|
|
RECENT ACADEMY ACTIVITY | | |
|
| |
|
|
Only have a minute? Catch up on this week’s top stories with the latest “This Week … In a Minute” video. Subscribe to our YouTube channel to receive alerts as they are released. | |
|
|
| | |
This Week—A Focus on Professionalism ASOPs Open for Comment; ASOP No. 6 Comments Due Next Week | | |
|
<!–
Several actuarial standards of practice (ASOP) exposure drafts remain open for comment with deadlines approaching, including ASOP No. 6, comments for which are due next week. To comment, visit the Actuarial Standards Board (ASB) website. ▶ ASOP No. 6, Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Program Periodic Costs or Actuarially Determined Contributions, comments are due by next Friday, May 15. ▶ ASOP No. 41, Actuarial Communications, comments are due by June 1. (See item, below.) ▶ ASOP No. 30, Profit Provisions, Contingency Provisions, and the Cost of Capital in Property/Casualty Risk Transfer and Risk Retention, and ASOP No. 39, Treatment of Catastrophe or Extreme Event Losses in Future Cost Estimates for Property/Casualty Risk Transfer and Risk Retention, comments are due by July 1.
| | | |
Webinar Covers ASOP No. 41; Comments Due June 1 |
|
The Academy held a webinar on the third exposure draft of ASOP No. 41, Actuarial Communications, for which comments are due June 1. Presenters covered the drafting and revision process, the rationale for the revision, and notable provisions and changes. ASB member Judy Stromback highlighted changes to definitions, and ASOP No. 41 Task Force Chairperson Lisa Slotznick discussed triggers for producing an actuarial report. In the current exposure draft, an actuarial report must be issued when an actuarial communication includes a statement of actuarial opinion resulting from an actuarial analysis of data, she noted. ASOP No. 41 Task Force member and Academy President-Elect Frank Todisco discussed disclosures, distinguishing between disclosures required in any actuarial communication and those required in actuarial reports. Watch a replay on Academy Learning. Save the Dates—Summer Professionalism Webinars Save the dates for Academy summer professionalism webinars: - June 12—Actuarial Board for Counseling and Discipline (ABCD)
- July 22—Algorithmic Bias
| | | |
Professionalism Counts—Clear Communication in the Code |
|
The April Professionalism Counts, Clear Communication in the Code, continues this year’s series marking 25 years of the Code of Professional Conduct. It highlights the Code’s Precepts 4 and 5, on clear and appropriate communication, satisfying applicable ASOP requirements, and how disclosures help meet the Code’s Precept 1. ICMYI—COPR Professionalism Paper on Ethical Dilemmas In case you missed it, Navigating Ethical Dilemmas in Actuarial Practice, a professionalism discussion paper from the Committee on Professional Responsibility (COPR), aims to help actuaries identify, assess, and respond to serious ethical dilemmas. Academy to Present at May 28 NAWA Webinar The Academy's Director of Professionalism Ed Lee will present in a Network of Actuarial Women and Allies (NAWA) webinar on May 28. Lee’s session, “The Living ABCD: Understanding the ABCD's Role and Resources,” will highlight the board’s important role in the self-regulating actuarial profession. ASB Releases Annual Report The ASB released its 2025 Annual Report, highlighting its activities for the year. The ASB continued its standard-setting efforts, including approving exposure drafts of ASOP Nos. 6, 20, and 30 for comment and adopting revisions to ASOP Nos. 7 and 20. The ASB also continued development of nine additional new or revised ASOPs, and approved proposals to revise ASOP Nos. 8, 43, and 52. ▶ Boxscore released—Also recently released, Boxscore highlights the ASB’s 2026 leadership and previews the agenda for this month’s ASB meeting. | | | |
Around the Academy Reminder—Academy Awards Nominations Open | | |
|
<!–
A reminder that member nominations are due May 19 for the Academy’s annual service and recognition awards—the Jarvis Farley Service Award, the Robert J. Myers Public Service Award, the Outstanding Volunteerism Awards, typically given to multiple recipients, and the Rising Actuary Awards, also given to multiple recipients. To nominate, visit actuary.org/awards.
| | | |
Insurance Investment Summit Next Week |
|
The Academy’s Insurance Investment Summit is next week in New York. Online registration is still available for the May 12 pre-summit CE sessions on the first morning of the two-day event. For those attending the summit—which is sponsored by Barings, HSBC Asset Management, and 1823 Partners—we look forward to seeing you at the event. | | | |
Contingencies, Actuarial Update Released | | |
|
<!–
The May/June Contingencies includes the cover story “The Many Sides of Retirement Planning,” and features articles on emerging gene therapies and the benefits of being an Academy member. Tricia Matson explains why she joined the Academy and the lessons she’s gained along the way in her President’s Message. Executive Director Bill Michalisin highlights how the Academy empowers actuaries to serve the public, uphold professionalism, and make real-world impacts through their expertise and volunteering. ▶ Actuarial Update—In case you missed it, the April Actuarial Update covered the Academy celebrating its volunteers for National Volunteer Month and the Health Practice Council’s (HPC) Virtual Health Summit. Actuarially Sound Covers HPC’s Texas Testimony The latest Actuarially Sound blog posts cover HPC Co-Vice Chairperson Susan Pantely’s May 1 testimony before the Texas House Select Committee on Health Care Affordability, and provide an overview of lump-sum annuity distributions.
| | | | |
|
Having trouble viewing this email? View it in your browser. | |
|
©2026 American Academy of Actuaries. All rights reserved. | | | | | | | | | |
.png?cb=157370)
.jpg?cb=807743)
