Public Policy News

Past Academy President Mary D. Miller submitted a letter with extensive comments from the Academy to the NAIC responding to an exposure draft that the Casualty Actuarial and Statistical Task Force (CASTF) issued on a CAS/SOA proposal regarding CASTF’s “Continued Competence” charge. This is a significant proposal that would affect many actuaries. Comments are due by Monday, July 23. Those interested may wish to consider filing their own comments.
(July 20, 2018)
The Extreme Events & Property Lines Committee submitted a paper to the NAIC highlighting regulatory questions that arise if the flood insurance market transitions from relying upon the National Flood Insurance Program to a greater role for private-market coverage.
(July 20, 2018)
The C1 Work Group submitted a comment letter to the Investment Risk-Based Capital (E) Working Group on alternative C1 bond factors for different levels of statutory reserve offset.  (July 17, 2018)
The Macroprudential Task Force submitted a comment letter to the NAIC Liquidity Assessment (EX) Subgroup on the considerations for a liquidity stress test.  (July 16, 2018)
The AG43/C3 Phase II Work Group submitted a comment letter to the Variable Annuities Issues Working Group on proposed policyholder behavior assumptions.  (July 16, 2018)
The AG43/C3 Phase II Work Group submitted a comment letter on the May 31 exposure of the Variable Annuities Issues Working Group Framework.  (July 13, 2018)
The Lifetime Income Risk Joint Task Force submitted a comment letter to Congress on the Lifetime Income Disclosure Act. (July 6, 2018)
The AG43/C3 Phase II Work Group submitted a comment letter to the NAIC on the assumption governance for Actuarial Guideline 43.  (July 5, 2018)
The Annuity Illustration Work Group submitted a comment letter to the NAIC on proposed changes to the Annuity Disclosure Model Regulation #245.  (July 2, 2018)
The Life Illustrations Work Group submitted a comment letter to the California Department of Insurance on Assembly Bill 2634.  (July 2, 2018)
The summer StateScan Quarterly highlights state legislation and regulation in the past quarter including casualty issues related to auto insurance and autonomous vehicles, flood and travel insurance, climate risk, and workers’ compensation; health issues including the individual market, Medicaid, and long-term care; and life insurance issues, public pension plans, and cross-practice issues, such as captive insurers and credit for reinsurance. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members.
(June 28, 2018)
Individual and Small Group Markets Committee members present at the 2018 SOA Health Meeting on examining rules surrounding association health plans, short-term limited duration insurance plans, and health reimbursement arrangements from the Trump Administration. (June 27, 2018)
The Life Reserves Work Group submitted a revised APF to the NAIC on the aggregation of mortality segments for the purpose of determining credibility. (June 27, 2018)
Big Data Task Force presentation to the NAIC Casualty Actuarial and Statistical Task Force (CASTF) Predictive Analytics Book Club on the Big Data and the Role of the Actuary monograph. (June 26, 2018)
The C1 Work Group submitted a comment letter to the NAIC Valuation of Securities Task Force on their proposal to add comprehensive instructions for fund investments to the Purposes and Procedures Manual.  (June 25, 2018)
The Social Security Committee released an issue brief on the 2018 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program. (June 22, 2018)
The Long-Term Care & Disability Committee sent comments on proposed legislation to add a long-term care benefit to the Medicare program, evaluating in terms of financing, benefits, and coordination with other programs. (June 15, 2018)
A new issue brief produced by the Individual and Small Group Markets Committee, Drivers of 2019 Health Insurance Premium Changes, provides an overview of the general factors underlying premium rate setting and highlights the major components driving premium changes for 2019. Read the news release. (June 13, 2018)
The Medicare Subcommittee published an issue brief, Medicare’s Financial Condition: Beyond Actuarial Balance, on significant concerns about Medicare’s long-term financial health. (June 13, 2018)
The Life Reserves Work Group submitted a revised APF on the Aggregation of Mortality Segments in response to comments received on their original version of the APF.  (June 11, 2018)