The Life Practice Council's Life Underwriting and Risk Classification Work Group sent a letter to the NAIC Life Insurance and Annuities (A) Committee on state regulatory and legislative actions in regards to life insurance underwriting implications of COVID-19. (December 18, 2020)
The Health Solvency Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Health Risk-Based Capital (E) Working Group to provide analysis to incorporate investment income into the existing underwriting risk factors within the health risk-based capital formula. (December 17, 2020)
The Public Plans Committee published an issue brief considering the impact of the COVID-19 pandemic on public pension plans. (December 14, 2020)
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 11, 2020)
Mary Bahna-Nolan submitted a statement to the NAIC's Special (EX) Committee for Race and Insurance, Workstream #4. (December 10, 2020)
Academy volunteers presented at the National Council of Insurance Legislators (NCOIL) Annual Meeting during the Special Committee on Race in Insurance Underwriting’s session. Dorothy Andrews, chairperson of the Data Science and Analytics Committee, presented on behalf of the committee and provided an update on its ongoing work relevant to NCOIL’s examination of these issues. Casualty Vice President Lauren Cavanaugh presented on behalf of the Casualty Practice Council, and Mary Bahna-Nolan presented on the issue from a life perspective. (December 09, 2020)
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 04, 2020)
The Life Practice Council's Asset Adequacy Testing Task Force (AATTF) published a discussion paper titled, Asset Adequacy Testing Considerations for Year-End 2020, for the purposes of raising awareness and summarizing actuarial practices for life financial reporting actuaries involved with asset adequacy testing (AAT) and related activities in 2020’s extreme economic environment. (December 04, 2020)
On December 2, 2020, Cori Uccello, the Academy’s Senior Health Fellow, presented on behalf of the Academy’s Health Equity Work Group (HEWG) at the National Association of Insurance Commissioners’ (NAIC’s) Special (EX) Committee on Race and Insurance, Workstream #5 meeting. Written comments by HEWG chairperson Annette James were also submitted to the special committee highlighting the HEWG’s efforts to facilitate solutions to address health disparities. (December 04, 2020)
The Health Practice Council’s Health Equity Work Group submitted comments to the National Association of Insurance Commissioners (NAIC) highlighting their efforts to facilitate solutions to address health disparities. (December 04, 2020)
The Life Practice Council's Vice President, Laura Hanson, presented an update of LPC activities to the Life Actuarial (A) Task Force (LATF) at the NAIC's 2020 Fall National Meeting. (December 03, 2020)
Lauren Cavanaugh, VP-Casualty, submitted written comments to the U.S. House Financial Services Committee regarding proposed legislation to provide federal government backing for coverage of future pandemic events under Business Interruption insurance. (December 02, 2020)
The Life Practice Council’s Task Force to Review ASOP No. 22 submitted comments to the Actuarial Standards Board on the exposure draft of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life Insurance, Annuity, or Health Insurance Reserves and Other Liabilities. (November 30, 2020)
The Social Security Committee released an issue brief discussing the effects of immigration on the finances of the Social Security program. (December 01, 2020)
The Health Practice Council’s Long-Term Care (LTC) Reform Subcommittee Task Force to Review ASOP No. 22 submitted comments to the Actuarial Standards Board on the second exposure draft of the proposed revision of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life Insurance, Annuity, or Health Insurance Reserves and Other Liabilities. (December 01, 2020)
