This Week … In a Minute

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This Week—A Focus on Professionalism

ASB Approves Exposure Drafts of ASOP Nos. 45, 49

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The Actuarial Standards Board (ASB) approved exposure drafts of proposed revisions to Actuarial Standard of Practice (ASOP) No. 45, The Use of Health Status-Based Risk Adjustment Methodologies, and ASOP No. 49, now titled Medicaid Managed Care Capitation Rates. Information on how to submit comments can be found in the drafts. Comments on both are due by Sept. 1.

Practice Councils Comment on ASOPs

The Casualty Practice Council, Health Practice Council, Life Practice Council, and Retirement Practice Council (RPC) submitted comments to the ASB on the third exposure draft of ASOP No. 41, Actuarial Communications, which had a comment deadline of June 1. The RPC also commented on an exposure draft of ASOP No. 6, Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Program Periodic Costs or Actuarially Determined Contributions, for which comments closed in May.

ASB Unveils New Website

The ASB unveiled a new, streamlined website that’s more seamlessly integrated with the recently updated Academy website for an improved user experience. The ASB is administered and largely funded by the Academy as part of the infrastructure that supports the U.S. actuarial profession’s well-established self-regulatory framework. On the new website, actuaries can see the ASOPs, learn about the ASB’s recent activities, find information on submitting comments on exposure drafts, read its Boxscore publication, and more.

Next Week—Professionalism Webinar to Explore ABCD’s Role

Join the Academy next Friday, June 12, for Professionalism: The Role of the ABCD. Academy President Tricia Matson will moderate, and Actuarial Board for Counseling and Discipline (ABCD) Chairperson William Hines and Vice Chairperson Shawna Ackerman will offer insight during this webinar and help actuaries better understand the ABCD’s role and processes related to inquiries and requests for guidance (RFG). Register today.

▶ RFG Requests—As of the end of May, the ABCD had handled 50 RFGs so far in 2026, continuing the high utilization of this service, according to Academy ABCD Director of Professionalism Ed Lee, who gave a professionalism presentation on May 28 to the Network of Actuarial Women and Allies, hosted by the Academy.

July Webinar to Examine Algorithmic Bias

Mark your calendar for a July 22 professionalism webinar examining algorithmic bias—the inherent prejudices that can be unintentionally embedded within the algorithms that drive machine learning and artificial intelligence (AI) systems. Learn about algorithmic bias, the potential harms that can result, and how actuaries can mitigate this type of bias. Presenters will walk through several examples as they discuss algorithmic bias and how to address it in actuarial work. This webinar is intended to meet the U.S. Qualification Standards (USQS) annual bias CE requirement. Registration will open soon.

Professionalism Counts—Conflicts of Interest

The latest “Professionalism Counts” continues marking this year’s 25th anniversary of the Code of Professional Conduct with Conflicts of Interest: What’s at Stake?—including a look at the Code’s Precept 7, which lays out conditions under which an actuary may perform actuarial services when an actual or apparent conflict of interest exists.

ICYMI—Up to Code: Are You Offside?

In case you missed it, with the World Cup set to begin next week in North America, the latest “Up to Code” column in the May/June Contingencies, Are You Offside?, looks at how actuaries can make sure they are qualified—and how they can “remain onside.”

Around the Academy

Contingencies Web Exclusive: Seven Ways Actuaries Shape Your Life

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While some people may never meet one, actuaries influence everyone’s finances, healthcare, workplace benefits, and retirement security through the systems that support Americans from birth through old age. The latest Contingencies web exclusive, Seven Ways Actuaries Shape Your Life, examines people’s wide-ranging connection with actuaries in everything from home, auto, life, and health insurance to Social Security, pensions, and employee benefits.

Actuary Voices—Automobile Insurance, Pride Month

A new Actuary Voices episode covers the rising cost of automobile insurance, including the Automobile Insurance Committee’s recent issue brief on the role of tariffs. Also, for Pride Month, “Hidden to Heard”—a discussion with Sexuality and Gender Alliance of Actuaries Treasurer Cynthia Edwalds on the power of data and the importance of visibility and community within the profession. Subscribe to Actuary Voices wherever you get your favorite podcasts.

Actuarial Update—Susan Kent Nominated as Academy President-Elect

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The May Actuarial Update reports on Casualty Vice President Susan Kent being nominated as the Academy’s next president-elect. Also in the issue is a report from the May Academy Board meeting and a roundup of upcoming Academy webinars and events.

Academy Congratulates New TAF Board Chair Steve White

The Academy congratulates Steve White, who was named as chair of The Actuarial Foundation’s Board of Trustees. White has helped guide development of TAF’s strategic plan while continuing to support growth across its programs and the broader actuarial community, the group said. He succeeds Kelly Cusick, who has been chair for the past year.

Academy in the News

A May 31 Birmingham, Ala., talk radio (WZRR-FM) segment on Social Security’s financing challenges extensively cited the Academy’s work in this area, detailing options for reform and informing listeners that “the longer action on this is delayed, the more dramatic the eventual fix has to be.”

Event Calendar

June 10	The Academy Meets Academia: Racial Differences in Life Insurance (research webinar)
June 12	Professionalism: The Role of the ABCD (professionalism webinar)
June 16	Enhancing Medicaid Risk Adjustment: Insights from the New Practice Note (health webinar)
June 22	Industry-University Cooperative Research Centers—Part 1: Natural Disaster Risk and Resilience (research webinar)
June 23	Bias in P&C Insurance: Current Research, Outreach, and Regulatory Engagement from the PCCEF (casualty webinar)
July 14	Industry-University Cooperative Research Centers—Part 2: Natural Disaster Risk and Resilience (research webinar)
July 22	Algorithmic Bias: It’s There, So What’s Being Done About It? (professionalism webinar; registration will open soon)
July 23	Is Workers’ Comp Beginning to Turn? Perspectives on Emerging Trends (casualty webinar)
Aug. 26	VM-22 Practitioners Forum; Denver (following SOA ValAct)
Sept. 14–16	Casualty Loss Reserve Seminar; Las Vegas (co-sponsored with CAS)
Sept. 23	Toward a Sustainable Retirement System: Choices That Shape the Future; Washington, D.C. (Academy retirement symposium)
Sept. 28–Oct. 1	Life and Health Qualifications Seminar; Arlington, Va.
Dec. 7–8	Seminar on Effective P/C Loss Reserve Opinions; Nashville, Tenn.