The Committee on Property and Liability Financial Reporting has issued a new public policy paper, An Overview for P/C Insurers' Audit Committees: Effective Use of Actuarial Loss Reserve Expertise. This document replaces an earlier publication on the same subject.  (September 21, 2020)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (September 18, 2020)

The Academy announced the recipients of its two most prestigious annual awards—the Jarvis Farley Service Award and the Robert J. Myers Public Service Award—and four 2020 Outstanding Volunteerism Award recipients. They will be recognized during our virtual Annual Meeting and Public Policy Forum, held Nov. 5–6. Read the news release. (September 17, 2020)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (September 11, 2020)

The NAIC’s Health Risk-Based Capital (E) Working Group approved a request to the Academy’s Health Solvency Subcommittee for Analysis to Incorporate Investment Income into the Underwriting Risk Component of the health risk-based capital (RBC) formula. The working group requested a response from the subcommittee by Oct. 21. (September 11, 2020)

C-2 Mortality Work Group presented an update to the NAIC's Life Risk-Based Capital (E) Working Group reviewing the C-2 overall approach and current risk-based capital (RBC) factors.  (September 11, 2020)

Academy President D. Joeff Williams sent a letter on behalf of the Academy to the National Association of Insurance Commissioners (NAIC) offering comments to NAIC’s Special Committee on Race and Insurance. “It is of the utmost importance for all stakeholders to engage in a public discourse on race, diversity, and inclusion in the insurance sector,” the letter stated. “The Academy especially recognizes the need to acknowledge that there may be retrospective practices that could have a bearing on insurance-based disparities and to examine whether current practices perpetuate or exacerbate those disparities.” While noting the Academy fully shares the special committee’s goals to examine the issues in its charges and work streams, with the committee’s ambitious timeline to conclude its work by year-end, however, Williams wrote that it “may require more time to fully examine the range of issues involved.” He also cited the Academy’s new initiative to study health equity—including a Sept. 14 webinar on the topic—especially those health and health insurance systems in which actuaries are involved, to determine whether they contribute to health disparities. (September 11, 2020)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (September 04, 2020)

The Academy’s Board of Directors has approved the release of an exposure draft of revisions to the currently effective Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS). The comment deadline for the exposure draft is Oct. 30. Click here for the Academy email this week to members, and for information on how to submit comments, click here. (September 02, 2020)

In the September/October issue of Contingencies, the cover story, “Following the Money—The Future of Cash,” takes a look at physical currency, and whether the conventional method of payment may be on the way out. Other features include “On Target—Pursuing the Quadruple Aim in Health Care,” which takes aim at reducing costs in health care; and “Dire Diagnosis,” which asks if Is life underwriting equal to the current moment. Plus, a President’s Message from Academy President D. Joeff Williams on quality at a glance; three aspects of risk intelligence in Commentary, and a climb up a family tree in End Paper. (September 01, 2020)

Six Academy past, present, and future presidents presented at the Aug. 20 professionalism webinar, “In Times of Uncertainty, Professionalism Is Certain,” covering a range of issue from the COVID-19 pandemic to the Code of Professional Conduct and some of the Code’s key precepts. (August 31, 2020)

The August “Professionalism Counts” looks at the Applicability Guidelines for Actuarial Standards of Practice (ASOPs) and how the guidelines are an effective tool to help actuaries determine which ASOPs apply to a given situation. (Actuarial Update, August 2020) (August 31, 2020)

The August Actuarial Update showcases the Academy’s premier annual event, the Annual Meeting and Public Policy Forum, which will be held as a virtual event this year. To make it even more accessible to our members, the price has been cut in half for the Nov. 5–6 event. Also in the issue: coverage of the Aug. 20 professionalism webinar, “In Times of Uncertainty, Professionalism Is Certain”; the Virtual PBR Boot Camp is coming up Sept. 14–17; professionalism and public policy presentations to the NAIC’s Virtual Summer National Meeting; the Academy will host a webinar on health equity issues on Sept. 14; the “Member Spotlight” profiles the Health Practice Council’s Susan Pantely; and the “Professionalism Counts” column looks at the Applicability Guidelines. (August 31, 2020)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (August 28, 2020)

The Committee on Property and Liability Financial Reporting has submitted comments to the NAIC's Actuarial Opinion Working Group, suggesting changes to the wording in the Financial Examiners Handbook. (August 27, 2020)