Academy News

The Academy’s Life Practice Council will present a webinar to review the NAIC Spring 2012 National Meeting and progress on the principle-based approach (PBA) to life reserves. The webinar will include updates on AG 38, Contingent Deferred Annuities, ORSA, new simplified mortality assumption for VM-20, and the activities of the Life Actuarial Task Force. Learn more. (March 09, 2012)

If you missed the March 7 webinar on lifetime income, you can download the slides for free or order a recording of the webinar for a small fee. Noel Abkemeier and Tonya Manning, co-chairpersons of the Academy’s Joint Lifetime Income Risk Task Force, provided an overview of the risks of inadequate lifetime income, current options to address the risks, and the range of policy solutions to help retirees better prepare for managing lifetime retirement needs. Tom Terry, chairperson of the Public Interest Committee, also announced new Academy initiatives underway to advance the discussions surrounding longevity risk. (March 07, 2012)

Read articles on Solvency II, leadership traits for chief risk officers, building a better mortality model to manage longevity risk, and more. Also in March/April is the Actuarial JobSeeker supplement.  (March 01, 2012)

Read about recent health care reform activities in the latest edition of HealthCheck.  (February 29, 2012)

Read about the Academy’s recent activities in the latest edition of the Actuarial Update.  (February 28, 2012)

Read about the Academy’s public policy activities in the pension arena in the latest edition of the Retirement Account.  (February 27, 2012)

The Academy presented to the National Conference of Insurance Legislators on its comments to the Federal Insurance Office regarding insurance modernization in the U.S. system. (February 24, 2012)

The ASB recently approved an exposure draft of the newly revised Introduction, now titled Introductory Actuarial Standard of Practice. Comments are due by May 31, 2012. Click here to read the exposure draft.  (February 17, 2012)

As an actuary, it’s imperative for you to understand the U.S. Qualification Standards and how to maintain compliance with these standards if you provide statements of actuarial opinion in the United States. Join the Council on Professionalism on March 14 for a refresher on the U.S. Qualification Standards and an in-depth look into the more complicated aspects relating to qualifications and practicing U.S. actuaries, including changing practice areas and emerging practices. Panelists also will provide clarification about certain key provisions of the standards and take your questions live during this 90-minute webinar. Learn more.  (February 16, 2012)

Click here to download slides from the Feb. 10 webinar: The Affordable Care Act—What Every Actuary Should Know. Presenters David Shea, Shari Westerfield, and Tom Wildsmith provided an overview of health insurance expansion and market reform provisions in the ACA. They also detailed the current status of implementation and how the Academy has been involved in the development of proposed rules and regulations implementing the law. In addition, the presentation and the Q&A with attendees covered the Academy’s Jan. 27 amicus curiae brief filed with the U.S. Supreme Court in the pending challenge to the ACA. This webinar is part of an ongoing effort by the Health Practice Council to help all actuaries stay informed on the latest developments in health reform.  (February 13, 2012)

The Academy jointly sponsored a webinar with the Society of Actuaries, Medical Loss-Ratios—Final Regulations and Repercussions for the Health Insurance Marketplace. The Feb. 8 webinar was a timely, detailed discussion for practitioners of the rules governing medical loss ratio standards. More than 225 actuaries attended the webinar. To learn more and order the webinar, visit the SOA webinar page. (February 13, 2012)

The Committee on Qualifications co-signed a second letter with the health practice council Vice President to the Arizona insurance director stressing its concern that their regulatory definition of “qualified actuary” for health premium rate actuarial certifications was inappropriate and suggested corrective language. (February 10, 2012)

Register now to learn more about the concepts underlying risk classification as it is applied in all actuarial practice areas. The webinar will be based on the Academy’s Risk Classification Work Group’s monograph, On Risk Classification, published in November 2011, which updates the 1980 Risk Classification Statement of Principles. Learn more. (February 07, 2012)

The Academy was cited several times during the Feb. 1 debate on the floor of the U.S. House of Representatives on the repeal of the CLASS Act (the long-term care program included in the Affordable Care Act). Log in to read the health Alert reporting on the House repeal of the program. (February 02, 2012)

Read about the Academy’s recent activities in the latest edition of the Actuarial Update. (January 31, 2012)