Risk Management & Financial Reporting
The Academy’s Risk Management and Financial Reporting Council (RMFRC) serves as a trusted source for objective technical insights, and guidance for policymakers and regulators.
RMFRC is dedicated to illuminating decisions and redefining the standards of excellence in the ever-evolving world of Risk and Finance.
Additional Considerations in Data Science
A series of issue briefs providing a more complete, contextual view of important topics that arise in data science.
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Big Data
Academy resources on analyzing vast datasets using advanced computational methods to uncover trends, patterns, and associations.
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Enterprise Risk Management
Issues related to ERM encompassing property/casualty, life, and health actuarial practice areas.
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Federal Insurance Regulation/Systemic Risk
Regulation of insurance by the federal government or as a systemic risk to the economy.
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Financial Reporting/International Accounting
Global financial reporting issues that affect multiple areas of actuarial practice.
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Solvency/Reinsurance
Solvency, risk management, and reinsurance issues impacting various actuarial practices globally.
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Risk Management & Financial Reporting News
Uncategorized
ASB Approves Third Exposure of Proposed ASOP on Estimating Future Costs
The ASB recently approved a third exposure draft of a proposed new actuarial standard of practice (ASOP) titled Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk…
Topics: ASB News
Date Published: 02/08/2017
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Uncategorized
ASB Adopts Final Revision of ASOP No. 23
The ASB recently adopted a final revision of Actuarial Standard of Practice (ASOP) No. 23, Data Quality. The ASOP provides guidance to actuaries when selecting data, performing a review of data,…
Topics: ASB News
Date Published: 01/18/2017
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Uncategorized
ASB Adopts Final Revision of ASOP No. 24
The ASB recently adopted a final revision of ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation. The ASOP provides guidance to actuaries when performing professional…
Topics: ASB News
Date Published: 01/06/2017
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Risk Management & Financial Reporting Resources
Research Paper
Committees Release White Paper on Hedging & Risk Management
The Risk Management and Financial Reporting Council’s (RMFRC) Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s Life GAAP Reporting Committee released a white…
Research Paper
Discussion of Scalars in Reference to the US Developed Aggregation Method for Calculating Group Capital for Internationally Active Insurance Groups
This report outlines the purpose of scalars in the context of AM and considers various technical approaches for determining scalars. These approaches are further analyzed based on criteria to assess…
Comment / Letter
RESEARCH REPORT on Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) and National Association of Insurance Commissioners (NAIC) Climate Risk Disclosure Survey Responses Compared Qualitatively and Quantitatively: Eight Companies in 2019—Twenty-four Companies in 2020
Climate Related Financial Disclosures Work Group report submitted to the NAIC’s Climate and Resiliency (EX) Task Force. This accompanies a comment letter from the Academy’s Climate Change Joint Task…
Research Paper
Aggregating Regulatory Capital Requirements across Jurisdictions: Theoretical and Practical Considerations
Academy President-Elect Maryellen Coggins and Steve Jackson, assistant director for research (public policy), presented Sept. 13 at the Virtual Casualty Loss Reserve Seminar and Workshops (CLRS), on…
Research Paper
Climate Risk Financial Disclosure Analysis
ERM/ORSA Climate Related Financial Disclosures (CRFD) Work Group update to the NAIC Climate Risk and Resiliency (EX) Task Force on the Climate Risk Disclosures Survey Analysis project.
Research Paper