The Intersector Group released the notes of its November 2019 meeting with the Treasury Department and Internal Revenue Service.

The Intersector Group released the notes of its November 2019 meeting with the Pension Benefit Guaranty Corporation.

As part of its continuing public policy research program providing objective and independent information based on actuarial analysis, the American Academy of Actuaries today introduced the first model and results of the Actuaries Climate Risk Index (ACRI), which provides results associating dollar estimates of property losses in the United States with changes in extreme weather.

The Academy has long been the most reliable and credible source of objective, independent, and nonpartisan information about actuarial matters that can and do affect public policy decisions in the U.S. We are now releasing the ACRI to provide that objective and independent analysis to assist in answering the question: Are the extreme weather conditions that result from a changing climate producing increased property losses?

The findings contained in version 1.0 of the ACRI are the culmination of years of research. We are presenting them now in the spirit of objective, transparent scientific inquiry and statistical rigor. Read the report.

The Extreme Events and Property Lines Committee responded to the NAIC's Catastrophe Risk Subgroup's request for additional information about wildfires. 

The Principle-Based Approach Projections Practice Note is now available. This practice note contains questions and answers related to common practice for projecting future principle-based reserve and risk-based capital calculations. 

The Multiemployer Plans Committee submitted a comment letter to the U.S. Senate Committee on Finance regarding the Multiemployer Pension Recapitalization and Reform Plan.

The Pension Committee published Working With Auditors of Pension and OPEB Plans, a practice note providing actuaries with insights on engaging productively with auditors.

The P/C Extreme Events and Property Lines Committee presented a report on the Academy’s issue paper Wildfire: Lessons Learned from the 2017-2018 California Events to the NAIC’s P/C RBC Catastrophe Risk Subgroup. They also updated the NAIC on the Actuaries Climate Index.

The Life Experience Committee provided an introduction on the Valuation Basic Table analysis process to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting. 

Donna Claire, Chairperson of the PBR Governance Work Group, gave an update on the development of Academy PBR resources to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting. 

The Life Reserves Work Group gave an update on PBR treatment for individually underwritten group insurance to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting. 

Marianne Purushotham, Chairperson of the Life Experience Committee Life Mortality Improvement Subgroup, gave an update on mortality improvement scale methodology to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting. 

Ben Slutsker, Chairperson of the Annuity Reserves Work Group, and John R. Miller, Vice Chairperson, gave an update on preliminary framework elements for non-variable annuity PBR to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting. 

Chris Conrad, Chairperson of the SVL Interest Rate Modernization Work Group, gave an update on Non-SPIA Valuation Rates to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting. 

Jason Kehrberg, Chairperson of the YRT Field Test Project Oversight Work Group, gave an update on the YRT Field Test Timeline to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting. 

The Life Reserves Work Group submitted APF 2019-33 to the Life Actuarial (A) Task Force. The APF seeks to clarify the definition of individually underwritten life insurance and the applicability of PBR requirements for group insurance contracts with individual risk selection issued under insurance certificates. 

The Life Illustrations Work Group sent a comment letter to the NAIC Life Actuarial (A) Task Force addressing their questions on illustrations of Indexed Universal Life (IUL) insurance policies under Actuarial Guideline 49.

The Long-Term Care (LTC) Combination Product Valuation Work Group finalized the LTC Combination Product Valuation Practice Note to provide information to actuaries on current and emerging practices in which their peers are engaged with respect to the considerations in the statutory, Generally Accepted Accounting Principles (GAAP) and tax valuation of long-term care combination products.

The Longevity Risk Task Force sent a cover letter outlining sample changes to the risk-based capital (RBC) blanks for implementing longevity C-2 factors. 

The Academy's senior casualty fellow Rich Gibson submitted comments on the latest draft of a proposed NAIC white paper on Regulatory Review of Predictive Models.