In response to a letter submitted by the Society of Actuaries (SOA) to the Committee on Qualifications (COQ) earlier this year, the COQ has sent a letter to the SOA regarding their request that the COQ modify Section 3.1.1.2 of the U.S. Qualification Standards at this time to include a reference to the SOA as a provider of property and casualty exams to meet the basic education requirements to sign the NAIC Property and Casualty Annual Statement actuarial opinion. (November 01, 2013)
Read about the Academy's new lunchtime webinar series, policymaker interest in lifetime income, a remembrance of Curtis Huntington, a new infographic on continuing education, NAIC and long-term disability issues, health care receivables webinar, new ASOPs, and Academy presentations on PBR and long-term care. (October 31, 2013)
Registration for the next Academy Capitol Forum webinar is open! The November webinar features speakers from the National Association of Insurance Commissioners (NAIC) and the Academy’s Financial Regulatory Reform Task Force. Presenters will highlight several insurance regulatory developments that are occurring at the state, federal, and international levels—a discussion of ComFrame, global systemically important financial institutions, Solvency Modernization Initiative, Own Risk Solvency Assessment (ORSA), and others. You’ll also receive an overview of many of the key regulatory organizations involved with implementing these regulatory changes. (October 30, 2013)
The Academy’s Committee on Qualifications is pleased to provide a new professionalism tool to help actuaries gain a better understanding of which continuing education requirements apply to them. View the “Which CE Requirements Apply to Me?” infographic. (October 30, 2013)
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. (October 25, 2013)
The International Accounting Standards Task Force submitted a comment letter to the International Accounting Standards Board and a separate comment letter to the Financial Accounting Standards Board on their respective revised exposure drafts of accounting proposals for insurance contracts. (October 24, 2013)
The Academy’s Enterprise Risk Management Committee will outline an iterative framework to implement or enhance the ERM discipline within insurance companies. Presenters will elaborate more on the definition, standards, regulations, and common aspects of ERM that are included in the July ERM practice note, “Insurance Enterprise Risk Management Practices.” (October 25, 2013)
Read about the Pension Benefit Guaranty Corp. deficit, the 2013 Gray Book, longevity, pension-related ASOPs, and Academy comments on various proposed regulations. (October 23, 2013)
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. (October 18, 2013)
Health Solvency Work Group submitted responses to questions from the NAIC's Health Risk-Based Capital Working Group regarding HSWG's model that examines expenses within the context of business risk concentration risk. (October 18, 2013)
The Financial Regulatory Reform Task Force submitted comments to the Financial Stability Board on its paper discussing the application of key attributes of an effective resolution regime to non-bank financial institutions. (October 18, 2013)
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. (October 11, 2013)
The Group Long-Term Disability Work Group sent a final proposed group long-term disability actuarial guideline and final report to the NAIC's Health Actuarial Task Force for exposure with comments due by Oct. 30. (October 11, 2013)
The Life Capital Adequacy Subcommittee sent a comment letter on the double counting of the Asset Valuation Reserve and another one on additional collateral for transactions with unauthorized reinsures to the NAIC Life-Risk Based Capital (E) Working Group. (October 11, 2013)
The P/C Risk-Based Capital Committee submitted comments to the National Association of Insurance Commissioners on the Reinsurance Association of America's discussion draft on reinsurance credit risk. (October 08, 2013)
