ABCD Professionalism Webinar Highlights How to Get Guidance on Professional Dilemmas
An Academy professionalism webinar this week highlighted the guidance the Actuarial Board for Counseling and Discipline (ABCD) can provide in navigating difficult professionalism issues.
ABCD Chairperson Janet Fagan and ABCD member Kathy Riley presented valuable information about the significant opportunities to help actuaries think through ethically charged situations in Wednesday’s webinar, “Facing a Dilemma? The ABCD Can Help.” They explained how actuaries can take advantage of valuable guidance from the ABCD whenever they have questions about the Code of Professional Conduct, practice standards, or qualification requirements. They described the process and used case studies where they each took roles as questioner and responder, and answered many questions from attendees, who numbered over 1,200 from more than 740 registered sites.
The Academy’s post-NAIC webinar, held Monday, recapped life practice issues from last month’s NAIC Fall National Meeting. It was moderated by Dave Neve, chairperson of the Life Reserves Work Group, and featured Philip Barlow, associate commissioner for insurance for the District of Columbia Department of Insurance, Securities and Banking; Michael Boerner, director of the Actuarial Office at the Texas Department of Insurance; and Tom Campbell, chairperson, Academy AG 43/C3 Phase II Work Group. The webinar drew more than 160 attendees from more than 100 registered sites.
See the December Actuarial Update for more coverage of both webinars.
Recently Released
The December issue of HealthCheck recaps Academy work groups’ health presentations at the NAIC Fall National Meeting; a new Premium Review Work Group practice note; and the Centers for Medicare & Medicaid Services’ release of proposed notice of benefit and payment parameters for 2017 and draft 2017 actuarial value calculator and methodology.
The Pension Committee released the Variable Annuity Plans Practice Note exposure draft for measuring obligations of defined benefit pension plans that include variable annuity benefits.
The Enterprise Risk Management/Own Risk and Solvency Assessment (ERM/ORSA) Committee provided a presentation to the Financial Stability Oversight Council (FSOC) on the role actuaries play in promoting financial stability. In addition, Academy Senior Life Fellow Nancy Bennett and Senior Casualty Fellow Jim MacGinnitie made a presentation to FSOC on regulatory capital requirements for U.S. insurers.
Academy Thanks Actuarial Groups for Anniversary Well-Wishes
Gallup’s annual report on how Americans say their health insurance premiums are changing cited the Academy’s work on 2016 premium rate drivers to explain factors contributing to the trend of higher premiums. The story ran in several outlets, including Albany CEO, Savannah CEO, and Middle Georgia CEO.
A story in IdahoWatchdog.org referenced the Academy’s issue brief, The 80% Pension Funding Standard Myth, in examining the funding challenges facing Idaho’s judicial pension fund, which has a funded ratio of 78 percent. The piece is one of many since the brief’s July 2012 release to have cited its call for pension plans to prioritize full funding.
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