Professionalism News and Events

Nominations for three different Academy awards are open. The Jarvis Farley Service Award is given to an Academy member who has made an extraordinary contribution to the profession through long-time service as an Academy volunteer. The Robert J. Myers Public Service Award recognizes extraordinary contribution to the public good through service to the government or in the public sphere. And, initiated last year, are the annual Awards for Outstanding Volunteerism to honor Academy volunteers who have made a single, noteworthy contribution above and beyond what is reasonably expected. (April 20, 2012)
The Health Practice Council and the Committee on Qualifications sent a letter to all state insurance commissioners and chairs of each state house and senate insurance committee regarding the appropriate definition of "Qualified Actuary" as it relates to the Affordable Care Act's rate review provision. Under the Affordable Care Act, the Centers for Medicare and Medicaid Services (CMS) is authorized to determine whether health insurance rate increases filed with states are “unreasonable.” As of September 1, 2011 rate increases equal to or greater than 10 percent may be reviewed by states that have been determined by CMS to have an effective rate review program; otherwise, increases in excess of 10 percent will be reviewed by CMS to determine whether such rate increases are “unreasonable.” As a result, many states are in the process of drafting regulatory language that would create their own rate review program. In the past few months, an inconsistency in the definition of “qualified actuary” in some state regulations has come to the attention of the American Academy of Actuaries. The letter provides recommended language regarding the appropriate definition of qualified actuary as states move to implement the Affordable Care Act’s rate review provision. (April 20, 2012)
Presenters John Morris, Kenneth Quintilian, and Sheila Kalkunte provide a refresher on the U.S. Qualification Standards and answer questions from the attendees. (March 14, 2012)
The Committee on Qualifications co-signed a second letter with the health practice council Vice President to the Arizona insurance director stressing its concern that their regulatory definition of “qualified actuary” for health premium rate actuarial certifications was inappropriate and suggested corrective language. (February 10, 2012)
A valuable benefit of Academy membership is free and unlimited access to the Council on Professionalism’s entire—and growing—library of professionalism webinars, which date back to September 2007. Academy members can earn continuing education (CE) credits by listening to these pre-recorded webinars. These credits can be counted toward the annual required three hours of continuing education on professionalism topics, as detailed in the U.S. Qualification Standards (Section 2.2). Click here to see a list of professionalism webinars and to access the links for the recorded presentations and audio files.  (January 26, 2012)
In this webinar, Council on Professionalism members Curtis Huntington and Godfrey Perrott discuss the International Actuarial Association and how its activities potentially affect U.S. actuaries. Presenters also discuss why actuaries should keep up with current international events and stay informed of proposed changes. (December 15, 2011)
The Academy’s Committee on Qualifications sent a letter to the Society of Actuaries in response to their letter raising questions about the qualification requirements for actuaries to change areas of practice under Section 2.1 of the U.S. Qualification Standards. (November 01, 2011)
This professionalism webinar provides both a primer and a refresher course on what the Code means to you as a practicing actuary. During the 90-minute webinar, Council on Professionalism members Kevin Dyke and Karen Smith and Academy Assistant General Counsel Sheila J. Kalkunte discuss the Code’s precepts, what constitutes a violation, and answered questions from participants. (September 21, 2011)
Presenters discuss the actuarial profession’s responsibility to the public, as well as  Precept 1 of the Code of Professional Conduct, the state of the profession, and the key aspects of maintaining the profession's relevance. (June 29, 2011)
The Academy's Council on Professionalism has published a discussion paper entitled Conflicts of Interest When Doing Volunteer Work. This paper is intended to assist current and future Academy volunteers in identifying and resolving potential conflict of interest issues that may arise when providing volunteer services to the Academy. This paper is also incorporated into the revised Academy conflict of interest policy. (January 28, 2011)