Public Policy News

The Academy’s Long-Term Care Practice Note Work Group has published an updated practice note relating to long-term care rate stability under the NAIC’s Long-Term Care Insurance Model Regulation.
(October 23, 2012)
The Academy's International Accounting Standards Task Force (IASTF) will present a webinar on the FASB and IASB Insurance Contracts Project. Attendees will learn about IASB's work on Phase 2 of the project and the resulting significant changes to the International Financial Reporting Standard (IFRS) on insurance contracts, and potential changes to U.S. GAAP. (October 16, 2012)
The Academy's Actuarial Guideline 43/C-3 Phase II Work Group submitted a report to the NAIC with possible ideas for a review process of Actuarial Guideline 43 and C-3 Phase II. (October 12, 2012)
The Academy’s Health Practice Council Communications Committee published a new Campaign 2012 voter guide, A Guide to Analyzing the Issues: Medicare Premium Support. The guide is intended to help voters understand what premium support is and the potential implications of shifting Medicare to a premium support program. Read the news release. (October 9, 2012)
The Academy’s Rate Review Practice Note Work Group published a new practice note on the preparation, review, and disclosure of rate filings under the Affordable Care Act.
(October 9, 2012)
Presenters will provide important information for pricing actuaries when completing an actuarial certification related to pricing long-term care insurance policy forms under the rate stability provisions of the NAIC’s Long-Term Care Model Regulation. Register today! (October 9, 2012)
The International Accounting Standards Task Force comments to the International Accounting Standards Board on its working drafts, Feedback on the premium-allocation approach decisions, Feedback on the Non-Insurance Components and on measuring earned premium under the building block approach.
(October 9, 2012)
Join members of the Rate Review Practice Note Work Group on Oct. 12 to learn more about the review and disclosure requirements of “unreasonable” rate increases under the Affordable Care Act (ACA). Presenters will provide an overview of the final practice note and answer questions.
(October 1, 2012)
The Casualty, Life, Health, Professionalism, and Financial Reporting Councils submitted comments to the NAIC’s Corporate Governance Working Group concerning the WG’s Proposed Responses to a Comparative Analysis of Existing U.S. Corporate Governance Requirements. (September 28, 2012)
The Financial Reporting Committee submits comments to the Financial Accounting Standards Board on its exposure draft regarding Liquidity Risk and Interest Rate Risk Disclosures and how the proposed amendments would affect insurance companies. (September 26, 2012)
The agenda for this Nov. 7–8 seminar includes new breakout sessions and hands-on workshops led by experienced faculty members who will guide you through the requirements and recent changes to those requirements for writing P/C loss reserve opinions for year-end 2012. (September 24, 2012)
Presenters will provide a status report on the FASB and IASB insurance contracts project. There also will be a discussion of IASB’s work on Phase 2 of the project, the resulting significant changes to the International Financial Reporting Standard (IFRS) on insurance contracts, and the potential changes to U.S. GAAP that are being considered by FASB. Stay tuned for more information! (September 21, 2012)
The recent Supreme Court decision gives states the option of whether to implement the Medicaid expansion provision in the ACA. This brief highlights some of the issues that federal and state policymakers and regulators should consider as they are making their Medicaid expansion decisions. (September 10, 2012)
The LPC held its 24th Post-NAIC/PBA Webinar on Aug. 30. The webinar focused on the NAIC’s Life Actuarial Task Force activities including an update from the NAIC’s Summer National Meeting in August. In addition, the webinar covered the Academy’s proposed PBR updating and review process, Actuarial Guideline 38 activities, an update on capital issues and a brief summary of the Academy professionalism event at the meeting. Download the presentation slides for free or purchase the audio recording. (August 31, 2012)
Register now for the Post-NAIC Update/PBA webinar for a review of NAIC’s life and annuity activities—including those of the Life Actuarial Task Force—and receive an update on the Valuation Manual that was adopted by the NAIC’s life insurance committee on Aug. 17. (August 27, 2012)
The Reinsurance Committee responded to the Federal Insurance Office's request for comment on topics relating to reinsurance, including: the purpose of reinsurance, the effect of domestic and international regulation on reinsurance in the U.S., and the coordination of reinsurance supervision nationally and internationally. (August 27, 2012)
The Solvency Committee sent comments to the IAIS on its Draft of Common Framework for Supervision of Internationally Active Insurance Groups (ComFrame) concerning the relationship between Internationally Active Insurance Groups (IAIGs) and supervisors, and the framework for supervisors to address group-wide activities and risks. These comments were previously sent to the NAIC and IAA on July 27, 2012. 
(August 16, 2012)
The Academy’s Health Practice Council sent a letter to Sen. Thune and Rep. Boustany to clarify the nature and intent of recent Academy-hosted roundtables focused on addressing the accessibility and affordability of long-term care services. (August 15, 2012)
The Flood Insurance Subcommittee presented an actuarial perspective on flood insurance reform at the NAIC’s Center for Insurance Policy and Research summit on flood insurance reform. (August 14, 2012)
Registration is now open for the Nov. 7–8 P/C Effective Loss Reserve Opinion Seminar: Tools for the Appointed Actuary. Actuaries who write P/C loss reserve opinions and who want to stay up to date on regulations and standards applicable in drafting loss reserve opinions should attend. New breakout sessions will focus on intercompany pooling, premium reserves, reinsurance, and extended reporting contracts. New workshops will cover sample opinions and report documentation. Don’t miss it! (August 10, 2012)