The Risk Sharing Subcommittee published an issue brief examining the risk adjustment program implemented under the Affordable Care Act (ACA) and the implications for the program under different potential changes to current insurance market rules. (May 10, 2017)
The Stop-Loss Work Group sent comments to the NAIC’s Capital Adequacy (E) Task Force concerning calibration of risk factors in the Stop-Loss Factors Report. (May 09, 2017)
The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the Revised Insurance Core Principles (ICPs) and ComFrame material integrated with ICPs’ public consultation package dated March 3, 2017. (May 08, 2017)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (May 05, 2017)
The Credit for Reinsurance Subgroup of the Reinsurance Committee released an exposure draft of a new practice note, Credit for Life Reinsurance in U.S. Statutory Financial Statements. (May 05, 2017)
The Actuarial Standards Board’s (ASB) 2015 Annual Report is now available. The report highlights the ASB’s accomplishments in 2015, including adoption of two new actuarial standards of practice (ASOPs), including its 50th ASOP, and one revised ASOP, approval of four exposure drafts for comment, and approval of four proposals for new or revised ASOPs. The ASB also approved the Pension Task Force members in March and held a public hearing in Washington, D.C., in July to discuss pension plan issues. (March 23, 2016)
The Actuarial Board for Counseling and Discipline’s (ABCD) 2015 Annual Report is now available. The report highlights the ABCD’s accomplishments in 2015. The ABCD handled 125 cases, comprised of 96 Requests for Guidance (RFGs) and 29 inquiries. The 96 RFGs were the most ever in a year. As of December 31, 2015, the ABCD had 14 inquiries in progress and had completed 15 inquiries during the year. (March 23, 2016)
The Actuarial Board for Counseling and Discipline’s (ABCD) 2016 Annual Report is now available. The report highlights the ABCD’s accomplishments in 2016. The ABCD handled 141 cases, comprised of 108 requests for guidance (RFGs) and 33 inquiries. It provided guidance in response to the 108 RFGs, which broke the record for most in a year that had been set in 2015, and closed 14 inquiry cases. (March 22, 2017)
The Life Reserves Work Group submitted comments on two National Association of Insurance Commissioners' (NAIC) Life Actuarial Task Force proposed amendments to VM-20 – one comment letter related to additional definitions and the other comment letter related to proposed changes to Section 2G. (May 02, 2017)
In Part 2 of the “Professionalism in Action” series, Academy President Bob Beuerlein explores actuary-to-actuary communications, including elements of Actuarial Standards of Practice (ASOPs) No. 1 and No. 41, Precepts 10 and 13 from the Actuarial Code of Professional Conduct, and the Actuarial Board for Counseling and Discipline’s request for guidance process. (Contingencies, May/June 2017) (May 01, 2017)
The Pension Committee (PC) submitted a comment letter to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP), Setting Assumptions. (May 02, 2017)
Wondering which actuarial standard of practice (ASOP) applies to a particular situation? Check the Applicability Guidelines, published by the Academy’s Council on Professionalism, which can help actuaries determine which ASOP applies to the task at hand, including those that apply to every assignment. (Actuarial Update, April 2017) (April 28, 2017)
In the May/June issue of Contingencies, the cover story, “Outer Space for All,” looks at what risks individuals will bear in a new era of commercial spaceflight. Also, “Risk Is Not a Four-Letter Word” looks at how a shift in societal attitudes has changed how we contemplate this integral concept; “How to Survive—and Thrive—Amid Regulatory Change” looks at how companies can adapt to new environments; and “Bayes’ Gift” covers how actuaries discovered (and rediscovered) a powerful analytical tool. And in Part 2 of the “Professionalism in Action” series, Academy President Bob Beuerlein explores professionalism and actuary-to-actuary communications. (May 01, 2017)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (April 28, 2017)
The April Actuarial Update covers the nomination of Shawna Ackerman to be the Academy’s next president-elect, the Casualty Practice Council’s new flood monograph, Academy representation at the National Association of Insurance Commissioners Spring 2017 National Meeting and the International Actuarial Association Meeting, the Enrolled Actuaries Meeting, and a preview of the May 18 Actuaries Climate Index webinar. (April 28, 2017)
