The Academy's Casualty Practice Council has submitted comments to the Actuarial Standards Board, regarding the proposed ASOP on Setting Assumptions.
( )The Academy's Extreme Events and Property Lines Committee has published a new document, Wildfire: An Issue Paper -- Lessons Learned from the 2017-2018 California Events. Read the news release.
( )The Academy presented a seminar on Predictive Modeling for regulators attending the NAIC's Insurance Summit in Kansas City.
( )The Academy submitted comments to the NAIC Casualty Actuarial and Statistical (C) Task Force regarding an exposure draft of proposed P/C Statement of Actuarial Opinion Instructions.
( )The Academy’s Senior Property/Casualty Fellow Rich Gibson and Assistant Director for Research (Public Policy) Steve Jackson outlined the Actuaries Climate Index and described the proposed Actuaries Climate Risk Index at a meeting of the Casualty Actuaries of Greater New York.
( )The Cyber Risk Task Force has published a new document, Cyber Risk Insurance: A Resource Guide for Actuaries.
( )The Committee on Property and Liability Financial Reporting sent a comment letter to the NAIC regarding ambiguity in instructions for reporting retroactive reinsurance.
( )The Casualty Practice Council submitted a comment letter to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.
( )The P/C RBC Committee submitted a scope letter to the NAIC P&C Risk-Based Capital (E) Working Group outlining proposed research into various underwriting risk factors in the RBC formula for P/C insurers.
( )The Academy’s senior casualty fellow, Rich Gibson, gave a presentation on the Actuaries Climate Index at Tulane University’s conference on environmental law.
( )The Academy's senior casualty fellow, Rich Gibson, presented testimony on predictive modeling at a hearing on automobile insurance held by the District of Columbia's Department of Insurance, Securities and Banking.
( )Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter to the Casualty Actuarial and Statistical (C) Task Force (CASTF) to the CASTF 's draft qualification and related documentation requirements and copy of a letter to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition.
Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter pertaining to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition.
( )Academy Senior Property/Casualty Fellow Rich Gibson submitted comments to the NAIC's Casualty Actuarial and Statistical Task Force (CASTF) regarding CASTF’s proposed white paper on Regulatory Review of Predictive Models.
( )The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note.
( )Academy Past President Mary D. Miller sent comments to the NAIC on CASTF’s draft 3-year experience proposal.
The Casualty Practice Council’s Travel Insurance Task Force published a monograph, Travel Insurance: An Actuarial Perspective, which provides information on the manner in which travel insurance is designed, filed, priced, sold, and serviced. Read the news release.
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The Committee on Property and Liability Financial Reporting sent a comment letter to the California Department of Insurance on proposed changes to reporting requirements for large deductibles in workers’ compensation plans.
( )Academy Past President Mary D. Miller on Friday submitted a comment letter from the Academy to the NAIC regarding the Casualty Actuarial and Statistical Task Force’s exposure draft related to the three-year experience requirement to sign statutory statements. In those comments Miller shared the Academy’s view that the exposure draft describes an approach that will neither clarify nor improve the current requirement.
( )The Joint P&C/Health Bond Factors Analysis Work Group Report to the NAIC Investment Risk-Based Capital (E) Working Group, Health Risk-Based Capital (E) Working Group, and Property and Casualty Risk- Based Capital (E) Working Group on indicated bond risk factors for the Property Casualty Risk Based Capital Formula (P&C RBC Formula) and the Health Risk Based Capital Formula (Health RBC Formula).
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