The Casualty Practice Council submitted a comment letter to the Actuarial Standards Board (ASB) on the second exposure draft of ASOP No. 29, Expense Provisions in Property/Casualty Insurance Ratemaking.

The actuarial profession is rare in that it has, for the most part, successfully remained self-regulated. Decades ago, actuaries established standards for conduct, qualifications, and practice, as well as a means for enforcing them. Professional judgment must be exercised with skill and care to maintain the trust of the public, of principals, and of government entities.

The Social Security Committee released Highlights from the 2023 Social Security Trustees Report, a one-pager detailing the latest annual report on the current and projected financial status of the trust funds.

The Committee on Property Liability and Financial Reporting (COPLFR) submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Casualty Actuarial and Statistical (C) Task Force proposing a modification to the Annual Statement blank that would eliminate the distinction between “short-tailed” and “long-tailed” lines of business in Schedule P.

The Committee on Property Liability and Financial Reporting (COPLFR) and the Health Practice Council’s Committee on Financial Reporting and Solvency submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Blanks Working Group on proposed exposure to add instructions for the appointed actuary and qualified actuary contacts to the Jurat electronic only section in order to address any actuarial questions.