Notice: This Week will not be published next Friday, Nov. 23, due to the Thanksgiving holiday. This Week will resume on Nov. 30.
Recent Academy Activity, Nov. 12 – Nov. 16, 2012
Reminder: Professionalism/Ethics Survey
The Academy’s Council on Professionalism launched a survey to determine the landscape of professional and ethical issues that Academy members encounter. Members should have received a reminder recently to take the survey. We encourage you to participate in this short survey to help the Academy better serve the actuarial profession and further its professionalism mission.
Member Alerts
Life Insurance Issues: The National Association of Insurance Commissioners’ (NAIC) Life Insurance and Annuities (A) Committee voted to adopt amendments to the Valuation Manual, which sets forth minimum reserve and other requirements for insurance companies. Log in to read the full alert.
Website: New Postings
The Health Solvency Work Group submitted a letter to the NAIC’s Health Risk-Based Capital Working Group describing a model that examines administrative expenses within the context of business risk.
The Health Care Receivables Factors Work Group submitted a letter to the NAIC’s Health Risk-Based Capital Working Group that provides recommendations for receivables factors in the current RBC formula.
The Group Long-Term Disability Work Group submitted a proposed actuarial guideline to the NAIC’s Health Actuarial Task Force that will be used to provide instructions for the proposed new Group Long-Term Disability Valuation Table.
The Life Practice Council submitted a letter to the NAIC commending the inclusion of a budget item for the purposes of “Actuarial Guideline 38/Principle-Based Reserving Implementation and Monitoring.”
Upcoming Events
Just announced: Save the date for the last Council on Professionalism webinar on peer review: Dec. 12. More details coming soon!
Just announced: Save the date for the Dec. 13 Post-NAIC/PBA Update webinar. Presenters will review the NAIC Fall National Meeting and discuss progress on the principle-based approach to life reserves, what’s next for the Valuation Manual, and other life- and annuity-related activities. Stay tuned for more information.
Nov. 27 webinar: Social Security: Actuarial Status and Assumptions. Presenters will offer an actuarial perspective on the 2012 Social Security Trustees Report and the assumptions used in determining Social Security projections. Social Security Administration Chief Actuary Steve Goss will provide additional comments and answer questions.
Nov. 29 professionalism event: Everyone attending the NAIC Fall National Meeting is invited to a special breakfast on Nov. 29 to meet with representatives from the Actuarial Standards Board, Actuarial Board for Counseling and Discipline, the Academy’s Council on Professionalism, and its Committee on Qualifications to learn how each operates. Attendees also can stop by to meet one-on-one with representatives during “office hours.”
Fourth Quarter Retirement Account: Read about the Academy’s pension policy activities.
Recent Events
Ninety-five actuaries attended the Academy’s annual Life and Health Qualifications Seminar on Nov. 12–15 to learn how to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement.
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