Academy News

Read this issue to learn about a recent court ruling on the individual mandate requirement in the Affordable Care Act and proposed rules relating to health exchanges and group health plans released by the Department of Health and Health and Human Services.

(August 31, 2011)

Due to the Friday's cancellation of the NAIC Summer 2011 National Meeting in Philadelphia, the Academy has cancelled the Post-NAIC Update/PBA webinar on Sept. 8. Registrants will receive a full refund within two weeks (in the same manner as paid). If you do not receive your refund within this time frame, please email Gabriel Swee at
(August 31, 2011)

Polls will remain open until 11:59 p.m. ET on Sept. 2 and all Academy members (active as of July 14, 2011) are eligible to vote in this election. If you have not received an email (or paper) ballot, you may request a replacement ballot by emailing For more information on the election, visit the Academy's Election Center.

(August 31, 2011)

Want to learn more about principle-based approach (PBA)? The Academy has been instrumental in the ambitious effort to modernize the framework for determining life insurers' statutory required capital and reserves in the United States. The proposed method, which is intended to be principle-based, uses risk analysis and risk management techniques to capture underlying life insurance and annuity risks more accurately than the current rule-based, one-size-fits-all approach. Learn more! (August 31, 2011)

In a letter to the U.S. Treasury Department, Academy President Mary Frances Miller urged Treasury officials to ensure that the proposed Federal Advisory Committee on Insurance includes individuals with direct actuarial expertise. (August 02, 2011)

Read about the Academy's recent activities in the latest edition of the Actuarial Update. (July 31, 2011)

Read about recent health care reform activities in the latest edition of HealthCheck. (July 29, 2011)

Presenters discuss the actuarial profession’s responsibility to the public, as well as  Precept 1 of the Code of Professional Conduct, the state of the profession, and the key aspects of maintaining the profession's relevance. (June 29, 2011)

The Medicare Steering Committee released a new issue brief that summarizes the key cost, access, and quality issues associated with some of the Medicare-related provisions in the various debt and deficit reduction proposals. (May 31, 2011)

The Academy's Council on Professionalism has published a discussion paper entitled Conflicts of Interest When Doing Volunteer Work. This paper is intended to assist current and future Academy volunteers in identifying and resolving potential conflict of interest issues that may arise when providing volunteer services to the Academy. This paper is also incorporated into the revised Academy conflict of interest policy. (January 28, 2011)

The Health Practice Council co-signed a second letter with the Committee on Qualifications Chair 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. ()

At the NAIC Fall 2012 National Meeting the Nonforfeiture Modernization Work Group presented to the Life Actuarial Task Force based upon its report outlining Guaranteed Nonforfeiture Basis Factor Assumptions.  ()

At the NAIC Fall 2012 National Meeting in National Harbor, MD the Deposit Fund Subgroup presented to the Life Actuarial Task Force based upon its report outlining a proposal for reserving synthetic guaranteed income contracts. ()

The Annuity Reserve Work Group delivered a report to the Life Actuarial Task Force proposing the modification of Actuarial Guideline 33 as a solution to reserving for guarantee living income benefits. ()

The Invested Asset Work Group commented on the American Council of Life Insurers’ Commercial Mortgage Risk-based Capital (RBC) Proposal in a letter to the NAIC’s Life RBC Working Group. ()