The Prudential Regulation Committee released an issue brief, Introduction to Insurance Group Capital Requirements, which focuses on U.S. application, including a discussion of the two primary approaches used to determine group capital.

The Climate Change Joint Committee released an issue brief, ESG and the Actuary, which is intended to present some of the basics of environmental, social, and governance (ESG) considerations as actuaries contemplate how ESG may impact their work.

The Pension Committee released an issue brief, Church-Sponsored Retirement Plans—Overview and Considerations. This issue brief discusses the broad range of church plans and practices. Among other considerations, it discusses the impact on a participant of being in a church plan when the ERISA protections and provisions for U.S. tax-qualified single or multiemployer pension plans generally do not apply.

The Health Practice Council’s Health Care Delivery Committee, Individual and Small Group Markets Committee, and Active Benefits Committee responded to the Committee on Health, Education, Labor, and Pensions’ (HELP) request for information on access to gene therapies for patients with an ultra-rare disease.

Health Equity Committee co-chairpersons Annette James and Rebecca Sheppard, and member Yi-Ling Lin, gave an overview of the committee’s work on equity considerations related to benefit design to AHIP’s Health Equity Workgroup.

The Health Practice Council’s Individual and Small Group Markets Committee submitted comments to the Centers for Medicare & Medicaid Services regarding the proposed rule for the 2025 Notice of Benefit and Payment Parameters.

The Individual and Small Group Markets Committee submitted comments to the Centers for Medicare & Medicaid Services’ Center for Consumer Information & Insurance Oversight (CCIIO) on the Draft 2025 Actuarial Value (AV) Calculator Methodology.

The Long-Duration Contracts Work Group of the Academy’s Risk Management and Financial Reporting Council released the practice note Application of ASU 2018-12 to the Accounting for Long-Duration Contracts under U.S. GAAP, which covers aspects of the application of Accounting Standards Update 2018-12, published in 2018 by the Financial Accounting Standards Board.

The Life Experience Committee released an issue paper, Considerations Regarding Dynamic Lapses in Actuarial Modeling. The issue paper explores items that impact lapses and discusses the impact of dynamic lapses on various life and annuity products, offers sample formulas for use in modeling, discusses how predictive analytics could be an alternative approach to model lapse behaviors, and provides sources of information on lapses.

Senior Health Fellow Cori Uccello and Health Equity Committee Co-Chairperson Rebecca Sheppard gave an overview of the committee’s work on equity considerations related managing population health and risk adjustment to AHIP’s Health Equity Workgroup.

The Life Index-Linked Variable Annuity (ILVA) Subcommittee submitted a comment letter to the ILVA Subgroup of the Product Standard Committee (PSC) Interstate Insurance Product Regulation Commission (IIPRC) on the November 14 exposure of the Standards for Individual Deferred Index Linked Variable Annuity Contracts and the draft amendments to the Additional Standards to Market Value Adjustment.

The C1 Subcommittee presented to the NAIC's Risk-Based Capital Investment Risk and Evaluation (E) Working Group on Updated Principles for Structured Securities RBC at the NAIC's Fall National Meeting in Orlando, FL.

The P&C Committee on Equity and Fairness submitted comments to the Colorado Division of Insurance on its life insurance draft regulation on governance and risk management framework requirements and its applicability to private passenger automobile insurance.

Academy Casualty Policy Analyst Rob Fischer presented to the NAIC’s Casualty Actuarial and Statistical (C) Task Force (CASTF) on behalf of Casualty Practice Council and Committee on Property and Liability Financial Reporting (COPLFR) on recent publications and future work products expected for release in December 2023 and early 2024.

Academy Senior Health Policy Analyst Matthew Williams provided an update on the Health Practice Council (HPC) activities of interest to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during its 2023 Fall National Meeting. Topics included: updates on the Health Equity Committee’s workshops and symposium; long-term services and supports; tiered RBC factor development; and the key policy priorities for the HPC in 2024.

The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on Generator of Economic Scenarios (GOES) gross wealth factors.

The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on the October 18 exposure of the Generator of Economic Scenarios (GOES) corporate model decision. 

The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on the October 5 exposure of the Generator of Economic Scenarios (GOES) stylized facts and acceptance criteria.

The Life Practice Council (LPC) presented on current and future LPC workstreams to the NAIC’s Life Actuarial (A) Task Force (LATF) meeting as part of the NAIC Fall National Meeting in Orlando, FL.

The collaborative U.S.-based actuarial organizations’ Intersector Group released notes from its September meetings with the Pension Benefit Guaranty Corporation and the IRS and U.S. Department of the Treasury.