The Academy, through its public policy work, seeks to address pressing issues that require or would benefit by the sound application of actuarial principles. The Academy provides unbiased actuarial expertise and advice to public policy decision makers and stakeholders at the state, federal and international levels in all areas of actuarial qualifications. It also advocates on behalf of the profession and promotes the use of actuaries in non-traditional areas.
Public Policy News
The Health Practice Council submitted comments to the U.S. House Committee on Ways and Means regarding its June 12 hearing, "Pathways to Universal Health Coverage."( )
The Academy presented a seminar on Predictive Modeling for regulators attending the NAIC's Insurance Summit in Kansas City.( )
The Academy submitted comments to the NAIC Casualty Actuarial and Statistical (C) Task Force regarding an exposure draft of proposed P/C Statement of Actuarial Opinion Instructions.( )
The ERM/ORSA Committee submitted a comment letter to the Actuarial Standards Board on December 2018 exposure draft of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life or Health Liabilities.( )
The Life Practice Council submitted a comment letter to the Actuarial Standards Board on the December 2018 exposure draft of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life or Health Liabilities.( )
The Academy’s Senior Property/Casualty Fellow Rich Gibson and Assistant Director for Research (Public Policy) Steve Jackson outlined the Actuaries Climate Index and described the proposed Actuaries Climate Risk Index at a meeting of the Casualty Actuaries of Greater New York.( )
The Cyber Risk Task Force has published a new document, Cyber Risk Insurance: A Resource Guide for Actuaries.( )
The Longevity Risk Task Force submitted a comment letter to the NAIC Longevity Risk (A/E) Subgroup on its exposure of a proposed approach to incorporating an RBC charge for longevity risk.( )
The Committee on Property and Liability Financial Reporting sent a comment letter to the NAIC regarding ambiguity in instructions for reporting retroactive reinsurance.( )
The Social Security Committee released an issue brief on the 2019 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( )
The Health Practice Council submitted a letter to the U.S. House Committee on the Budget regarding its May 22 hearing, "Key Design Components and Considerations for Establishing a Single-Payer Health Care System."( )
The Model Risk Management Work Group released a practice note on model risk management.( )
The Health Practice Council submitted a comment letter to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.( )
The Life Practice Council submitted a comment letter to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.( )
The Academy updated its Essential Elements reports on Medicare’s Long-Term Sustainability Challenge and Securing Social Security with information from the newly released 2019 Medicare and Social Security trustees reports. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences.( )
Public Policy Statements
Comments, analysis, or explanatory material prepared for an external audience on behalf of an Academy group or the Academy as a whole; these include letters, memos, reports, and fact sheets.
Analyses of major actuarial or public policy issues written primarily for: policy-makers, regulators, the news media, and the public.
Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for: policy-makers, regulators, the news media, and the public. Includes monographs and white papers.
Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.
The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of Academy practice councils.
Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.
Practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.