The May Actuarial Update lead story covers the Academy’s newly announced nominees for vice president in the practice areas of life, pension, and risk management and financial reporting, and for secretary-treasurer. The issue also covers the recent Actuaries Climate Index webinar; the June deadlines for Academy service award nominations and extra-early discounts for the Annual Meeting and Public Policy Forum; the Casualty Practice Council’s predictive modeling presentations at the NAIC Insurance Summit; and the ‘Professionalism Counts’ column, which looks at professionalism at critical career transition points. (May 31, 2017)

The Solvency Committee submitted comments to the NAIC's Group Capital Calculation (E) Working Group on the group capital calculation and the proposed adjustments for comparability and consistency. (May 26, 2017)

The Casualty Practice Council presented a full-day program on predictive modeling for the National Association of Insurance Commissioners’ Insurance Summit in Kansas City on May 22-26. The program ended with a public policy panel discussion led by Senior Casualty Fellow Jim MacGinnitie. (May 25, 2017)

The Operational Risk Work Group submitted comments to the NAIC on the Life Risk-Based Capital (RBC) operational risk factor. (May 25, 2017)

The Health Practice Council (HPC) sent comments to the Senate Finance Committee on improving the individual health insurance market and changing the approach to Medicaid funding. (May 23, 2017)

The Academy published a new newsletter, Casualty Quarterly, which looks at recent property/casualty news and highlights recent P/C legislation and regulation. The inaugural issue covers issues surrounding the National Flood Insurance Program, which is up for congressional reauthorization in September, the Academy’s recent flood insurance monograph, and more. (May 19, 2017)

The Life Principle-Based Approach Practice Note Work Group released the final practice note, Life Principle-Based Reserves Under VM-20, to assist actuaries with the implementation of the principle-based life reserve valuation approach adopted by the NAIC as detailed in the Requirements for Principle-Based Reserves for Life Products—VM-20. (May 18, 2017)

The Social Security Committee produced an issue brief that discusses gender-related factors that can cause differences to the benefits women and men receive from Social Security. Read the news release.  (May 12, 2017)

The Life Reserves Work Group submitted an amendment proposal form to the National Association of Insurance Commissioners Life Actuarial Task Force regarding the VM-20 wording on modeling of policy loans and separate account assets. (May 12, 2017)

The Pension Committee submitted a comment letter to the IRS and Treasury Department on the projection of benefits under cash balance plans with variable interest credits. (May 12, 2017)

The May HealthCheck covers the Risk Sharing Subcommittee’s issue brief on the health insurance market and risk adjustment; Senior Health Fellow Cori Uccello’s participation in a Capitol Hill forum following the U.S. House passage of the American Health Care Act; recent federal and state health regulatory and judicial updates; and the Health Practice Council’s issue brief on making the individual health insurance market more sustainable. (May 10, 2017)