News for Friday, March 6, 2015
The transcript of the court proceedings on Feb. 24, 2015, is now available. On that date, Judge Peter Flynn of the Circuit Court of Cook County, Illinois, dismissed without prejudice all claims against the Academy—including any claims for injunctive or declaratory relief—that had been filed in December by a former president of the Society of Actuaries.

During the proceedings, Judge Flynn said that the “plaintiff’s position apparently is that his agreement to the procedures set forth in the bylaws of the organizations for the activities of the Actuarial Board for Counseling and Discipline only applies if he likes what the Board is doing. … Our court system is inclined not to want to overturn contractually agreed upon alternative dispute resolution mechanisms without some reason to do it.”

In dismissing the case, the court strongly affirmed that the U.S. actuarial profession may require members to have disciplinary complaints heard by the ABCD and not by the courts. (March 06, 2015)
In the March/April issue of Contingencies, read the feature article, "Smoke and Mirrors: Marijuana Use and Underwriting"—the author looks at how life insurance underwriting policies treat marijuana use, and asks whether that treatment is backed up by sound science. Also in this issue, features on autonomous vehicle technologies and auto insurers, possible reforms for health care payment systems, and how Big Data and “nudges” can help improve our lives. Also check out our annual Actuarial JobSeeker supplement, read a case study from the Actuarial Board for Counseling and Discipline, challenge yourself with our puzzles, and more. (March 03, 2015)
Nominations are now open for the Jarvis Farley Service Award, the Robert J. Myers Public Service Award, and the Outstanding Volunteerism Award. Learn more and submit your nomination(s) for a deserving colleague and/or respected mentor for the award that best suits his or her service to the actuarial profession and the Academy. (March 02, 2015)
The Individual and Small Group Market Task Force published an issue brief examining how the rules applying to groups sized 51-100 will change with the Affordable Care Act's scheduled expansion of the definition of small employers to those with up to 100 employees and what that will mean for insurance offerings in the small group market. Read the news release on the issue brief here. (March 02, 2015)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (February 27, 2015)