The latest issue of the Enrolled Actuaries Report features coverage of the Academy’s joint webinar with the Institute and Faculty of Actuaries (U.K.) on a retirement readiness report by the two organizations along with the Actuaries Institute of Australia; pension breakout sessions at next month’s Annual Meeting and Public Policy Forum; an issue brief following the release of this year’s Social Security Trustees Report; a Capitol Hill Pension Briefing on multiemployer plan issues; and an issue brief on measuring pension plan health. (October 20, 2017)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC’s Life Insurance Buyer’s Guide (A) Working Group regarding the Life Insurance Buyer’s Guide Discussion Draft. (October 19, 2017)
The Committee on Property and Liability Financial Reporting sent a comment letter to the NAIC's Actuarial Opinion Working Group on the possible effects of recent life insurance Valuation Manual changes on Statements of Actuarial Opinion of P/C insurers whose reports include accident and health (A&H) or long-term care (LTC) lines of business. (October 18, 2017)
After the Trump administration’s decision to immediately end CSR reimbursements, the Health Practice Council urged Congress to help stabilize the individual health insurance market by permanently appropriating the payments. Read the news release. (October 13, 2017)
The Life Reinsurance Work Group sent comments to the NAIC's Statutory Accounting Principles (E) Working Group on exposure draft 2017-28 relating to “Reinsurance Risk Transfer”. (October 13, 2017)
The C1 Work Group sent comments to the NAIC’s Investment Risk-Based Capital (E) Working Group on capital requirements for bonds. (October 10, 2017)
President Trump’s health care executive order issued today has potential risks and consequences for consumers and insurance markets that need to be well understood and addressed before the departments of Labor, Treasury, and Health and Human Services issue any regulations pursuant to it, the Academy cautioned in a news release. (October 12, 2017)
The October HealthCheck covers the Health Practice Council’s letter U.S. Senate leadership on last month’s proposed health care legislation; Senior Health Fellow Cori Uccello’s quotes in several news stories on the ongoing attempts to reform the Affordable Care Act; and state legislative and regulatory updates; and announces the Academy’s Nov. 10 webinar on end-of-life care. (October 11, 2017)
The Academy, the Institute and Faculty of Actuaries (U.K.), and the Actuaries Institute of Australia today published Retirement Readiness: A Comparative Analysis of Australia, the United Kingdom, and the United States, showing that people in the three countries struggle with planning for retirement because they often aren’t equipped to address complex questions. Recommendations in the report include targeted financial education, greater use of default features in private retirement plans, and ensuring that public pension and social insurance systems are sustainable and capable of providing adequately for those who depend on them most. Read the news release. The audio and slides are also available. (October 12, 2017)
The fall StateScan Quarterly highlights state legislation in the past quarter related to auto insurance, extreme events, Medicaid, long-term care, and public pension plans. For a more comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members. (October 02, 2017)
Quarterly ACI data released today show extreme weather events continue to increase across Canada and the United States, with the index value reaching a new high in winter 2016-17. Read the news release. (October 05, 2017)
The Committee on Property and Liability Financial Reporting submitted a comment letter to the NAIC’s Statutory Accounting Working Group, expressing concerns over a proposed new definition of reinsurance risk transfer in SSAP No. 62R: Property and Casualty Reinsurance. The letter says that the proposal needs further study and evaluation. (October 04, 2017)