Academy volunteers and interested parties must provide annual acknowledgement of their commitment to objectivity and the Academy’s Conflict of Interest (COI) Policy and continuing education requirements, writes Art Panighetti, vice president of the Council on Professionalism. (Actuarial Update, January 2019)
The Life Reinsurance Work Group provided comments to the NAIC's Life Actuarial (A) Task Force regarding the possible impact of varying interpretations of current VM-20 guidance for determination of future nonguaranteed yearly renewable term reinsurance rates.
The LTC Practice Note Work Group published an exposure draft of a practice note to provide a source of information to practicing long-term care (LTC) actuaries seeking to better understand the considerations in evaluating experience, setting assumptions, valuation, and financial reporting.
In the January Actuarial Update, read about the Academy representatives who attended and presented at Canada’s Actuarial Students’ National Association meeting in Montreal this month.
The winter Life Perspectives has a Q&A on the principle-based reserve (PBR) practice note released this month with Linda Lankowski, vice chairperson of the Academy’s Life Practice Council (LPC) and chairperson of the PBR Strategy Subgroup and its Practice Note Work Group and PBR 101 Work Group. Also included are legislative and regulatory updates and LPC comment letters to the NAIC.
The PBR Assumptions Resource Manual Work Group released a step-by-step, sample framework for setting, updating, and governing life insurance assumptions for PBR and other valuation frameworks.
Academy Senior Property/Casualty Fellow Rich Gibson submitted comments to the NAIC's Casualty Actuarial and Statistical Task Force (CASTF) regarding CASTF’s proposed white paper on Regulatory Review of Predictive Models.
