Risk Management & Financial Reporting News

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 Big Data Task Force submitted comments to the NAIC's Big Data (EX) Working Group on their recent exposures.  (January 12, 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 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 Solvency Committee submitted comments to the NAIC's Group Capital Calculation (E) Working Group on the group capital calculation and the proposed treatment of captives. (September 5, 2017)
The Financial Regulatory Task Force submitted comments to the U.S. Senate Committee on Banking, Housing, and Urban Affairs on S. 1463, Financial Stability Oversight Council Insurance Member Continuity Act. (August 31, 2017)
The Financial Regulatory Task Force submitted comments to the U.S. Senate Committee on Banking, Housing, and Urban Affairs on S. 1360, International Insurance Capital Standards Accountability Act of 2017. (August 31, 2017)
The Financial Reporting Committee submitted comments to the Public Company Accounting Oversight Board’s (PCAOB) on their proposed amendments to auditing standards for auditor’s use of the work of specialists. (August 29, 2017)
The Financial Regulatory Task Force submitted comments to the U.S. House Financial Services Committee on H.R. 3110, Financial Stability Oversight Council Insurance Member Continuity Act. (July 14, 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 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 Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the Revised Insurance Core Principles (ICPs) and ComFrame material integrated with ICPs’ public consultation package dated March 3, 2017. (May 8, 2017)
The Credit for Reinsurance Subgroup of the Reinsurance Committee released an exposure draft of a new practice note, Credit for Life Reinsurance in U.S. Statutory Financial Statements. (May 5, 2017)
The ERM/ORSA Committee submitted comments to the Actuarial Standards Board (ASB) on its Setting Assumptions exposure draft. (April 27, 2017)
The Financial Reporting Committee (FRC) submitted comments to the International Actuarial Association (IAA) on the exposure draft of its “Risk Adjustments for Financial Reporting of Insurance Contracts under International Financial Reporting Standards No. X” monograph. (February 28, 2017)
The ERM/ORSA Committee submitted comments to the Actuarial Standards Board (ASB) on its Capital Adequacy Assessment for Insurers exposure draft. (January 31, 2017)
The Financial Reporting Committee (FRC) submitted comments to the Financial Accounting Standards Board (FASB) on its proposed accounting standards update, Targeted Improvements to the Accounting for Long-Duration Contracts (Topic 944). (December 14, 2016)
The Financial Reporting Committee released a new white paper on considerations for actuaries in implementing the FASB Short-Duration Contract Disclosures. (December 9, 2016)