The Academy's President-elect Bruce Schobel remarked on the need to address Social Security's financial challenges sooner rather than later and discussed the Academy's proposal to include a later retirement age as part of any reform package.
The Academy's Property and Casualty Extreme Events Committee Co-chairperson Shawna Ackerman discussed the hurricane insurance market heading into the 2009 hurricane season. Ackerman said that she was unaware of any mass non-renewals or existing policy changes that are in the works for 2009.
The Academy's Life Financial Soundness/Risk Management Chairperson Donna Claire provided a positive reaction to the National Association of Insurance Commissioners Life and Health Actuarial Task Force's decision to adopt a revised Standard Valuation Law model for principle-based reserving.
Dear colleague,
