Public Policy

The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on the October 18 exposure of the Generator of Economic Scenarios (GOES) corporate model decision. 

The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on the October 5 exposure of the Generator of Economic Scenarios (GOES) stylized facts and acceptance criteria.

The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on Generator of Economic Scenarios (GOES) gross wealth factors.

The collaborative U.S.-based actuarial organizations’ Intersector Group released notes from its September meetings with the Pension Benefit Guaranty Corporation and the IRS and U.S. Department of the Treasury.

On November 16, 2023, Academy Health Equity Committee chairperson Annette James and member Yi-Ling Lin presented to the Southeastern Actuaries Conference (SEAC) on the importance of health equity and cross-collaboration with various stakeholders. The presentation also highlighted the 2023 workshops and symposium focusing on the intersection of benefit design and health equity.

Derek Jones, chairperson of the Workers’ Compensation Committee, presented on the committee's issue brief, Navigating Workers’ Compensation and Medical Marijuana, during the National Council of Insurance Legislator's Annual Meeting in Columbus, OH. 

Ron Wilkins, chairperson of the P&C Risk-Based Capital Committee, presented to the NAIC Property and Casualty Risk-Based Capital (E) Working Group and the Catastrophe Risk (E) Subgroup on the Academy’s recently released report to the NAIC on P&C Underwriting Factors and Investment Income Adjustment (IIA) Factors.

The Health Equity Committee released an issue brief summarizing its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. 

The Health Equity Committee released the final two issue briefs in its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. How to Better Understand the Needs of the People We’re Trying to Serve explores how to better understand unmet needs and incorporate input from employees and plan members into the benefit design decision-making process, and Overcoming Constraints to Implementation discusses some of the challenges of implementing equity-enhancing benefit plans—and possible solutions. The lessons learned in discussions that led to the four issue briefs will be the topic of a special Health Symposium: Health Benefit Design Innovations for Advancing Health Equity Nov. 15, from 8:15 a.m. to 3:45 EST.

The Health Equity Committee released the final two issue briefs in its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. How to Better Understand the Needs of the People We’re Trying to Serve explores how to better understand unmet needs and incorporate

input from employees and plan members into the benefit design decision-making process, and Overcoming Constraints to Implementation discusses some of the challenges of implementing equity-enhancing benefit plans—and possible solutions. The lessons learned in discussions that led to the four issue briefs will be the topic of a special Health Symposium: Health Benefit Design Innovations for Advancing Health Equity Nov. 15, from 8:15 a.m. to 3:45 EST.

The Social Security Committee released an issue paper, Social Security and Financially Disadvantaged Groups, focusing on how benefits received by different groups are shaped by features of the program interacting with circumstances and trends associated with members of financially disadvantaged groups. The paper also discusses various reform proposals and how they might affect members of certain groups.

Health Care Receivables Factors Work Group member David Quinn provided an update to the NAIC’s Health Risk-Based Capital (E) Working Group on the current and proposed H3 Factors.

The Committee on Property and Liability Financial Reporting (COPLFR) submitted a comment letter to the Actuarial Standards Board (ASB) on the second exposure draft of ASOP No. 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves.

The Health Solvency Subcommittee’s Health Underwriting Risk Factors Analysis Work Group sent a letter updating the NAIC’s Health Risk-Based Capital (E) Working Group (HRBC) on progress on the NAIC’s request to comprehensively review the H2—Underwriting Risk Component and the Managed Care Credit Calculation included in the HRBC formula.

The Committee on Cyber Risk released a new chapter in the Cyber Risk Toolkit, "Personal Cyber: An Intro to Risk Reduction and Mitigation Strategies." The chapter identifies some of the penetration points of cyberattacks from an individual’s perspective and examines how an individual can work to minimize their risk of being hacked.