The Academy released its 2015 P/C Loss Reserve Law Manual, which is updated from 2014 and designed to help appointed actuaries comply with NAIC annual statement requirements. The manual includes SAO requirements and state laws and regulations establishing requirements; annual statement instructions for the SAOs for P/C, title loss, and loss expense reserves; and other pertinent annual statement instructions. The manual is available online or as a CD-ROM, and members can order online here.
(January 12, 2016)Read the newest edition of PBA Perspectives, the Academy’s quarterly update on regulatory, legislative, and Academy activities surrounding the implementation of the Principle-Based Approach (PBA) for life insurance.
(December 22, 2015)The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note.
(December 22, 2015)The Enterprise Risk Management/Own-Risk and Solvency Assessment Committee provided a presentation to the Financial Stability Oversight Council (FSOC) on the role actuaries play in promoting financial stability.
(December 11, 2015)Academy Senior Life Fellow Nancy Bennett and Senior Casualty Fellow Jim MacGinnitie provided a presentation to the Financial Stability Oversight Council (FSOC) on regulatory capital requirements for U.S. insurers.
(December 11, 2015)The Pension Committee released the Variable Annuity Plans Practice Note exposure draft for measuring obligations of defined benefit pension plans that include variable annuity benefits.
(December 11, 2015)The Intersector Group released the notes of its September 2015 meeting with the Treasury Department and Internal Revenue Service.
The Intersector Group released the notes of its September 2015 meeting with the Pension Benefit Guaranty Corporation.
The Life Illustrations Work Group submitted comments to LATF’s IUL Illustration (A) Subgroup on the draft revision of Actuarial Guideline (AG) 49.
(December 01, 2015)The Academy continued its dialog with insurance regulators on a wide variety of issues, including long-term care insurance, automobile insurance, risk-based capital, and principle-based reserving at the National Association of Insurance Commissioners 2015 Fall National Meeting held November 19-22 at National Harbor, outside of Washington, DC. Read the Academy Alert here. (November 25, 2015)
The Price Optimization Task Force submitted a comment letter to the NAIC’s Property/Casualty Committee on the Price Optimization White Paper after its adoption by the Casualty Actuarial and Statistical Task Force (CASTF).
(November 21, 2015)The ERM/ORSA Committee submitted comments to the International Actuarial Association (IAA) on its white paper "Actuarial Aspects of ERM for Insurance Companies."
(November 20, 2015)Academy Senior Property/Casualty Fellow Jim MacGinnitie testified at the National Association of Insurance Commissioners’ (NAIC) public hearing on "The Pricing of Automobile Insurance."
(November 19, 2015)The Long-Term Care Terminations Work Group (LTCTWG) sent their final report to the NAIC's Long-Term Care Actuarial Working Group on terminations for long-term care (LTC) insurance.
(November 18, 2015)The Cancer Claims Cost Tables Work Group presented to the NAIC's Health Actuarial Task Force the produced graduated valuation tables, and sample reserve calculations.
The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue, simplified issue and preneed to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting.
(November 17, 2015)The Nonforfeiture Modernization Working Group (NMWG) made a presentation on the gross premium nonforfeiture method to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting.
(November 16, 2015)The Deposit Fund Subgroup submitted comments to the Life Actuarial Task Force on rules for separate accounts that fund guaranteed minimum benefits under group contracts related to the synthetic GIC model regulation.
(November 16, 2015)The Annuity Reserves Work Group (ARWG) provided a non-variable annuity PBR update to the Life Actuarial Task Force’s VM-22 Subgroup at the NAIC Fall 2015 National Meeting.
(November 16, 2015)
