sources, Algorithms, and Predictive Models: the first exposed implementation regulation for Colorado Revised Statute (C.R.S.) § 10-3-1104.9, signed into law on July 6, 2021.
(March 06, 2023)The Health Practice Council’s Financial Reporting and Solvency Committee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Actuarial (B) Working Group inquiring if the Working Group might issue an accounting interpretation for the interaction between Actuarial Guideline LI (AG 51) and Appendix A-010.
(February 23, 2023)The Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners (NAIC) LATF on the proposed changes to VM-20 outlined in APF 2023-03.
(February 21, 2023)The C1 Work Group submitted a comment letter to the National Association of Insurance Commissioners (NAIC) VOS on the proposed methodology for collateralized loan obligations (CLOs).
(February 14, 2023)The Life Practice Council and the Casualty Practice Council submitted a joint comment letter to the National Association of Insurance Commissioner’s Big Data and Artificial Intelligence (H) Working Group on its Artificial Intelligence/Machine Learning Model and Data Regulatory Questions Exposure.
(February 13, 2023)The Health Solvency Subcommittee sent a comment letter responding to a request from the NAIC’s Health Risk-Based Capital (E) Working Group to provide additional investment return scenarios within the subcommittee’s summary of the Investment Income Adjusted Health H2 Experience Fluctuation Risk Factors.
(February 02, 2023)Work Group Submits Comment Letter to the NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group (RBCIRE WG).
(January 31, 2023)The Health Practice Council’s Individual and Small Group Markets Committee and Risk Sharing Subcommittee submitted a comment letter to the Centers for Medicare & Medicaid Services’ (CMS) proposed rule for the 2024 Notice of Benefit and Payment Parameters (NBPP).
(January 30, 2023)Work Group Submits Presentation to the NAIC’s Life Risk-Based Capital (E) Working Group (LRBCWG)
(January 26, 2023)The P/C Committee on Equity and Fairness sent a comment letter to the District of Columbia Department of Insurance, Securities and Banking (DISB) on the DISB’s request for comment on its draft data call to support their study of unintentional bias in automobile insurance.
(January 20, 2023)Annuity Reserves Work Group (ARCWG) Submits Comment Letter to NAIC Valuation Manual (VM)-22 (A) Subgroup
(January 17, 2023)Multiemployer Plans Committee letter to Pension Benefit Guaranty Corporation (PBGC) advancing ideas regarding the Special Financial Assistance (SFA) application process for non-priority plans.
(January 12, 2023)The Individual and Small Group Markets Committee submitted comments to the Centers for Medicare & Medicaid Services’ Center for Consumer Information & Insurance Oversight (CCIIO) on the Draft 2024 Actuarial Value (AV) Calculator Methodology.
(January 12, 2023)Committee on Cyber Risk comments to the U.S. Department of the Treasury and Federal Insurance Office (FIO) request for comment (RFC) on cyber insurance and catastrophic cyber incidents in order to inform a joint assessment being conducted by the Department of the Treasury's Federal Insurance Office (FIO) and the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency (CISA).
(December 14, 2022)Multiemployer Plans Committee comment letter to Pension Benefit Guaranty Corporation (PBGC) submitted in response to PBGC’s request for information on its proposed rule regarding a withdrawing employer's liability under a multiemployer plan.
(December 13, 2022)Comment letter from the Pension Committee and Retirement Policy and Design Evaluation Committee on provisions included in the Securing a Strong Retirement Act of 2022 (SECURE 2.0), the EARN Act, and the RISE & SHINE Act.
(December 07, 2022)Life Illustrations Work Group Submits Comments on Indexed Universal Life Illustrations Exposure
(November 03, 2022)Index-Linked Variable Annuity (ILVA) Work Group Submits Comments on Proposed Actuarial Guideline ILVA
(November 02, 2022)