The Academy’s Life Experience Committee and the SOA’s Preferred Mortality Project Oversight Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on Future Mortality Improvement Scale Development (VM-20).  

The Casualty Practice Council submitted comments to the Actuarial Standards Board (ASB) on the exposure draft of ASOP No. 29, Expense Provisions. 

The Long-Term Care (LTC) Reform Subcommittee’s LTC Actuarial Equivalence Work Group released the public policy issue brief, Value of Reduced Benefit Options in Long-Term Care Insurance Rate Increases. This issue brief examines the relationship of benefits to premiums for reduced benefit options (RBOs) in the context of ongoing long-term care insurance (LTCI) premium rate increases.

Extreme Events Committee comments to the House Financial Services Subcommittee on Housing, Community Development, and Insurance on the committee's proposed reauthorization and reforms of the National Flood Insurance Program, in advance of the congressional hearing. 

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).

The Academy’s Life Experience Committee submitted a Discussion Brief to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force regarding COVID-19 in Life Insurance Mortality Improvement.

Group Life Waiver Premium Valuation Table Work Group chairperson, Sue Sames, presented an update on proposed recommendations to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force on the Group Life Waiver of Premium Valuation Table and Actuarial Guideline 44 (AG 44). The purpose of the presentation was to give an overview of the work group’s progress and present the initial set of recommendations.  

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.

The Academy’s Life Underwriting and Risk Classification Work Group submitted comments to the Colorado Division of Insurance on the stakeholder engagement process to develop rules to implement SB21-169, a new law to limit unfair discrimination in the life underwriting process.

The Academy’s Index-Linked Variable Annuity Work Group submitted comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its exposure of a draft Actuarial Guideline on Nonforfeiture Requirements for Index Linked Variable Annuity Products Supported by Non-Unitized Accounts.

The Academy’s Asset Modeling and Reporting Task Force submitted comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force (LATF) on LATF’s exposure of a draft Actuarial Guideline on asset adequacy testing.

The Academy’s Annuity Reserves and Capital Work Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding longevity reinsurance and longevity swaps.

The Academy is seeking proposals from qualified vendors to produce its annual Life and Health Valuation Law Manual. Proposals are due by June 15, 2022. 

The Pension Committee published an issue brief highlighting public policy considerations involved in potential modifications to single employer pension plan funding rules.

The Academy’s Life Long-Term Care Combo Product Valuation Practice Note Work Group released Long-Term Care Insurance Combination Product Valuation, a practice note to that addresses the application of the NAIC Valuation Manual to these products from primarily a life insurance perspective. The previous 2019 Long-term Care (LTC) Combination Product Valuation Practice Note was developed by a work group of the Health Practice Council within the Academy.

On April 9, 2022, Academy Board member and Health Equity Work Group (HEWG) Chairperson Annette James presented to about 150 students at the Drake Symposium on Insurance on “Diversity, Equity & Inclusion in the Actuarial Profession.” Chairperson James highlighted the Academy’s strategic focus and ongoing efforts to address DE&I, including fostering a diverse, inclusive profession. She also presented on ongoing multifaceted HEWG initiatives to address health equity. 

Academy Life Vice President Ben Slutsker gave a presentation on recent Life Practice Council activity to the NAIC’s Virtual 2022 Life Actuarial Task Force (LATF) Spring National Meeting.

The Economic Scenario Generator (ESG) Work Group gave updates in response to LATF questions on the work group’s recent presentation on Model Office ESG Testing.

Academy Health Practice Council (HPC) Vice Chairperson, Barb Klever, provided an update on HPC activities to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during the Virtual 2022 Spring National Meeting.

The Intersector Group released notes from its February 2022 virtual meeting with the Pension Benefit Guaranty Corporation (PBGC).