Annual Meeting and Public Policy Forum Is Right Around the Corner
The Academy’s Annual Meeting and Public Policy Forum is less than two weeks away. Bring your public policy and professionalism questions to the Nov. 5–6 virtual event to get answers from policymakers, leading experts, and your actuarial colleagues. The agenda provides opportunities for you to engage with speakers throughout this compact and efficient two-day event. Online registration is available until Nov. 4—make this your year to experience the history that’s in the making and register today.
Featured presentations include:
Insights from nonpartisan political analyst Charlie Cook and presidential historian Michael Beschloss, just days after Election Day.
Lessons learned from and the prospects for treatments and vaccines for COVID-19—with the latest thinking from Anand Parekh, the Bipartisan Policy Center’s chief medical advisor.
An address by National Association of Insurance Commissioners President-Elect and Florida Insurance Commissioner David Altmaier, in which he will discuss the NAIC’s diversity and equity initiative and other work of the NAIC during this challenging period.
Wisdom and courage seen in past crises, with insights from Sheila Bair, past chairman of the Federal Deposit Insurance Corporation, brings attention to the fundamental elements of actuarial professionalism—particularly the Code of Professional Conduct—as a decision-making framework to approach the uncertainty we are all experiencing.
Practice-specific sessions with panels of key stakeholders discussing wide-ranging issues such as the impact of the pandemic on health, P/C, and life insurance; prospects for the future of retirement security and Social Security; cyber risk; and Pension Benefit Guaranty Corporation solvency.
Attendees will have opportunities to earn valuable continuing education (CE), including professionalism CE, and continuing professional education (CPE) under Joint Board for the Enrollment of Actuaries (JBEA) rules. Don’t miss out on this chance to experience our objective, independent, and efficient approach to the matters that should be in the forefront of our profession. Register today.
Next Week—‘Tales From the Dark Side’ Professionalism Webinar: New Student Option
Join the Academy next Friday, Oct. 30, for our third professionalism webinar of the year, “Tales From the Dark Side: Trick or Treat!” Highly popular and well-attended in each of the past three years, this latest iteration explores examples of ethical problems based on cases and requests for guidance that have been brought before the Actuarial Board for Counseling and Discipline (ABCD). Attendees can earn up to 1.8 CE credits and 1.8 core ethics CPE credits under JBEA rules. The webinar will be held from 1 to 2:30 p.m. EDT. Register today.
Student Rates: The Academy is now offering a student rate—$5—for undergraduate and graduate students who are not credentialed actuaries.
ASB Approves Two Exposure Drafts
The Actuarial Standards Board (ASB) of the Academy recently approved an exposure draft of a revision of Actuarial Standard of Practice (ASOP) No. 38, now titled Catastrophe Modeling (for All Practice Areas). The ASOP provides guidance to actuaries when performing actuarial services with respect to selecting, using, reviewing, or evaluating catastrophe models. The comment deadline for the third exposure draft is Jan. 15, 2021.
The ASB also approved a third exposure draft of a proposed ASOP titled Setting Assumptions. The ASOP provides guidance to actuaries when performing actuarial services that involve setting assumptions, giving advice on setting assumptions, or assessing the reasonableness of assumptions set by others. The comment deadline for the third exposure draft is April 15, 2021.
Information on how to submit comments using the new comment template can be found in both exposure drafts.
New Report Examines International Health Care Funding
The Academy’s Health Practice International Committee (HPIC) on Friday posted the International Health Care Funding Report. This report is the first iteration of a project intended to be an illustration of international models of health care funding and reflects the state of 36 health funding systems from around the world as of Dec. 31, 2019. The report is a joint effort of volunteers of the HPIC, the International Actuarial Association Health Section, and the Society of Actuaries International Section.
Reminder—USQS Exposure Draft Comments Due Next Friday
Don’t forget to review and comment on the exposure draft of revisions to the currently effective Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS). The comment deadline for the exposure draft is next Friday, Oct. 30. Click here for the Academy email sent last month to members; for information on how to submit comments, click here. All comments are publicly posted here so you can inform yourself about the views others are expressing as well.
Recently Released
The Fall Life Perspectives includes a Q&A on the Tax Work Group’s white paper outlining the most significant changes in the taxation of life insurance companies that were made by the Tax Cuts and Jobs Act of 2017 (TCJA). Also in this issue, a report on the interactive Virtual PBR Boot Camp, the latest “Actuary Voices” podcast (which features Life Vice President Laura Hanson), and a preview of the life breakout sessions at the upcoming Annual Meeting and Public Policy Forum.
Register for December’s Virtual Seminar on Effective P/C Loss Reserve Opinions
The Academy’s Seminar on Effective P/C Loss Reserve Opinions is coming to you virtually this year. The agenda is designed for your convenience and needs during these challenging times with travel restrictions and stay-at-home remote work. Seminar sessions—to be held on Dec. 9–10 and 14–15—will begin at 1 p.m. EST each of the four days and run through the afternoon. Group registrations are available. Mark your calendars and register today.
Kaiser Health News quoted Donna Novak, a member of the Individual and Small Group Markets Committee, in stories examining Affordable Care Act (ACA) marketplace plans for 2021, reprinted by more than 60 media outlets.
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