The Macroprudential Task Force submitted a comment letter to the NAIC Liquidity Assessment (EX) Subgroup on the considerations for a liquidity stress test. 

The AG43/C3 Phase II Work Group submitted a comment letter on the May 31 exposure of the Variable Annuities Issues Working Group Framework. 

The Lifetime Income Risk Joint Task Force submitted a comment letter to Congress on the Lifetime Income Disclosure Act.

The AG43/C3 Phase II Work Group submitted a comment letter to the NAIC on the assumption governance for Actuarial Guideline 43. 

The Annuity Illustration Work Group submitted a comment letter to the NAIC on proposed changes to the Annuity Disclosure Model Regulation #245. 

The Life Illustrations Work Group submitted a comment letter to the California Department of Insurance on Assembly Bill 2634. 

The summer StateScan Quarterly highlights state legislation and regulation in the past quarter including casualty issues related to auto insurance and autonomous vehicles, flood and travel insurance, climate risk, and workers’ compensation; health issues including the individual market, Medicaid, and long-term care; and life insurance issues, public pension plans, and cross-practice issues, such as captive insurers and credit for reinsurance. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members.

Individual and Small Group Markets Committee members present at the 2018 SOA Health Meeting on examining rules surrounding association health plans, short-term limited duration insurance plans, and health reimbursement arrangements from the Trump Administration.

The Life Reserves Work Group submitted a revised APF to the NAIC on the aggregation of mortality segments for the purpose of determining credibility.

The C1 Work Group submitted a comment letter to the NAIC Valuation of Securities Task Force on their proposal to add comprehensive instructions for fund investments to the Purposes and Procedures Manual. 

The Social Security Committee released an issue brief on the 2018 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program.

The Long-Term Care & Disability Committee sent comments on proposed legislation to add a long-term care benefit to the Medicare program, evaluating in terms of financing, benefits, and coordination with other programs.

A new issue brief produced by the Individual and Small Group Markets Committee, Drivers of 2019 Health Insurance Premium Changes, provides an overview of the general factors underlying premium rate setting and highlights the major components driving premium changes for 2019. Read the news release.

The Medicare Subcommittee published an issue brief, Medicare’s Financial Condition: Beyond Actuarial Balance, on significant concerns about Medicare’s long-term financial health.

The Life Reserves Work Group submitted a revised APF on the Aggregation of Mortality Segments in response to comments received on their original version of the APF. 

The Life Operational Risk Work Group submitted a comment letter to the NAIC Operational Risk (E) Subgroup on incorporating prospective operational risk growth charge into the life Risk-Based Capital formula. 

The RBC Tax Reform Work Group submitted its third comment letter to the NAIC Risk-Based Capital Working Group on the impact of tax reform on life RBC calculations. 

The Academy released the monograph, Big Data and the Role of the Actuary, at the International Congress of Actuaries meeting in Berlin on June 5. The monograph examines how Big Data is providing actuaries with powerful new analytical tools and opportunities to work on Big Data projects, Academy Past President and Big Data Task Force Chairperson Bob Beuerlein told ICA attendees. Read the news release.