The IFRS 17 Work Group of the Financial Reporting Committee submitted comments to International Financial Reporting Standards (IFRS) Foundation Interpretations Committee Chairperson Bruce Mackenzie on the foundation’s tentative agenda decision Transfer of Insurance Coverage under a Group of Annuity Contracts (IFRS 17).
(May 23, 2022)Cyber Risk Task Force comments to the U.S. Department of the Treasury and Federal Insurance Office (FIO) request for comment (RFC) on the effectiveness of the cyber considerations of the Terrorism Risk Insurance Program, originating from the Terrorism Risk Insurance Act of 2002.
(May 16, 2022)Academy Comment Letter on Exposure of Proposed Actuarial Guideline related to Asset Adequacy Testing
(May 02, 2022)Academy Comment Letter to the Colorado Division of Insurance on SB21-169 on Life Insurance Underwriting
(May 02, 2022)Academy Comment Letter on Exposure of Proposed Actuarial Guideline on Nonforfeiture Requirements for Index Linked Variable Annuity Products Supported by Non-Unitized Accounts.
(May 02, 2022)The Asset Modeling and Reporting Task Force submitted comments on the draft Actuarial Guideline (AG) on Asset Adequacy Testing (AAT) which was exposed during the NAIC’s Life Actuarial Task Force’s February 10 meeting.
(March 25, 2022)The Life Valuation Committee submitted comments on APF 2020-12 regarding hedging in VM-20 and VM-21 to the NAIC’s Life Actuarial Task Force.
(March 25, 2022)The Life Underwriting and Risk Classification Work Group submitted comments to the NAIC’s Accelerated Underwriting (A) Working Group Ad Hoc Drafting Subgroup’s Educational Report exposure draft of March 4, 2022.
(March 18, 2022)The Life Reserves Work Group, Annuity Reserves and Capital Work Group, and Variable Annuity Reserves and Capital Work Group submit an amendment proposal and presentation to the NAIC’s Life Actuarial Task Force on Swap Spreads and the London Inter-bank Offered Rate Transition to the Secured Overnight Financing Rate.
(March 10, 2022)The Long-Term Care Medicaid Subcommittee submitted a comment letter to the Centers for Medicare & Medicaid Services (CMS) on the proposed rule, “Medicare Program; Contract Year 2023 Policy and Technical Changes to the Medicare Advantage and Medicare Prescription Drug Benefit Programs.” The comments focused on dual-eligible special needs plans (D-SNP’s) and separate medical loss ratio (MLR) requirements.
(March 07, 2022)The Annuity Reserves and Capital Work Group Submitted Recommendations of Aggregation Principles as outlined in the Academy’s Preliminary Framework Elements for Fixed Annuity Principle-Based Reserving to the National Association of Insurance Commissioners’ Life Actuarial Task Force’s VM-22 Subgroup.
(March 04, 2022)The Academy’s Life Underwriting and Risk Classification Work Group's comments to the NAIC’s Accelerated Underwriting (A) Working Group on its paper summarizing what the working group has learned on using external data and data analytics in accelerated underwriting and provides recommendations for regulators and insurers when evaluating accelerated underwriting.
(February 11, 2022)The Academy’s Annuity Reserves and Capital Work Group's letter and spreadsheet to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding a reinvestment credit quality assumption consistent with the current VM-22 mix.
(February 09, 2022)Academy President Maryellen Coggins submitted a letter to the Colorado Division of Insurance in advance of the upcoming stakeholder engagement process for the recently passed state law aimed to protect consumers from unfair discrimination in insurance practices. The comments addressed potential concerns of the law’s impact on casualty, health, and life insurance.
(February 04, 2022)The Academy’s Life Illustrations Work Group's comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its exposure draft regarding the indexed universal life illustrations post-AG 49-A, which have shown lower credited rates and related values than seen prior to AG 49-A.
(February 03, 2022)The Individual and Small Group Markets Committee submitted comments to the Centers for Medicare & Medicaid Services’ Center for Consumer Information & Insurance Oversight (CCIIO) on the Draft 2023 Actuarial Value (AV) Calculator Methodology.
(January 31, 2022)The Asset Modeling and Reporting Task Force's comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its proposed second exposure draft of an actuarial guideline (AG) regarding asset adequacy testing.
(January 28, 2022)The Index-Linked Variable Annuities Work Group's comment letter to the National Association of Insurance Commissioners’ Index-Linked Variable Annuity (A) Subgroup of the Life Insurance and Annuities (A) Committee on a proposed actuarial guideline (AG) regarding Index-Linked Variable Annuities.
(January 27, 2022)The Health Practice Council’s Individual and Small Group Markets Committee, Risk Sharing Subcommittee, and Health Equity Work Group submitted a comment letter to the Centers for Medicare & Medicaid Services (CMS) on CMS’ proposed rule for the 2023 Notice of Benefit and Payment Parameters (NBPP). The letter addresses network adequacy, standardized plan options, several provisions on health equity, updating quality improvement strategy standards and other topics.
(January 26, 2022)The ERM/ORSA Committee's comments submitted to the IAIS as part of the association's Public Consultation on the Development of Liquidity Metrics: Phase 2.
(January 24, 2022)Comment letter submitted to NAIC’s Climate and Resiliency (EX) Task Force. The comment letter from the Academy’s Climate Change Joint Task Force addresses an exposed proposal by the NAIC for a new climate disclosure, based on the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) guideline and includes a series of observations and three specific suggestions. The comments are based on research conducted by the Academy’s Climate-related Financial Disclosures Work Group.
(January 13, 2022)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 Force that addresses an exposed proposal by the NAIC for a new climate disclosure, based on the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) guideline and includes a series of observations and three specific suggestions. The report and associated comment letter to the NAIC are based upon research conducted by the Academy’s Climate-related Financial Disclosures Work Group.
(January 13, 2022)The C-2 Longevity Risk Work Group's comments to the National Association of Insurance Commissioners’ Longevity Risk (A/E) Subgroup on reserve implications of expanding the scope of C-2 Longevity Risk-Based Capital requirements to include longevity reinsurance contracts in the proposed Principle-Based Reserving framework.
(December 21, 2021)The Academy sent a letter to the chairs of the National Association of Insurance Commissioners’ (NAIC’s) Life Actuarial (A) Task Force and Life Risk-Based Capital (E) Working Group indicating an “as-is” availability of its economic scenario generator, the Academy Interest Rate Generator (AIRG) for those regulators and interested parties wishing to modify the AIRG parameters as a basis for producing an updated model.
(December 17, 2021)The Life Underwriting and Risk Classification Work Group's comments to the NAIC’s Accelerated Underwriting (A) Working Group on its paper summarizing the output of the working group’s recommendations and assessment to understand the current state of the life insurance industry and its use of accelerated underwriting.
(December 03, 2021)A Life Practice Council ad-hoc task force submitted comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on a proposed actuarial guideline (AG) regarding asset adequacy testing.
(December 02, 2021)The Variable Annuity Reserves and Capital Work Group's comments to the Life Actuarial Task Force on amendment proposal form (APF) 2021-11 regarding the proposed assumption disclosure requirements in VM-31.
(December 01, 2021)
The Risk Sharing Subcommittee submitted comments to the Centers for Medicare & Medicaid Services (CMS) Center for Consumer Information and Insurance Oversight (CCIIO) on the HHS-Operated Risk Adjustment Technical Paper on Possible Model Changes, exposed for comment on Oct. 26, 2021.
(November 24, 2021)Climate Change Joint Task Force comments to the U.S. Department of the Treasury and Federal Insurance Office (FIO) request for information (RFI) relating to regarding FIO's future work relating to the insurance sector and climate-related financial risks.
(November 15, 2021)The HEWG sent a comment letter to the NAIC’s Special (EX) Committee on Race and Insurance – Workstream 5 (Health) on the exposure draft of the Principles for Data Collection document. The revised draft was exposed on October 15, 2021, with comments due November 15.
(November 15, 2021)
