The Casualty Practice Council submitted comments to the Actuarial Standards Board on an exposure draft of a proposed Actuarial Standard of Practice (ASOP) on modeling.
(March 04, 2015)The Individual and Small Group Market Task Force published an issue brief examining how the rules applying to groups sized 51-100 will change with the Affordable Care Act's scheduled expansion of the definition of small employers to those with up to 100 employees and what that will mean for insurance offerings in the small group market. Read the news release on the issue brief here.
(March 02, 2015)The Pension Committee sent a comment letter to the Actuarial Standards Board (ASB) regarding the second exposure draft of the proposed Actuarial Standard of Practice (ASOP) on modeling standards.
(March 01, 2015)In a Feb. 24 letter to Secretary Burwell, the Health Practice Council urged HHS to consider implementing measures to counter the potential adverse consequences on health insurance premium rate filings in the event the Supreme Court rules for the petitioners in King v. Burwell. Read the news release.
(February 24, 2015)The PBR Strategy Subgroup and Life Reinsurance Work Group sent a comment letter to the NAIC PBR Implementation (EX) Task Force regarding the XXX/AXXX reinsurance supplemental proposal.
The Solvency Committee submitted comments to the International Association of Insurance Supervisors on the Risk-based Global Insurance Capital Standard public consultation document dated Dec. 17, 2014.
(February 06, 2015)The Pension Committee sent a comment letter to the IRS regarding the use of mortality tables to calculate pension funding requirements for the years after 2015.
(February 05, 2015)The Pension Committee sent a comment letter regarding potential improvements in the operation of IRC Section 436 while still protecting the funded status of pension plans.
(February 05, 2015)The Casualty Practice Council submitted comments to the Actuarial Standards Board on an exposure draft of a proposed Actuarial Standard of Practice on Property/Casualty Ratemaking.
(January 31, 2015)The Casualty Practice Council submitted comments on the Casualty Actuarial Society’s statement of principles on P&C ratemaking exposure draft.
(January 31, 2015)The Stress Testing Work Group submitted a comment letter to the NAIC Stress Testing (E) Subgroup regarding their stress testing proposal as an outline for field testing of life insurance reserves.
The Academy published a new Essential Elements paper, Climate Change, on the increased losses borne by businesses, homeowners, and insurers caused by hurricanes, severe storms, tornadoes, and other weather-related events. The Essential Elements series is designed to make actuarial analyses of public-policy issues clearer to general audiences.
(January 29, 2015)The Life Capital Adequacy Committee (LCAC) sent a comment letter to the NAIC Life Risk-Based Capital (E) Working Group regarding exposure drafts related to the XXX/AXXX reinsurance framework.
Janet Barr, former chairperson of the Academy’s Social Security Committee, submitted post-hearing testimony to the U.S. Senate Committee on Finance following its hearing on “Social Security: Is a Key Foundation of Economic Security Working for Women?”
(January 15, 2015)Pension Practice Council (PPC) sent a letter to Treasury Department regarding the benefits of allowing qualified defined benefit pension plans to provide longevity annuities directly, rather than requiring them to purchase an insurance contract.
(January 14, 2015)Pension Committee sent a comment letter to the PBGC regarding interpretation of plan provisions governing actuarial equivalence.
(January 13, 2015)The Life Illustrations Work Group sent a letter to the NAIC Life Actuarial (A) Task Force regarding principles for a sound actuarial guideline on illustrations of life insurance products.
Life Capital Adequacy Committee, Property and Casualty Risk-Based Capital Committee, and Health Solvency Work Group comments to the National Association of Insurance Commissioners (NAIC) on operational risk issues.
(January 07, 2015)The Academy has published its annual year-end Legislative/Regulatory Review that offers members a retrospective of the significant federal, state, and international developments that affected the U.S. actuarial profession last year, and key issues that will carry over into 2015. This special alert also highlights the Academy’s work in all practice areas. (January 07, 2015)
The Financial Reporting Committee sent comments to the International Accounting Standards Board (IASB) on its treatment of participating contracts in its insurance contracts project in follow-up to a November conference call.
(December 23, 2014)
