P/C Extreme Events and Other Lines Committee comments to the Senate Banking Committee regarding their hearing, “Reauthorization of the National Flood Insurance Program: Protecting Communities from Flood Risk”

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

The Academy’s Annuity Reserves and Capital Work Group, Variable Annuity Reserves and Capitol Work Group, and the Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on the exposure of APF 2022-04 Swap Spreads and the transition from LIBOR to SOFR.

The Academy’s Climate Change Joint Task Force (CCJTF) submitted comments to the Securities and Exchange Commission (SEC) on their request for public input on the proposed rule, the “Enhancement and Standardization of Climate-Related Disclosures for Investors.”

The Social Security Committee released an issue brief on the 2022 Social Security Trustees Report examining the social insurance program’s long-term solvency issues.

The Academy's Extreme Events and Property Lines Committee published a paper, Insurance Linked Securities and Catastrophe Bonds, a public policy issue paper.

The Group Life Waiver Premium Valuation Table Work Group submitted recommendations for the revised 2022 Group Life Waiver of Premium Valuation Table and the revised Actuarial Guideline 44 (AG 44) to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force (HATF).

The Health Practice Council’s Individual and Small Group Markets Committee and Active Benefits Subcommittee submitted comments to the Internal Revenue Service (IRS) on the proposed rule for “Affordability of Employer Coverage for Family Members of Employees.” The comments relate to provisions addressing the so-called “family glitch,” revisions to the employer coverage affordability test, and the Minimum Value (MV) Calculator.

The Medicare Committee released an issue brief on the financing challenges facing the Medicare program based on the 2022 Medicare Trustees Report.

The American Academy of Actuaries’ Cyber Risk Toolkit, developed by the Academy’s Cyber Risk Task Force, is comprised of a series of papers addressing issues pertinent to cyber risk insurance and cyber exposure. This document has been updated to include the “Autonomous Vehicles and Cyber Risk” section. The toolkit will continue to be updated periodically to reflect new and emerging work from the task force. 

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 Academy’s Economic Scenario Generator Work Group ESG Field Test Subgroup submitted an updated spreadsheet to the National Association of Insurance Commissioners’ Life Risk-Based Capital (E) Working Group that expands the 2015 C-3 Phase 1 Field Test Spreadsheet  to accommodate more scenarios.

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

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.