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PUBLIC POLICY
Cross-Practice White Paper Examines Hedging & Risk Management
The Risk Management and Financial Reporting Council’s Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s (LPC) Life GAAP Reporting Committee released a white paper, Hedging and Risk Management, examining how insurance companies-life, health, or property/casualty-employ similar techniques to manage insurance risk, and use hedging as a risk management tool.
Academy Wraps Up Presentations at NAIC Fall National Meeting
 Volunteers and staff wrapped up presentations at the NAIC Fall National Meeting in Denver, covering key issues and interacting with regulators and other stakeholders. Academy policy analysts gave updates on recent Casualty Practice Council (CPC), Health Practice Council (HPC), and LPC activity; Director of Research Steve Jackson presented on a title insurance research project; and Senior Casualty Fellow Rich Gibson presented on insurance fraud and made comments during a discussion on trends in flood insurance during the Joint Meeting of the Property and Casualty Risk-based Capital (E) Working Group & Catastrophic Risk Subgroup.
Jackson, Annuity Reserves & Capital Subcommittee Chairperson Chris Conrad, and EY representatives presented an update on the VM-22 study, the Academy hosted a regulator-only luncheon on professionalism issues, and new Academy President Darrell Knapp gave an update on behalf of the Committee on Qualifications, along with Actuarial Standards Board (ASB) and Actuarial Board for Counseling and Discipline (ABCD) representatives, who gave professionalism updates to the three NAIC actuarial task forces. The Academy also discussed the ongoing project of creating knowledge statements for life and health actuaries with NAIC’s life and health actuarial task forces.
Blog post & recap-An Actuarially Sound blog post covers key NAIC meeting highlights. Look for an Academy video recap of the event, which will be available to watch on-demand in early December, and for more coverage in Update next week.
Academy at NCOIL Annual Meeting
The Academy is also attending the National Council of Insurance Legislators’ (NCOIL) annual meeting Thursday through Sunday in San Antonio. Stay tuned for a December blog highlighting sessions of interest and what to expect from NCOIL in 2025.
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