The Health Practice Council sent letters to both the U.S. House and Senate on potential adverse consequences of repealing provisions of the Affordable Care Act (ACA) without having a replacement approach in place, and the challenges faced by eliminating the reimbursements to insurers for cost-sharing reduction subsidies. Read the news release. (December 07, 2016)
The ERM/ORSA Committee submitted comments to the NAIC’s Group Solvency Issues (E) Working Group on the Form F Guidance Manual exposure draft. (December 05, 2016)
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. (December 02, 2016)
Ingrained cultural traditions—such as those found in many regions of the nation—can offer insights into developing a professional culture that can be integrated into actuaries’ daily practice, writes Joeff Williams, the Academy’s new vice president of professionalism. (November 30, 2016)
The Principle-Based Reserves Model Governance Practice Note Subgroup of the Principle-Based Reserves Strategy Subgroup released a draft model governance 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 principle-based reserving (PBR). The deadline for comments is Jan. 2, 2017. (December 01, 2016)
The Principle-Based Reserves Checklist Subgroup of the Model Governance Work Group released a model governance checklist, which is offered as a resource for practicing life actuaries involved in actuarial model governance. (December 01, 2016)
The November Actuarial Update has full coverage of the Academy’s Annual Meeting and Public Policy Forum, including plenary and breakout sessions of casualty, health, life, and pension practice areas. Also included is the release of the Actuaries Climate Index; a long-term care (LTC) work group’s release of an LTC issue brief on financing criteria; a webinar on alternative pension costs; and the “Professionalism Counts” column on creating a culture of professionalism. (November 30, 2016)
Laurel Kastrup, the chairperson of the Academy’s Health Financial Reporting and Solvency Committee, testified at a U.S. House Subcommittee on Government Operations hearing on the federal long-term care insurance program. (November 30, 2016)
The Academy, in conjunction with three other actuarial organizations, launched the Actuaries Climate Index (ACI) that provides a quarterly measure of changes in extreme events and sea levels to inform actuaries, public policymakers, and the public about climate trends in the U.S. and Canada. Read the news release. (November 30, 2016)
The LTC Criteria Work Group published an issue brief examining the essential criteria that should be used to analyze long-term care (LTC) financing reform proposals. Read the news release. (November 29, 2016)
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. (November 18, 2016)
Academy Senior Life Fellow Nancy Bennett made a presentation to the National Conference of Insurance Legislators (NCOIL) National Meeting that provides an update and background on the implementation of principle-based reserving (PBR). (November 18, 2016)
Academy Immediate Past President Tom Wildsmith presented on “Developments in Actuarial Professionalism 2016” to more than 250 attendees of the annual meeting of the Actuarial Society of New York on Nov. 9 in New York City. He discussed the basic structures and key elements of U.S. actuarial professionalism, developments in actuarial professionalism, and tools and resources that are available to help actuaries keep up to date on professionalism. Also on Nov. 9, at a meeting of the Actuaries Club of Boston, Academy Secretary/Treasurer and Committee on Qualifications member Tom Campbell delivered a professionalism presentation with a focus on changing, or qualifying for emerging, practice areas as well as the Academy’s U.S. Qualification Standards Attestation Form. Actuarial Board for Counseling and Discipline member David Driscoll spoke at the Actuaries’ Club of Hartford & Springfield in Hartford, Conn., on Nov. 10, the same day that Academy General Counsel and Director of Professionalism Paul Kollmer-Dorsey provided a professionalism update at the Middle Atlantic Actuarial Club’s fall meeting outside of Baltimore. (November 11, 2016)
The AG 43/C-3 Phase II Work Group submitted comments to the Variable Annuities Issues (E) Working Group on the exposed proposal to revise Actuarial Guideline 43 (AG 43) and C-3 Phase II. (November 14, 2016)
The Stop Loss Factors Work Group sent a report to the NAIC Health Risk-Based Capital (RBC) Work Group (E) reviewing the RBC formulas currently used for medical excess of loss business. (November 14, 2016)
