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 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 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 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.

On November 16, 2023, Academy Health Equity Committee chairperson Annette James and member Yi-Ling Lin presented to the Southeastern Actuaries Conference (SEAC) on the importance of health equity and cross-collaboration with various stakeholders. The presentation also highlighted the 2023 workshops and symposium focusing on the intersection of benefit design and health equity.

Derek Jones, chairperson of the Workers’ Compensation Committee, presented on the committee's issue brief, Navigating Workers’ Compensation and Medical Marijuana, during the National Council of Insurance Legislator's Annual Meeting in Columbus, OH. 

Ron Wilkins, chairperson of the P&C Risk-Based Capital Committee, presented to the NAIC Property and Casualty Risk-Based Capital (E) Working Group and the Catastrophe Risk (E) Subgroup on the Academy’s recently released report to the NAIC on P&C Underwriting Factors and Investment Income Adjustment (IIA) Factors.

The Health Equity Committee released an issue brief summarizing its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. 

The Health Equity Committee released the final two issue briefs in its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. How to Better Understand the Needs of the People We’re Trying to Serve explores how to better understand unmet needs and incorporate input from employees and plan members into the benefit design decision-making process, and Overcoming Constraints to Implementation discusses some of the challenges of implementing equity-enhancing benefit plans—and possible solutions. The lessons learned in discussions that led to the four issue briefs will be the topic of a special Health Symposium: Health Benefit Design Innovations for Advancing Health Equity Nov. 15, from 8:15 a.m. to 3:45 EST.

The Health Equity Committee released the final two issue briefs in its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. How to Better Understand the Needs of the People We’re Trying to Serve explores how to better understand unmet needs and incorporate

input from employees and plan members into the benefit design decision-making process, and Overcoming Constraints to Implementation discusses some of the challenges of implementing equity-enhancing benefit plans—and possible solutions. The lessons learned in discussions that led to the four issue briefs will be the topic of a special Health Symposium: Health Benefit Design Innovations for Advancing Health Equity Nov. 15, from 8:15 a.m. to 3:45 EST.

The Social Security Committee released an issue paper, Social Security and Financially Disadvantaged Groups, focusing on how benefits received by different groups are shaped by features of the program interacting with circumstances and trends associated with members of financially disadvantaged groups. The paper also discusses various reform proposals and how they might affect members of certain groups.

Health Care Receivables Factors Work Group member David Quinn provided an update to the NAIC’s Health Risk-Based Capital (E) Working Group on the current and proposed H3 Factors.