This Week, Feb. 19-23, 2018

Read the latest news from the Academy.

Recent Academy Activity, Feb. 19–23, 2018

Registration Open for Life and Health Qualifications Seminar

Registration has opened for the Academy’s 2018 Life and Health Qualifications Seminar, to be held Nov. 4–8 in Arlington, Va. This annual and highly regarded event delivers an agenda full of training and instruction, equipping you with the knowledge you need to gain necessary qualifications or relevant CE you may need to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement.

Attendees can earn up to 27 hours of continuing education credit, including up to 2.7 professionalism hours. Only 100 seats are available for this seminar—register today for the lowest rates and to secure your space.

Academy Presents at NAIC Hearing

Arnold Dicke, chairperson of the Academy’s Reinsurance Committee, participated in the NAIC’s public hearing in New York City on Tuesday on the Bilateral Agreement between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance, also known as the “covered agreement,” which was signed Sept. 22, 2017. The hearing included discussions on how the NAIC and states can address the challenge of refining the current solvency system. Dicke cited the Academy’s practice note, Credit for Life Reinsurance in U.S. Statutory Financial Statements, released earlier this month.

Professionalism Outreach

Actuarial Standards Board (ASB) member Darrell Knapp gave a presentation to the Actuaries Club of Iowa on Tuesday on the proposed actuarial standard of practice (ASOP) on setting assumptions. The presentation reviewed the ASB standard-setting process and discussed the approaches taken and concepts used in the draft ASOP, and Knapp encouraged attendees to engage in the process by submitting comments on exposure drafts.

Order Today—Academy Law Manuals Available

The latest editions of the Life and Health Valuation Law Manual and the Property/Casualty Loss Reserve Law Manual are available.

  • The Life and Health Valuation Law Manual is designed to help appointed actuaries know the requirements of the NAIC model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation. Order today.

  • The Property/Casualty Loss Reserve Law Manual is designed to help appointed actuaries know the NAIC Annual Statement requirements for statements of actuarial opinion. Order today.

Both manuals are available in a variety of formats, allowing you to select the version that best suits your needs.

Public Policy Activities

  • Multiemployer Plans Committee members met Friday with the Pension Benefit Guaranty Corporation in Washington, D.C., to discuss the status of Multiemployer Pension Reform Act applications and other issues related to multiemployer pension plans.

  • Senior Pension Fellow Ted Goldman and Assistant Director for Research (Public Policy) Steve Jackson presented Wednesday to the Savings and Retirement Foundation in Washington, D.C., on the Academy’s October 2017 joint report on retirement readiness comparing the retirement systems of the United States, United Kingdom, and Australia.

  • The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC’s Life Insurance Buyer’s Guide (A) Working Group on the revised draft for the Life Insurance Buyer’s Guide.

  • The Life Reserves Work Group submitted an amendment proposal form to the NAIC’s Life Actuarial (A) Task Force on potential changes to VM-20 on the aggregation of mortality segments for the purpose of determining credibility.

Upcoming Events

In the News

  • Yahoo News, Yahoo Finance, The Mighty, and Health Affairs Blog articles on newly proposed regulations for short-term limited-duration insurance cited the Health Practice Council’s Nov. 7 letter to the secretaries of the U.S. Labor and Treasury departments and the acting secretary of the Department of Health and Human Services.

  • A CT Mirror story cited the Individual and Small Group Markets Committee’s Feb. 9 comment letter to the U.S. Department of Labor regarding how to model the impact of association health plans (AHPs).

  • A HealthPayer Intelligence story on Idaho’s decision to allow non-ACA-compliant plans cited an Academy public statement addressing AHP risks issued ahead of last month’s State of the Union speech.


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