CBO Director Hall, Oregon Insurance Commissioner Cali to Speak at Annual Meeting
The Academy announced two more prominent speakers who will highlight the Annual Meeting and Public Policy Forum in November. Keith Hall, director of the Congressional Budget Office, will speak Nov. 4 on the long-term budgetary outlook of health, retirement, and other programs important to the actuarial profession; and Oregon Insurance Commissioner Laura Cali will speak in a plenary session.
Cali—an actuary and Academy member who became the youngest insurance commissioner in the country in 2013—is chairperson of the NAIC’s Big Data (D) Working Group and vice chair of the Auto Insurance (C/D) Working Group. She will provide perspective on the insurance implications of Big Data, emerging issues at the state regulatory level, and her unique views as an actuary/regulator.
Hall and Cali join previously announced keynote speakers Tom Reeder, director of the Pension Benefit Guaranty Corp., and former U.S. Sen. Christopher Dodd, principal sponsor of the Dodd-Frank financial reform law, both of whom will speak on Nov. 3.
This event will offer many practice-specific and cross-practice sessions on topics related to your actuarial area of practice, an opportunity to earn valuable continuing education credit, and ample opportunities to network. It will be held Nov. 3-4 in Washington, just days before the presidential and congressional elections.
Four Candidates Nominated for Academy Board of Directors
The Academy’s Nominating Committee presented a slate of four candidates for open regular director positions on the Academy Board of Directors: April Choi, Bob Rietz, Lisa Slotznick, and Stu Mathewson. Choi, Rietz, and Slotznick were nominated to serve three-year terms expiring in 2019, and Mathewson to serve a one-year term.
Online voting for the regular director positions will begin in August. See the July Actuarial Update for more information. Details about the Nominating Committee, how candidates are selected and other information about the election are available at the Academy’s online Election Center.
July Actuarial Update Released
The July Actuarial Update covers the Academy’s announcement of new speakers added for the Nov. 3-4 Annual Meeting and Public Policy Forum; Academy President Tom Wildsmith’s column, which looks at the importance of continuing education; Actuarial Standards Board Chairperson Maryellen Coggins’ ‘Professionalism Counts’ looks at the origins of ASOP No. 1; and the Academy’s annual volunteer survey will be coming in August.
Capitol Forum Webinar Looks at Driverless Vehicle Insurance Implications
With driverless cars becoming more of a reality, the Academy hosted a Capitol Forum webinar Wednesday, “Driverless Cars Are Here: Implications for Policy and Insurance,” that looked at the technological, safety, and insurance aspects of autonomous vehicles, and was attended by about 150 people.
Hosted by Roosevelt Mosley, a member of the Academy’s Automobile Insurance Committee, the panel included Cem Hatipoglu, director of the National Highway Safety Traffic Administration’s Office of Vehicle Crash Avoidance and Electronic Controls Research, and Brian Soublet, deputy administrator and general counsel of the California Department of Motor Vehicles.
With an impending overlap of autonomous vehicles and conventional vehicles on the road, one question will be the impact that this will have on insurance, Soublet said. “As actuaries, how much data are you going to need to be able to make a recommendation on rating plans? This is exactly the right time to be thinking about these issues.”
Slides and audio from the webinar are available on the Academy’s webinar page.
Upcoming Events
Webinar to Look at Health Care Systems of Taiwan, Hong Kong: The Academy’s “Exploring Global Health Care Cost Drivers” webinar series, which explores comparative experiences with trends in health care cost and drivers of cost increases worldwide, resumes next month with “Exploring Global Health Care Cost Drivers: Hong Kong and Taiwan,” to be held Aug. 25, from 8 to 9:30 a.m. EDT. Registration is open through Aug. 19.
CLRS Seminar Registration Open: The 2016 Casualty Loss Reserve Seminar (CLRS) and Workshops, jointly sponsored by the Academy and the Casualty Actuarial Society, will be held Sept. 18-20 in Chicago. Learn from expert analysis of innovation in reserving. For registration information, email arc@casact.org or visit the CLRS website.
Registration Continues for P/C Opinion Seminar: The 2016 “Seminar on Effective P/C Loss Reserve Opinions” will be held Dec. 6-7 in Chicago. 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 this seminar. Register today; early registration ends Aug. 31.
See our website for all Academy events. Reminder: Early registration for the Annual Meeting ends this Monday, Aug. 1.
Public Policy Activities
The Life Operational Risk Work Groupsubmitted comments to the NAIC’s Operational Risk (E) Subgroup on how operational risk, including a prospective growth charge, might be better reflected in the Life Risk-Based Capital formula.
In the News
A Commonwealth Fund article examining how the Affordable Care Act (ACA) has affected competition in health insurance markets cited data published in the Academy’s issue brief on 2016 cost drivers and the effect of the ACA reinsurance program in reducing premiums.
Managed Healthcare Executive cited statistics from the Academy’s health cost-driver issue brief in its coverage of the premium increases for 2017 that were recently announced by Covered California, the state’s official ACA marketplace.
The Daily Jeffersonian (Cambridge, Ohio) published a column by the Rural Health News Service that also cited the Academy’s 2017-rates issue brief. The column explores how premium and subsidy fluctuations under the ACA have affected Midwestern policyholders.
Benefitslink.com published testimony submitted by Academy Senior Health Fellow Cori Uccello and Karen Bender, chairperson of the Academy’s Individual and Small Group Markets Committee, for a U.S. House Ways and Means Committee hearing on rising health care premiums, on the major components driving 2017 premium changes.
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