It’s time once again to nominate a deserving colleague or respected mentor for one of the Academy’s prestigious annual awards, either for public service or for a lifetime of service to the actuarial profession and the Academy, as described below.
The Robert J. Myers Public Service Award honors an actuary who made an exceptional contribution to the common good, specifically through a single noteworthy public service achievement or a career devoted to public service.
The Jarvis Farley Service Award is a lifetime achievement award presented to an actuary whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession through a lifetime of service.
The Outstanding Volunteerism Award honors Academy volunteers who have made a single, noteworthy volunteerism contribution in the past year.
The deadline for nominations is June 30, and the awards will be presented at the Academy’s Annual Meeting and Public Policy Forum Nov. 14–15 in Washington. (April 25, 2017)
It’s time once again to nominate a deserving colleague or respected mentor for one of the Academy’s prestigious annual awards, either for public service or for a lifetime of service to the actuarial profession and the Academy, as described below.
The Robert J. Myers Public Service Award honors an actuary who made an exceptional contribution to the common good, specifically through a single noteworthy public service achievement or a career devoted to public service. The Jarvis Farley Service Award is a lifetime achievement award presented to an actuary whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession through a lifetime of service. The Outstanding Volunteerism Award honors Academy volunteers who have made a single, noteworthy volunteerism contribution in the past year. The deadline for nominations is June 30, and the awards will be presented at the Academy’s Annual Meeting and Public Policy Forum Nov. 14–15 in Washington. (April 25, 2017)In a four-part series in Contingencies, Academy President Tom Wildsmith examines the infrastructure of actuarial professionalism and how the Academy is instrumental in supporting that infrastructure and the U.S. actuarial profession. Wildsmith terms this infrastructure a “web of professionalism,” and the series explores how the Academy developed these foundational documents and bodies to provide the professionalism framework for the profession. The series was redesigned as a standalone publication. Read it here. (April 27, 2017)
In a four-part series in Contingencies, Academy President Tom Wildsmith examines the infrastructure of actuarial professionalism and how the Academy is instrumental in supporting that infrastructure and the U.S. actuarial profession. Wildsmith terms this infrastructure a “web of professionalism,” and the series explores how the Academy developed these foundational documents and bodies to provide the professionalism framework for the profession:
The Code of Professional Conduct binds Academy members to the highest standards of conduct, recognizing that all members have a moral responsibility to all the many people who may depend on their work. The U.S. Qualification Standards provide actuaries with the guidance needed to meet the ethical obligation to practice competently and responsibly. Through the Actuarial Standards Board, the Academy has promulgated 50 actuarial standards of practice covering all areas of actuarial practice. Through the Actuarial Board for Counseling and Discipline, the Academy provides the basic disciplinary framework for the profession. “The Academy was founded so that the U.S. actuarial profession could earn the public’s trust,” Wildsmith writes. “Our primary mission is to ensure that U.S. actuaries—both individually and collectively—provide the public with the professionalism it deserves.” The series was redesigned as a standalone publication. Read it here. (April 27, 2017)The ERM/ORSA Committee submitted comments to the Actuarial Standards Board (ASB) on its Setting Assumptions exposure draft. (April 27, 2017)
The Premium Review Subgroup submitted comments to the Center for Consumer Information and Insurance Oversight on the final 2018 unified rate review template (URRT) instructions. (April 27, 2017)
The Casualty Practice Council submitted a comment letter on the ASB's third exposure of the proposed Actuarial Standards of Practice (ASOP), Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk Funding. (April 27, 2017)
The Health Practice Council published an issue brief examining ways in which the individual health insurance market can be strengthened and made more viable. Read the news release. (April 24, 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 21, 2017)
The Principle-Based Reserve (PBR) Model Governance Practice Note Work Group released a new practice note to provide additional information for practicing life actuaries seeking to better understand models, model risks, model governance, and related issues, as these actuaries implement PBR. (April 20, 2017)
The Flood Insurance Work Group released a new public policy monograph, The National Flood Insurance Program: Challenges and Solutions. The monograph provides objective information to policy makers on differing approaches to premium setting and program financing, including both public and private financing mechanisms. It also examines improvements in flood risk assessment and modeling that are reducing the uncertainties surrounding flood coverage and could lead to greater market participation by private insurers and reinsurers. Read the news release. (April 19, 2017)
The Pension Practice Council sent a letter to Congressional leaders on pension-related revenue offsets. (April 18, 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 14, 2017)
The April HealthCheck covers the Academy’s responses to recent Affordable Care Act and American Health Care Act legislative activity; the Medicaid Funding Work Group’s issue brief on proposed Medicaid funding approaches; Academy health presentations at the NAIC Spring 2017 National Meeting in Denver; and the March 24 global health webinar on long-term care approaches in the United States and Germany. (April 12, 2017)
Tricia Matson, chairperson of the Longevity Risk Task Force, presented an update on efforts to develop a methodology for recognizing longevity risk in statutory reserves and risk-based capital (RBC) to the NAIC's Life RBC Working Group. (April 08, 2017)
