The Solvency Committee submitted comments to the International Actuarial Association on the International Association of Insurance Supervisors’ paper, Common Framework for the Supervision of Internationally Active Insurance Groups.
(November 22, 2013)The Academy’s Pension Practice Council published an issue brief that examines the different measurements of the obligations of defined-benefit pension plans that discusses two common measurements: solvency value and budget value. Read the news release.
(November 21, 2013)Audrey Halvorson, who chairs the Academy's Rate Review Practice Note Work Group, made a presentation on behalf of the Academy to the National Conference of Insurance Legislators on the Affordable Care Act's effect on premiums.
(November 21, 2013)Senior Life Fellow Nancy Bennett addressed state legislators on the lifetime-income needs of retirees in a presentation given at the National Conference of Insurance Legislators’ annual meeting.
(November 21, 2013)
Find out what researchers learned from Oregon’s efforts to expand its Medicaid program and get an inside look at the utilization, finances, and health outcomes of those who were selected in the lottery compared to those who were not. Co-author of the study, Katherine Baicker, PhD, Professor of Health Economics in the Department of Health Policy and Management at Harvard School of Public Health, will lead the discussion in providing an overview of the study, including methods, assumptions, and data received. The study led to some interesting conclusions—register to learn more!
(November 15, 2013)
The Life Practice Council submitted comments on the Initial Report of Rector & Associates to the NAIC Principle-Based Reserving Implementation (EX) Task Force regarding assets for captive reinsurance.
The NAIC's Group Long-Term Disability Valuation Table Implementation (B) Subgroup voted to re-expose the Academy's proposed Group Long-Term Disability Work Group Actuarial Guideline until Dec. 3.
(November 15, 2013)The Health Practice Council sent a letter to members of Congress outlining the potential consequences of proposals that would modify ACA provisions regarding plan cancellations in the individual and small group health insurance markets. Read the news release.
(November 14, 2013)The Life Practice Council’s Principle-Based Reserves (PBR) Legislation-In-Brief was distributed to insurance legislators and top insurance regulators of each state where the NAIC model Standard Valuation Law may be considered in 2014. The brief is intended to inform legislators and insurance commissioners of the importance of the new PBR methodology and the NAIC model Standard Valuation Law.
(November 08, 2013)The State Long-Term Care Task Force submitted a comment letter to the NAIC's Long-Term Care Valuation Subgroup regarding proposed changes to the NAIC's Health Insurance Reserves Model Regulation.
(November 06, 2013)The Health Practice Council sent a letter to members of Congress outlining potential adverse consequences of delaying the Affordable Care Act's (ACA) individual mandate and/or extending its open enrollment period. Read the news release.
(November 05, 2013)The Health Practice Financial Reporting Committee released a new issue brief providing an overview of Affordable Care Act provisions - the premium-stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities - that may create a certain amount of volatility on future financial statements.
(November 01, 2013)
Registration for the next Academy Capitol Forum webinar is open! The November webinar features speakers from the National Association of Insurance Commissioners (NAIC) and the Academy’s Financial Regulatory Reform Task Force. Presenters will highlight several insurance regulatory developments that are occurring at the state, federal, and international levels—a discussion of ComFrame, global systemically important financial institutions, Solvency Modernization Initiative, Own Risk Solvency Assessment (ORSA), and others. You’ll also receive an overview of many of the key regulatory organizations involved with implementing these regulatory changes.
(October 30, 2013)
Joint Committee on Retiree Health, Pension Committee, and Pension Finance Task Force sent a letter to the Actuarial Standards Board (ASB) on coordinating Actuarial Standards of Practice (ASOPs) involving retirement benefits.
(October 29, 2013)
The Academy’s Enterprise Risk Management Committee will outline an iterative framework to implement or enhance the ERM discipline within insurance companies. Presenters will elaborate more on the definition, standards, regulations, and common aspects of ERM that are included in the July ERM practice note, “Insurance Enterprise Risk Management Practices.”
(October 25, 2013)
The International Accounting Standards Task Force submitted a comment letter to the International Accounting Standards Board and a separate comment letter to the Financial Accounting Standards Board on their respective revised exposure drafts of accounting proposals for insurance contracts.
The Financial Regulatory Reform Task Force submitted comments to the Financial Stability Board on its paper discussing the application of key attributes of an effective resolution regime to non-bank financial institutions.
(October 18, 2013)Whether you’re an actuary who signs P/C loss reserve opinions or someone who assists in preparing them, the Academy’s annual seminar on P/C Effective Loss Reserve Opinions offers you an opportunity to deepen your expertise, become more efficient in your work, and differentiate yourself from others in your field. Join us on Nov. 13 and 14 in St. Louis for this highly interactive and customized seminar. Registration spaces are limited to maximize customization and robust discussion. Register today!
(October 18, 2013)Health Solvency Work Group submitted responses to questions from the NAIC's Health Risk-Based Capital Working Group regarding HSWG's model that examines expenses within the context of business risk concentration risk.
(October 18, 2013)The Life Capital Adequacy Subcommittee sent a comment letter on the double counting of the Asset Valuation Reserve and another one on additional collateral for transactions with unauthorized reinsures to the NAIC Life-Risk Based Capital (E) Working Group.
