The PBA Governance Work Group presented an update on Academy involvement with PBR to the NAIC's Life Actuarial (A) Task Force.
( )Mary Bahna-Nolan, chairperson of the Life Experience Committee, submitted a letter to the NAIC's Life Actuarial (A) Task Force in response to comments from the American Council of Life Insurers (ACLI) on accelerated underwriting data elements.
( )Tricia Matson, Chairperson of the Longevity Risk Task Force, presented an update to the NAIC's Life Actuarial (A) Task Force on the Academy's proposed longevity risk field study.
( )Chris Whitney, member of the Life Reserves Work Group, gave a presentation on deterministic reserve considerations for indexed universal life (UL) under VM-20 to the NAIC's Life Actuarial (A) Task Force.
( )Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented to the NAIC's Life Actuarial (A) Task Force on guaranteed issue (GI) reserve comparison using different mortality bases.
( )The RBC Tax Reform Work Group submitted a comment letter to the NAIC's Life Risk-Based Capital (E) Working Group on changes to Risk-Based Capital calculations due to recent U.S. corporate tax reform.
( )The AG43/C3P2 Work Group submitted a comment letter to the NAIC's Variable Annuities (E) Working Group on proposed modifications to Actuarial Guideline XLIII (AG43) and C-3 Phase II (C3P2).
( )The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the revised draft for the Life Insurance Buyer's Guide.
( )The Life Reserves Work Group submitted an APF to the NAIC Life Actuarial (A) Task Force on potential changes to VM-20 on the aggregation of mortality segments for the purpose of determining credibility.
( )The Tax Work Group submitted a comment letter to the NAIC’s Statutory Accounting Principles (E) Working Group on SSAP 101 and Federal Income Tax Reform.
( )The Annuity Illustration Work Group submitted a comment letter to the NAIC's Annuity Disclosure (A) Working Group regarding proposed changes to the Annuity Disclosure Model Regulation (#245).
The Life Illustrations Work Group published a practice note to assist actuaries in performing professional services in compliance with ASOP No.24 and provide information to actuaries on current or emerging practices.
( )The Academy released a summary of select significant regulatory and legislative developments in 2017 at the state, federal, and international levels of interest to the U.S. actuarial profession.
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The Role of the Actuary Subgroup sent an Amendment Proposal Form to the NAIC Life Actuarial (A) Task Force on changes to the definition of Actuarial Opinion outlined in VM-01.
( )The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the CEJ Expanded Outline.
( )The winter StateScan Quarterly highlights state legislation in the past quarter related to auto insurance, health insurance marketplace changes, pension plans, principle-based reserving, and more. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members.
( )The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the NAIC group's "10 Things You Should Know Before Purchasing Life Insurance" exposure draft.
( )Arnold Dicke, Chair of the Role of the Actuary Subgroup, presented an update on the development to the NAIC Life Actuarial (A) Task Force on the definition of “qualified actuary” in the valuation manual and standard valuation law.
( )Donna Claire, Chair of the PBR Governance Subgroup, presented an update to the NAIC Life Actuarial (A) Task Force on the Academy’s efforts on PBR implementation.
( )The Life Practice Council sent a comment letter to the NAIC's Financial Condition (E) Committee raising concerns over the process by which the NAIC is developing changes to the statutory framework for variable annuities (VAs), including both C-3 Phase II for risk-based capital (RBC) and Actuarial Guideline (AG) 43 reserve requirements.
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