The C-2 Longevity Risk Work Group submitted comments to the National Association of Insurance Commissioners’ (NAIC) Life Risk-Based Capital Working Group (LRBCWG) on the exposure (2021-13-L), Longevity Factors and Instructions.

The Pension Practice Council published an issue brief considering mechanisms in place to help guarantee payment of pension plan participants’ earned benefits.

The Health Equity Work Group (HEWG) released the Discussion Brief – Issue in Focus, Health Equity From An Actuarial Perspective: A Deeper Dive Into Health Plan Pricing. This discussion brief, which focuses on questions related to pricing health insurance products, is part of a series to identify areas that may affect health equity. An introductory discussion brief provided an overview of the HEWG’s work.

The Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Actuarial Task Force (LATF) on an amendment proposal form (APF 2020-10), which addresses inclusion of future mortality improvement (FMI) into principle-based reserving (PBR) valuation.

The Long-Term Care (LTC) Reform Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care (EX) Task Force regarding the April 9 exposure draft of the Long-Term Care Insurance Multi-State Rate Review Framework. 

Academy President Tom Campbell submitted a letter to the NAIC Special Committee on Race and Insurance on proposed charges regarding P/C and life insurance issues related to Workstream Three (property/casualty) and Workstream Four (life insurance and annuities).

The Long-Term Care (LTC) Practice Note Work Group released the Long-Term Care Insurance public policy practice note to provide a source of information to practicing long-term care (LTC) actuaries seeking to better understand the considerations in evaluating experience, setting assumptions, valuation, and financial reporting.

The Retirement System Assessment and Policy Committee released an issue brief detailing considerations employers might take in determining whether to participate in a PEP or select a provider.

The Financial Reporting and Solvency Committee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force regarding the definition of “actuarial assets” in the revised proposed instructions for the Health Statement of Actuarial Opinion.

The Health Practice Council submitted a comment letter on a revised draft of Colorado Senate Bill 21-169, dated April 21, 2021, aimed to protect consumers from unfair discrimination in insurance practices. This letter follows up on previous Health Practice Council comments on the introduced version of the bill, submitted on March 29, 2021, and again focuses on the potential impact to health insurance.

The Health Solvency Subcommittee sent a comment letter in response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group to provide an additional digit within the subcommittee’s summary of the Investment Income Adjusted Health H2 Experience Fluctuation Risk Factors.

David Traugott, Chairperson of the Academy's Property and Casualty Risk Based Capital (P/C RBC) Committee, presented an update on P/C RBC underwriting factors experience to the NAIC's P/C RBC (E) Work Group. 

Ahead of President Biden’s address to a joint session of Congress on April 28, Academy President Tom Campbell noted “The Academy offers technical analysis to policymakers and regulators that is essential to developing and implementing effective public policy to address the new and continuing challenges facing Americans’ financial and retirement security through public programs and insurance and pension protections.”  Read the news release.

The Financial Reporting and Solvency Committee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force regarding the proposal to modify the definition of “actuarial assets” as used in the instructions for the Health Statement of Actuarial Opinion. 

The Automobile Insurance Committee released an issue brief on the development of consumer pricing for automobile insurance.

The Academy's Casualty Practice Council submitted comments to the Actuarial Standards Board regarding the setting assumptions actuarial standard of practice (ASOP). 

The Academy’s Pension Committee submitted comments to the Actuarial Standards Board regarding the third exposure draft of the proposed Setting Assumptions Actuarial Standard of Practice.

The Telehealth Work Group released an issue brief on telehealth coverage and payment considerations for policymakers now and after the COVID-19 public health emergency.

The Academy has released an original research paper on scalar methodologies to aggregate capital requirements across regulatory frameworks. Scalars are a central part of efforts to develop capital adequacy measures for financial groups that operate businesses in more than one country and/or more than one industry.

The VM-22 Subgroup released its VM-22 In Brief, providing an overview of Valuation Manual (VM)-22 requirements, which specifies new Interest rate requirements for reserves on single premium immediate annuities and similar contracts.