Public Policy News

Senior Life Fellow Nancy Bennett and Tom Campbell, chairperson of the Life Valuation Committee’s AG 43/C3 Phase II Work Group, presented to the Federal Reserve Board Insurance Industry Work Group on regulatory capital requirements for life insurers. (July 11, 2017)
The VM-31 Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on an amendment to eliminate the summary of methods and assumptions that covers multiple product groups in the executive summary. (July 10, 2017)
The Health Financial Reporting and Solvency Committee sent comments to the NAIC's Statutory Accounting Principles Working Group in a Form A Maintenance Maintenance Agenda Submission Form.  (July 7, 2017)
The newest issue of StateScan Quarterly includes state legislative and regulatory activity relating to transportation network companies, captives, public pension plans, and marketplace changes in health care coverage. (July 6, 2017)
The Individual and Small Group Markets Committee and the Medicaid Subcommittee sent comments to U.S. Senate Leadership on the Better Care Reconciliation Act (BCRA) of 2017, which is intended to repeal and replace provisions in the Affordable Care Act. Read the news release. (June 30, 2017)
The newest issue of PBA Perspectives includes items on the PBR Review (EX) Working Group’s pilot project; the Life Practice Council’s PBR Boot Camp in Orlando in May; and the PBR Model Governance Practice Note Work Group’s new practice note. (June 30, 2017)
Academy Senior Casualty Fellow Jim MacGinnitie, and Stu Mathewson and Nancy Watkins, both members of the Flood Insurance Work Group, made a presentation on Capitol Hill based on the work group’s recent monograph, The National Flood Insurance Program: Challenges and Solutions. (June 26, 2017)
The Non-Guaranteed Elements Work Group submitted comments to the New York Department of Financial Services on re-proposed 11NYCRR 48 (insurance regulation 210) on life insurance and annuity non-guaranteed elements.
(June 22, 2017)
The Government Mandates Work Group published a new issue brief providing information on the impact of laws and regulations on consumer cost and consumer choice for annuity and life insurance benefits. (June 15, 2017)
The C1 Work Group submitted comments to the NAIC with revised recommendations on corporate bond risk-based capital (RBC) factors based on changes to the representative portfolio. (June 8, 2017)
The Medicare Subcommittee sent comments to the House Ways and Means Health Subcommittee on preserving and strengthening the Medicare program.
(June 1, 2017)
The PBR Governance Work Group submitted comments to the Actuarial Standards Board (ASB) on the exposure draft for a new ASOP, Principle-Based Reserves for Life Products. (May 31, 2017)
The Solvency Committee submitted comments to the NAIC's Group Capital Calculation (E) Working Group on the group capital calculation and the proposed adjustments for comparability and consistency. (May 26, 2017)
The Casualty Practice Council presented a full-day program on predictive modeling for the National Association of Insurance Commissioners’ Insurance Summit in Kansas City on May 22-26. The program ended with a public policy panel discussion led by Senior Casualty Fellow Jim MacGinnitie. (May 25, 2017)
The Operational Risk Work Group submitted comments to the NAIC on the Life Risk-Based Capital (RBC) operational risk factor. (May 25, 2017)
The Health Practice Council (HPC) sent comments to the Senate Finance Committee on improving the individual health insurance market and changing the approach to Medicaid funding. (May 23, 2017)
The Financial Regulatory Task Force submitted comments to U.S. House leadership on H.R. 10, the Financial CHOICE Act of 2017, noting that if Congress chooses to establish an Office of the Independent Insurance Advocate, that office should include an Office of the Actuary. (May 19, 2017)
The Life Principle-Based Approach Practice Note Work Group released the final practice noteLife Principle-Based Reserves Under VM-20, to assist actuaries with the implementation of the principle-based life reserve valuation approach adopted by the NAIC as detailed in the Requirements for Principle-Based Reserves for Life Products—VM-20.
(May 18, 2017)
The Life Reserves Work Group submitted an amendment proposal form to the National Association of Insurance Commissioners Life Actuarial Task Force regarding the VM-20 wording on modeling of policy loans and separate account assets.
(May 12, 2017)