Public Policy News

The Committee on Property and Liability Financial Reporting has released an exposure draft of a new practice note on retained risk. Comments are due by March 30. (January 18, 2018)
The Financial Regulatory Task Force submitted comments to the U.S. Senate on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. (January 17, 2018)
The Academy released a summary of select significant regulatory and legislative developments in 2017 at the state, federal, and international levels of interest to the U.S. actuarial profession.
(January 12, 2018)
The Big Data Task Force submitted comments to the NAIC's Big Data (EX) Working Group on their recent exposures.  (January 12, 2018)
The Role of the Actuary Subgroup sent an Amendment Proposal Form to the NAIC Life Actuarial (A) Task Force on changes to the definition of Actuarial Opinion outlined in VM-01. (January 11, 2018)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the CEJ Expanded Outline. (January 3, 2018)
The Retirement System Assessment and Policy Committee published an issue brief providing an actuarial perspective on the role of U.S. tax policy in retirement security. (December 28, 2017)
The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note.
(December 19, 2017)
The Financial Reporting Committee (FRC) submitted comments to the Financial Accounting Standards Board (FASB) on its proposed updates to market risk benefits in the accounting for long-duration contracts. (December 18, 2017)
The Financial Reporting Committee (FRC) submitted comments to the Financial Accounting Standards Board (FASB) on its proposed updates to the accounting for long-duration contracts. (December 15, 2017)
The winter StateScan Quarterly highlights state legislation in the past quarter related to auto insurance, health insurance marketplace changes, pension plans, principle-based reserving, and more. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members. (December 14, 2017)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the NAIC group's "10 Things You Should Know Before Purchasing Life Insurance" exposure draft.  (December 14, 2017)
The Health Practice Council submitted a letter to the U.S. House and Senate providing comments on the potential consequences of eliminating the ACA's individual mandate, as possible in the conference committee for the Tax Cuts and Jobs Act. (December 12, 2017)
The Academy presented on both public policy and professionalism matters at the National Association of Insurance Commissioners (NAIC) Fall 2017 National Meeting Dec. 2-4 in Honolulu. Read the Academy alert on highlights from the meeting here. (December 8, 2017)
The Health Practice International Committee published an issue brief on global aging demographics, quality of life during the end-of-life period, palliative versus curative care, and strategies for address health care challenges at the end of life using case studies from a variety of countries. (December 6, 2017)
Arnold Dicke, Chair of the Role of the Actuary Subgroup, presented an update on the development to the NAIC Life Actuarial (A) Task Force on the definition of “qualified actuary” in the valuation manual and standard valuation law.  (December 1, 2017)
Donna Claire, Chair of the PBR Governance Subgroup, presented an update to the NAIC Life Actuarial (A) Task Force on the Academy’s efforts on PBR implementation. (December 1, 2017)
The Life Practice Council sent a comment letter to the NAIC's Financial Condition (E) Committee raising concerns over the process by which the NAIC is developing changes to the statutory framework for variable annuities (VAs), including both C-3 Phase II for risk-based capital (RBC) and Actuarial Guideline (AG) 43 reserve requirements. (December 1, 2017)
Mary Bahna-Nolan, Chair of the Academy’s Life Experience Committee, gave a presentation to the NAIC Life Actuarial (A) Task Force on joint committee recommended changes related to guaranteed issue (GI) tables, and exposed simplified issue (SI) exposed tables and report.  (November 30, 2017)
Mary Bahna-Nolan, Chair of the Academy’s Life Experience Committee, gave a presentation to the NAIC Life Actuarial (A) Task Force on developing accelerated  underwriting techniques. (November 30, 2017)