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 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 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 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 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)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 Academy held a webinar exploring various applications of yield curve rates in determining the elements of pension accounting cost. Academy members can access the webinar here.
The P/C Risk-Based Capital Committee submitted a comment letter to the NAIC’s Capital Adequacy Task Force on the ongoing examination of the bond risk factors used in the P/C risk-based capital (RBC) formula.
(November 10, 2015)The Medicare Supplemental Work Group sent answers concerning questions regarding the work group’s recommendations on modifications to the Medicare supplement refund formula.
The Health Solvency Subcommittee provided an update on the evaluation of asset risk in the health risk-based capital (HRBC) formula.
Pension Practice Council submitted comments to the Treasury Department and Internal Revenue Service regarding final regulations concerning Qualified Longevity Annuity Contracts (QLACs) and their advantages.
(November 06, 2015)The Financial Reporting and Solvency Committee submitted a comment letter to the NAIC's Emerging Accounting Issues (E) Working Group on the “ACA Risk Corridors Collectability” exposure draft.
(October 30, 2015)The Academy's Health Practice International Committee released a new issue brief exploring the similarities and differences with respect to long-term care reform in Austria, Germany, Israel, Japan, Korea, the Netherlands, and the U.S.
(October 29, 2015)The Solvency Committee submitted comments to the National Association of Insurance Commissioners on the Group Capital Calculation Recommendation exposure draft.
(October 27, 2015)The Academy released a new interactive Social Security Game that allows users to explore various options and their consequences to make Social Security sustainable for generations to come. The game, which is compatible with smart phones and tablets, debunks various myths about Social Security and illustrates the options of reducing benefits or increasing revenues necessary to make the program sustainable for the next 75 years.
(October 23, 2015)
