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Recent Academy Activity, Sept. 14-18, 2015

Vote Now; Online Election Wraps Up Monday

Online voting for the Academy’s four open regular director positions continues through Monday, Sept. 21, at 11:59 p.m. EDT, so vote today. The Academy’s Nominating Committee presented the candidates for the Academy Board of Directors. For more information about election guidelines, how candidates are selected, and other details, please visit the Academy’s online Election Center.

Myers, Farley Award Winners Announced; Will Be Presented at Annual Meeting in November

The Academy announced the winners on Friday of its highest awards to two distinguished Academy members. Michael Boerner will receive the Robert J. Myers Public Service Award, which honors an actuary who has made an exceptional contribution to the common good, and Andrea Sweeny will receive the Jarvis Farley Service Award, which honors an actuary whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession through a lifetime of service.

The awards will be presented at the Academy’s Annual Meeting and Public Policy Forum, Nov. 12-13 in Washington, where you can attend breakout sessions in all areas of actuarial practice, receive continuing education (CE) credit, and be entertained by the Capitol Steps at the Nov. 12 Gala Dinner as part of the Academy’s 50th anniversary celebration. Register now to attend.

Upcoming Events

  • Early Registration Discounts End Today for the 2015 Life and Health Qualifications Seminar, so register now. The seminar will be held Nov. 9-12 in Arlington, Va. (metropolitan Washington, D.C.), just prior to the Academy’s Annual Meeting in Washington. Now in its 15th year, many attendees have found this highly regarded course the most efficient way to acquire the basic and continuing education required to issue statutory statements of actuarial opinion for NAIC life and health blanks. Early registration by today, Sept. 18, will save you $200; click here for information and to register.

  • Registration Continues for P/C Opinion Seminar: The Academy’s 2015 Seminar on P/C Effective Loss Reserve Opinions will take place Dec. 1-2 in Philadelphia. Actuaries who prepare or sign NAIC annual statement actuarial opinions on P/C loss reserves, or those who assist in preparing them, should plan to attend. Attendees are provided the opportunity to deepen their expertise, gain an understanding of regulatory perspectives and expectations, remain up-to-date on the latest regulations and standards, earn valuable CE credit, and network with peers. Click here for seminar information and click here to register.

Public Policy Activities

  • The Financial Reporting Committee submitted comments to the Financial Accounting Standards Board on its proposal to limit unlocking the assumptions and discount rates for long-duration insurance contracts to only the fourth quarter.

  • The Life Practice Council submitted comments to the NAIC’s Principle-Based Reserving Implementation (EX) Task Force on its “Substantially Similar Terms and Provisions” to Determine the Valuation Manual Operative Date exposure draft.

Newly Released

  • The Fall 2015 edition of Retirement Account reviews recent Academy pension and Social Security issue briefs; the Actuarial Standards Board’s July public hearing on public pensions; and regulatory matters including suspension of benefits, the Department of Labor’s fiduciary rule, and the Internal Revenue Service’s mortality tables.

In the News

  • Georgia Health News cited analysis from the Academy’s issue brief, Drivers of 2016 Health Insurance Premium Changes, which states that the phasing down of the Affordable Care Act (ACA) reinsurance program will be one of several significant drivers of 2016 premium changes. The story also was published in the Telegraph (Macon, Ga.) and the Rome News-Tribune (Rome, Ga.).

  • The Pittsburgh Post-Gazette cited the Academy’s issue brief, Potential Implications of the Small Group Definition Expanding to Employers with 51-100 Employees, in its reporting of the upcoming ACA provision scheduled to take effect on Jan. 1, 2016. The story also was posted on Insurance News Net.

  • The Health Practice Council’s Feb. 24 letter to Health and Human Services Secretary Sylvia Mathews Burwell was cited on healthinsurance.org, which examined premium subsidies for participants in Utah’s health insurance marketplace.

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