Academy News

The Financial Regulatory Reform Task Force responded to the Federal Insurance Office on how to modernize and improve the U.S. system of insurance regulation. (December 11, 2011)

Join the Academy’s Council on Professionalism on Dec. 15 to learn more about the International Actuarial Association and how its activities may affect you as a U.S. actuary. As the global economy affects our own economy and progress, actuaries—regardless of where they live—need to keep up with current international events and stay informed of proposed changes that may affect how they approach their U.S. practice. Click here to learn more.  (December 06, 2011)

The Academy submitted written comments to the International Actuarial Association (IAA) in response to its exposure draft on model International Standard of Actuarial Practice (ISAP) 1–General Actuarial Practice. Mary Frances Miller, then the Academy’s president, advised members in October that the IAA had released its first exposure draft to IAA member associations and individual actuaries for comment. The Actuarial Standards Board (ASB) provided a report to the U.S.-based actuarial associations on the proposed ISAP and also submitted a comment letter that was strongly endorsed by the Academy. To learn more, read the Academy’s comment letter, Miller’s message, and the ASB’s report and comment letter. (December 02, 2011)

Click here to order your copy. The law manual is designed to help appointed actuaries comply with the NAIC annual statement requirements for statements of actuarial opinion. (December 02, 2011)

The Academy announced that Keith Jones is its new general counsel and professionalism director. (November 30, 2011)

Read about the Academy’s Annual Meeting and Awards Luncheon, which featured the ceremonial passing-of-the-gavel to 2012 President Dave Sandberg and election predictions by keynote speaker Nate Silver. Other highlights of this newsletter include a look at the new officers on the Academy’s board of directors, profiles of the 2011 Myers and Farley award winners, and an update on developments in health care reform. (November 30, 2011)

The Academy is creating toolkits designed to provide actuaries in every practice area with the tools necessary to deliver objective information on public policy issues to their own communities. The first in this series of toolkits is on Medicare’s financial condition. The toolkit includes a slide deck that provides an overview of the structure of Medicare, the challenges to the program’s solvency and sustainability, and options that have been proposed to reform the program. Learn more.  (November 23, 2011)

The 2011 Record, A Year in Review, is available online. It includes a summary of the work of more than 1,200 volunteers and documents how the Academy works to fulfill its mission to serve the public and the actuarial profession.  (November 21, 2011)

Membership dues notices have been emailed. Dues remain at the same level as 2011. “Your membership supports the valuable work of the Academy,” Academy President Dave Sandberg wrote in his message to members this week. Members can pay using the individual member link included in the dues notice email or by logging in to the members-only section of the Academy website. Membership dues are due by Jan. 1, 2012.
(November 18, 2011)

The November HealthCheck is available online. Read about the Supreme Court’s announcement that it will hear arguments related to the Affordable Care Act and the House Energy and Commerce Subcommittee’s vote to repeal the Community Living Assistance Services and Supports Act. (November 18, 2011)

President Dave Sandberg outlined his focus for the coming year in his first message to members. (November 11, 2011)

The Academy has received an announcement from the Inter-American Development Bank, which is looking for a pension actuary to assist the IDB with pension plan analysis. One of the qualification requirements is membership in the Academy. If interested, you may find more information here.
(November 04, 2011)

Check out the latest online issue of Contingencies, along with the supplement, Actuarial Software Now.  This issue features a series of articles on expanding long-term care options in a tight economy, as well as a portrait of David Graham Phillips, the muckraking journalist whose once-celebrated novel about financial shenanigans in the insurance industry is now largely forgotten. Articles in the supplement focus on topics such as numerical libraries, cluster-distance sampling, and high-performance computing. 

(November 01, 2011)

The Academy’s Life Practice Council will present a webinar on Nov. 22 to review the NAIC Fall 2011 National Meeting and progress on implementing the Principle-based Approach (PBA) to reserving. This 90-minute webinar also will include updates regarding the VM-20 impact study and NAIC developments on the Own Risk Solvency Assessment (ORSA). Click here to learn more. (October 31, 2011)