November 15-18, 2021 | Crystal Gateway Marriott, Arlington, Va.
“This seminar overall gave me an excellent source of information to better perform the actuarial review of an annual statement. I consider it critical for all candidates with the intention to complete the actuarial opinion of an annual statement.” – Previous seminar attendee
Do you meet the basic and continuing education requirements of Section 3 of the U.S. Qualification Standards to issue actuarial opinions for the NAIC Life or Health Annual Statements?
The Academy’s Life and Health Qualifications Seminar delivers three days of training and instruction, equipping you with the knowledge you need to gain necessary qualifications to issue actuarial opinions for either the NAIC Life and Accident & Health (A&H) Annual Statement or the NAIC Health Annual Statement.
Register early, as seating is limited.
The Academy offers this seminar each year to instruct and test actuaries on the basic education subjects required by the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS) to allow them to qualify to sign the NAIC Life and A&H Annual Statement (Blue Blank) and/or NAIC Health Annual Statement (Orange Blank). It also can serve as a basic education refresher or as a source of required continuing education for more experienced actuaries.
Seminar sessions include topics such as:
- Asset adequacy testing
- Actuarial opinions
- Cash flow testing
- Statutory insurance accounting
- Life insurance
- Valuation and nonforfeiture requirements
- Overview of health insurance
- Health claim reserves and health insurance valuation topics
- Premium, loss, expense, and contingency reserves
- Principle-based reserving (PBR)
- Risk-based capital
- Actuarial professionalism
Who Should Attend?
Actuaries who may not meet the qualifications for signing the actuarial opinions for the NAIC Life and A&H Annual Statement (Blue Blank) and/or NAIC Health Annual Statement (Orange Blank) under the USQS, including:
- Fellows who completed the exam process between 2000 and 2006
- Actuaries who have not otherwise satisfied the basic education and specific knowledge requirements of the Specific Qualification Standards of the USQS
- Actuaries who intend to change their practice area to sign NAIC life or health actuarial opinions
- Actuaries who are looking for continuing education in compliance with the Specific Qualification Standards of the USQS
- Actuaries who wish to learn about life and health statutory requirements
- Regulators who wish to learn about life and health actuarial topics or simply augment their knowledge
- Foreign actuaries who intend to practice in the United States (who must also meet the general qualification of the USQS)
Please note: Attendees will receive the seminar slides and reading materials for the course sessions only in an electronic format—no hard copies will be available at the event.
You will also receive a textbook that will be shipped to you in advance. Contact LHQquestions@actuary.org if:
- You are a repeat attendee and already have the textbook.
- You would like the textbook to be sent to an alternate mailing address. Otherwise, the textbook will be mailed to the address that you have associated with your account.
|Fee (Includes Reading Materials)||Member||Nonmember||Government|
|Early (Ends July 31, 2021)||$2,000||$2,350||$950|
|Regular* (Ends Oct. 29, 2021)||$2,200||$2,550||$950|
|Reading materials ONLY
* Regular registration may be extended if space allows.
If you must pay by check, please contact LHQquestions@actuary.org for registration information.
The American Academy of Actuaries believes in good faith that this event constitutes an Organized Activity as defined in the U.S. Qualification Standards and that, by attending the first three days of the seminar, you may earn the following minimum continuing education credit hours for attending the first three days of the seminar, using a 50-minute credit hour formula:
- 6.6 (general, applicable to life or health specialty)
- 8.7 (additional life specialty)
- 9.0 (additional health specialty)
- 2.7 (professionalism)
The seminar will be held at the Crystal Gateway Marriott in Arlington, Va., starting at 8 a.m. Monday, Nov. 15 and running to 11:30 a.m. Thursday, Nov. 18. The Academy has secured a special room rate of $229 per night (maximum 4 guests per room), plus tax, for the nights of Nov. 14-17. This rate is available through Oct. 18 or until the room block is full.
To make your reservation, either click here or call 1-800-228-9290. Be sure to mention the Academy’s Life and Health Qualifications Seminar when making your reservation. Reservations must be guaranteed by a major credit card.
When making your travel arrangements, note that early registration begins Sunday evening, Nov. 14, from 6-8 p.m., and that the opening session will start promptly at 8 a.m. on Monday, Nov. 15. Attendees are strongly encouraged to check in on Sunday.
Specific Knowledge Requirement of the USQS Specific Qualification Standards.
Actuaries wishing to issue a statement of actuarial opinion under the Specific Qualification Standards (Section 3 of the USQS) must, among other requirements, “be knowledgeable, through examination or documented professional development, of the Law (i.e., statutes, regulations, judicial decisions, and other statements of legally binding authority) applicable to the Statement of Actuarial Opinion.” To meet the additional Specific Qualification Standard, which applies to reserve opinions for the NAIC Annual Statement Blanks, an actuary must obtain, through examination or alternative education, specific knowledge in the following topical areas*:
Life and A&H (Blue Blank)
(Covered by Exams ILA-DP-US, ILA-CSP-US)
- Policy forms and coverages
- Investments and valuations of assets, and the relationship between cash flows from assets and related liabilities
- Dividends and reinsurance
- Statutory insurance accounting
- Valuation of liabilities
- Valuation and nonforfeiture laws
Health (Orange Blank)
(Covered by Exams GH-DP, GH-CSP)
- Principles of insurance and underwriting
- Principles of ratemaking
- Statutory insurance accounting and expense analysis
- Premium, loss, expense, and contingency reserves
- Social insurance
(*Actuaries wishing to issue these statements of actuarial opinion must also meet the basic education and experience requirement of the General Qualification Standard (USQS, Section 2.1) For more information, see the USQS which is available at actuary.org/files/imce/qualification_standards.pdf).
The seminar will be taught by recognized industry experts, including:
- Rhonda Ahrens, Life & Health Examiner, Nebraska Department of Insurance
- Donna Claire, President, Claire Thinking Inc.
- David Dillon, Sr. VP and Principal, Lewis & Ellis, Inc.
- Brian Jackson, Director of Professionalism and General Counsel, American Academy of Actuaries
- Darrell Knapp
- Craig Morrow, VP And Actuary, Talcott Resolution
- David Neve, Chief Actuary, Global Atlantic Life & Annuity
- Sheldon Summers, Actuary, Claire Thinking Inc.
- D. Joeff Williams, Consultant, Actuarial Management Resources
Cancellations should be made via e-mail to LHQCancellation@actuary.org. The Academy will refund the registration fee (as well as the $600 reading materials fee, if the reading materials have not yet been sent to the registrant), minus $100 for administrative fees, if the Academy receives a written request for a refund by Oct. 25.
If a written request for a refund is received after Oct. 25 and before Oct. 31, the Academy will refund the registration payment (but not the $600 reading materials fee), minus $200 for administrative fees.
No refunds will be given for cancellations made after October 31, 2021.
The Academy is mindful of the concerns regarding emergence of new strains of the global pandemic. As of the current date, it is not expected that there will be restrictions imposed by the Commonwealth of Virginia or the District of Columbia that would affect our ability to hold this meeting solely in person. Of course, if that situation were to change, the Academy will respond appropriately, as we did in 2020.
The Academy reserves the right to cancel the seminar if conditions warrant. In the event of such cancellation, registration fees will be refunded. The Academy will not be held liable for any airline or other costs that candidates might incur as a result of a seminar being canceled.
Back to top
For additional information, please contact LHQquestions@actuary.org.