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.

Life Vice President, Laura Hanson, presented an update of Life Practice Council activities to the Life Actuarial (A) Task Force at the National Association of Insurance Commissioners 2021 Virtual Spring National Meeting. 

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.

The Health Equity Work Group (HEWG) has released a discussion brief on health equity from an actuarial perspective. This brief serves as an introduction to the HEWG’s work in examining the following areas: health insurance benefit design, provider contracting and network development, premium pricing, and managing population health. Read the news release.

The Casualty Practice Council submitted a comment letter on Colorado Senate Bill 21-169 which is aimed to protect consumers from unfair discrimination in insurance practices. The comments addressed potential concerns of the legislation’s impact on casualty insurance.

The Life Underwriting and Risk Classification Work Group submitted a letter on Colorado Senate Bill 21-169 aimed at unfair discrimination in insurance, addressing potential concerns of the legislation’s impact on life insurance.

The Health Practice Council submitted a comment letter on Colorado Senate Bill 21-169 which is aimed to protect consumers from unfair discrimination in insurance practices. The comments focused on potential impacts to health insurance.

The Academy’s Economic Scenario Generator Work Group (ESGWG) submitted a comment letter to the National Association of Insurance Commissioners' Life Actuarial Task Force regarding its recent Economic Scenario Generator exposures.

The Automobile Insurance Committee released an issue brief on automobile insurance considerations arising from the COVID-19 pandemic.

The Variable Annuity Reserves and Capital Work Group submitted an amendment proposal to the NAIC’s Life Actuarial Task Force (LATF) to update the reference to the required minimum distribution (RMD) age in the VM-21 Standard Projection Amount pursuant to enactment of the federal Setting Every Community Up for Retirement Enhancement (SECURE) Act.