Members of the Reinsurance Work Group presented an update on reinsurance allocation to the Life Actuarial (A) Task Force. 

John Miller and Matt Coleman, co-chairpersons of the Annuity Reserves Work Group, presented an update to the Life Actuarial (A) Task Force on their annuity exclusion test efforts. 

Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented an update to the Life Actuarial (A) Task Force on the Delphi Study, Accelerated Underwriting, and VM-51 data elements. 

The Pension Committee, the Public Plans Committee, and the Multiemployer Committee submitted a comment letter to the ASB on exposure drafts of proposed revisions to ASOPs 4, 27, and 35.

The Multiemployer Plans Committee released notes from its meeting on Feb. 23, 2018 with officials of the Treasury and Labor departments, and Pension Benefit Guaranty Corporation to discuss applications by multiemployer pension plans in critical and declining status to suspend benefits or partition liabilities. This meeting supplements the first meeting between these parties on this topic, which was held on Feb. 22, 2017.

The Joint P&C/Health Bond Factors Analysis Work Group Report to the NAIC Investment Risk-Based Capital (E) Working Group, Health Risk-Based Capital (E) Working Group, and Property and Casualty Risk- Based Capital (E) Working Group on indicated bond risk factors for the Property Casualty Risk Based Capital Formula (P&C RBC Formula) and the Health Risk Based Capital Formula (Health RBC Formula).

The Extreme Events and Property Lines Committee issued a monograph, Uses of Catastrophe Model Output, on the development of catastrophe models and the uses of catastrophe model output in actuarial tasks.

Past Academy President Mary D. Miller submitted a letter with comments from the Academy to the National Association of Insurance Commissioners raising several concerns over a revised attestation proposal released for exposure on June 25 by the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF).

Past Academy President Mary D. Miller submitted a letter with extensive comments from the Academy to the NAIC responding to an exposure draft that the Casualty Actuarial and Statistical Task Force (CASTF) issued on a CAS/SOA proposal regarding CASTF’s “Continued Competence” charge. This is a significant proposal that would affect many actuaries. Comments are due by Monday, July 23. Those interested may wish to consider filing their own comments.

The Extreme Events & Property Lines Committee submitted a paper to the NAIC highlighting regulatory questions that arise if the flood insurance market transitions from relying upon the National Flood Insurance Program to a greater role for private-market coverage.

The C1 Work Group submitted a comment letter to the Investment Risk-Based Capital (E) Working Group on alternative C1 bond factors for different levels of statutory reserve offset. 

The AG43/C3 Phase II Work Group submitted a comment letter to the Variable Annuities Issues Working Group on proposed policyholder behavior assumptions. 

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.