This Week, Mar. 3–7, 2025

TOP NEWS

NEW March/April Issue of Contingencies Highlights the Value of Volunteering

With National Volunteer Month approaching in April, the March/April Contingencies leads with “The Power of Volunteering,” in which two volunteers share how giving back has transformed their careers, enhanced the value of being an MAAA, strengthened the profession, and driven meaningful change in public policy. Darrell Knapp also speaks to the importance of volunteering in his President’s Message. Also in the issue: The story of Loyal Auto Insurance and how race and insurance intersected in mid-century America; and the second of a two-part series, “The Pacing Problem,” on technological innovation. And don’t miss the Actuarial Job Seeker supplement.

PROFESSIONALISM 

Register for This Month’s Webinar on The Code

Join President Darrell Knapp and the Academy’s two preceding presidents, Lisa Slotznick and Ken Kent, for a professionalism webinar that will examine the Code of Professional Conduct, which identifies the responsibilities actuaries have to the public, their clients and employers, and the actuarial profession itself. Presenters will discuss professionalism elements that require competency, integrity, objectivity, and commitment to service, which are set out in the Code. The webinar is set for Friday, March 28, from noon to 1:30 p.m. EDT. Register today.

New USQS FAQ on Returning to Actuarial Practice

The FAQs on the U.S. Qualification Standards (USQS) are another vital professionalism resource provided by the Academy, offering reliable, trusted guidance to help U.S. practicing actuaries navigate qualification requirements. Periodically updated by the Academy’s Committee on Qualifications, these FAQs evolve as new issues arise and additional guidance is needed. A new FAQ on what actuaries should do when returning to actuarial work after some time away from the profession was recently added. In addition to meeting continuing education (CE) requirements, actuaries should take into account how long they have been away from actuarial work and consider whether they need more than 30 hours of CE to be truly qualified for the work they intend to do. See the full FAQ #35 here.

Academy Presents at CAS Professionalism Course

Academy Director of Professionalism and liaison to the Actuarial Board of Counseling and Discipline (ABCD) Ed Lee presented Tuesday to the Casualty Actuarial Society (CAS) in Arlington, Va., as part of a Course on Professionalism designed to make candidates aware of CAS and Academy requirements regarding actuarial professional conduct, and the ABCD’s role in professionalism and self-regulation.

• Looking for a speaker? The Academy’s Speakers Bureau provides qualified speakers on professionalism and public policy topics.

   

RESEARCH

Award for Research Submissions Open; Deadline End of March

The Academy is inviting submissions for the third annual Award for Research, which recognizes an early-career scholar whose work contributes significantly to greater perspective on a public policy issue of interest to actuaries and public policymakers. This year’s theme is “Bias in Assessing Financial Risk: Origins, Detection, Mitigation,” focusing on biases which might affect actuarial assessments in insurance, retirement planning, and/or financial risk assessment.

The recipient, who will be announced this summer, will be invited to present their work virtually at an Academy webinar and in person at the Actuarial Research Conference, being held in July at York University in Toronto. The award includes a monetary prize of $7,500. For complete information on the Award for Research, and to submit, click here.

EDUCATION & EVENTS

Early Discounts End Soon for May’s Insuring the Future Investment Summit

Get an early-bird discount for the Academy’s Insuring the Future: Insurance Investment Summit, to be held May 22–23 in New York City. The inaugural event will bring together insurance investment professionals including actuaries, asset managers, and executives from the life, retirement, health, and property-casualty sectors. Check out the full agenda. Early-registration discounts end March 31—register today.

ICYMI—CDC Plans Webinar

The Feb. 26 webinar, Collective Defined Contribution (CDC) Plans: What Are They and Could They Work in the U.S.?, is available free for members in Academy Learning, along with all previous webinars and other Academy work products.

OUTREACH & NEWS

Academy Leadership Engages with Other Actuarial Organizations at NAAC Spring Meeting

Academy leadership attended the North American Actuarial Council (NAAC) meeting late last week in Orlando, Fla. Academy President Darrell Knapp and President-Elect Tricia Matson, along with Executive Director Bill Michalisin and General Counsel and Senior Director of Professionalism Brian Jackson participated, along with members of other actuarial organizations including CAS, the Society of Actuaries, Conference of Consulting Actuaries, the American Society of Enrolled Actuaries, Asociación Mexicana de Actuarios, Asociación Mexicana de Actuarios Consultores, and Colegio Nacional de Actuarios. NAAC members discussed issues including artificial intelligence, DEI and the actuarial pipeline, the future of the profession, risks associated with climate and extreme events, self-regulation, and more.

Actuarially Sound Highlights Academy’s AI Resources

The latest Actuarially Sound blog post highlights the Academy’s artificial intelligence (AI) resources as the use of AI increases in insurance, public policy, risk assessment, and decision-making.

ICYMI—Actuarial Update, HealthCheck

In case you missed it, the February Actuarial Update featured The Record, the Academy’s annual report that includes highlights of a productive 2024; previewed the upcoming “Hill visits” in early April; and the Professionalism Counts column on CE in retirement.

The Winter HealthCheck covered February’s long-term care insurance issue brief and webinar, and recent health-related legislative and regulatory activity.

In the News

• InsuranceAUM mentioned the Academy’s work on collateralized loan obligations. (InsuranceAUM Founder Stewart Foley will moderate the opening keynote session of the Academy’s Insuring the Future: Insurance Investment Summit in May.)
• Captive.com's coverage of World Captive Forum sessions included speakers’ discussions of loss ratio issues raised by the Academy in comments to the IRS.

MEMBERSHIP

Volunteers—Submit Your COI/CE Attestations

There’s still time for Academy volunteers and interested parties to submit their annual conflict of interest and continuing education (COI/CE) acknowledgements. A reminder went out this week to those who still need to submit them.

• Interested in volunteering? For information on how to become an Academy volunteer, visit the volunteer webpage or contact Volunteer and Member Engagement Manager Tony Washington (volunteer@actuary.org; 202-223-8196).

ICYMI—New Membership Requirements Webinar

Missed the Feb. 27 webinar on upcoming Academy membership requirements? Watch the replay and share it with non-Academy member credentialed actuaries and those pursuing their first actuarial designation. Changes take effect Jan. 1, 2026. Watch it now on the Academy’s YouTube page.

PUBLIC POLICY

Health Issue Brief Examines Individual Market

An issue brief from the Individual and Small Group Markets Committee, Ensuring Access, Affordability, Choice, and Competition in the Individual Health Insurance Market, gives an overview of how the individual market’s rules build upon risk pooling’s foundation by supporting the goals of increasing access to coverage, improving affordability, enhancing consumer choice, and encouraging insurer competition.

Medicaid Issue Brief Focuses on Per-Capita Caps

The Medicaid Committee also released an issue brief, Medicaid Per Capita Caps: Design Considerations and Policy Implications. It focuses on per-capita caps, discussing some of the key design considerations and the potential implications of different design decisions.

Public Policy in Brief

• The Life Products Committee provided comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on exposed Illustration Actuary Knowledge Statements.
• The Life Practice Council provided comments to LATF on the most recent AAT for Reinsurance Actuarial Guideline Draft Exposure.
• The Life Products Committee provided comments to LATF on a re-exposure of APF 2024-16, meant to provide guidance on a universal life nonforfeiture issue.

Visit the Public Policy webpage to stay on top of the latest news and activity.

EVENTS CALENDAR

• March 28: A Deep Dive Into the Code of Professional Conduct (professionalism webinar)
• April 2–4: Academy Hill visits; Washington, D.C.
• May 22–23: Insuring the Future: Insurance Investment Summit; New York City (early-bird discounts end soon)
• June 12: Future of Retirement Symposium; Washington, D.C.
• Sept. 8–10: Casualty Loss Reserve Seminar; Philadelphia
• Nov. 17–20: Life and Health Qualifications Seminar; Arlington, Va.
• Dec. 8–9: Seminar on Effective P/C Loss Reserve Opinions; Salt Lake City

Visit the Events Calendar for a complete listing of Academy events, and visit Academy Learning for webinar recordings and other Academy content.