Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group presented to the Life Actuarial Task Force on the 2017 simplified issue composite mortality tables report. (August 04, 2017)

Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presented on the guaranteed issue report and amendment proposal forms (APFs) to the Life Actuarial Task Force. The first APF examines implementation of guaranteed issue mortality tables under current requirements; the second APF examines implementation under principle-based reserve requirements. (August 04, 2017)

Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presented on PBR valuation considerations and recommendations related to accelerated underwriting to the Life Actuarial Task Force. (August 04, 2017)

The Intersector Group released the notes of its May 2017 meeting with the Pension Benefit Guaranty Corporation, and the notes of its May 2017 meeting with the Treasury Department and Internal Revenue Service. (August 03, 2017)

The Academy released Auto Insurance in the 21st Century, which explores insurance issues surrounding autonomous vehicles, ride-sharing services, and distracted driving. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences. (August 02, 2017)

Following the Academy’s June professionalism webinar on actuary-to-actuary communication, former Actuarial Board for Counseling and Discipline (ABCD) Chairperson Janet Fagan writes about questions surrounding Precept 10, “Courtesy and Cooperation,” when a principal replaces one actuary with another, and the ABCD’s role in providing guidance. (Actuarial Update, July 2017) (July 31, 2017)

The July Actuarial Update covers the Academy’s recent issue briefs, comment letters, and other work informing the nation’s ongoing health care debate. Also covered: election of regular directors for the Academy’s Board is set for August; the Academy attended the International Association of Black Actuaries conference in late July; the “Professionalism Counts” column on the “ABCDs of Precept 10”; and Pension Committee members visited Capitol Hill to discuss multiemployer plan issues. (July 31, 2017)

The Social Security Committee released an issue brief on the 2017 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program. (July 31, 2017)

The Tax Work Group released an issue brief on the implications of calculating tax-deductible claim reserves based on incurral date versus issue date for long-term disability insurance policies. (July 28, 2017)

The C1 Work Group submitted comments to the NAIC's Investment Risk-Based Capital Working Group (IRBC) on their recent proposal on RBC requirements for real estate. (July 24, 2017)

The Health Practice Council sent a letter to U.S. Senate leadership on the potential adverse consequences of legislation to eliminate the Affordable Care Act’s (ACA) individual mandate which would lead to lower enrollment, a deterioration of the risk pool, and higher premiums. (July 25, 2017)

The P/C RBC Committee and the Health Solvency Subcommittee submitted a joint comment letter to the NAIC’s Investment Risk-Based Capital Working Group expressing concern about proposed changes to corporate bond factors. (July 25, 2017)

The Health Practice Council released a new policy paper highlighting cost-sharing reductions including what they are and why they need to be funded. (July 24, 2017)