The Risk Management and Financial Reporting Council’s (RMFRC) Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s Life GAAP Reporting Committee released a white paper, Hedging and Risk Management. The paper examines how insurance companies—life, health, or property and casualty—employ similar techniques to manage insurance risk. It uses life insurance management of mortality risk to illustrate examples and describes capital markets’ risks and how companies have adopted hedging as a risk management tool.

The ERM/ORSA Committee submitted comments to the Actuarial Standards Board regarding the proposed revision of Actuarial Standard of Practice (ASOP) No. 7, Analysis of Life, Health, or Property/Casualty Insurance Cash Flow Risk.

The Liquidity Work Group of the Academy’s Risk Management and Financial Reporting Council released the practice note Liquidity Risk, a revision to a previous practice note published in 2000. The 2024 version broadens the scope by incorporating perspectives from the health and property/casualty practice areas as well as introducing practice-area-specific appendices.

The ERM/ORSA Committee released an issue brief, Dividend Limitations—Affiliated Transactions. The issue brief focuses on two issues: 1) review of the existing dividend limitation—which is the maximum dividend that an owner may collect from the insurance company unilaterally without requiring approval by an insurance regulator—and 2) review of the effects of affiliated transactions as they relate to the dividend limitation. The purpose of this issue brief is to discuss the two issues and describe potential actions that could be taken by regulators, whose objective is capital preservation and policyholder protection, to address the issues.

The ERM/ORSA Committee's comments submitted to the Actuarial Standards Board (ASB) in response to the request of the ASB’s Enterprise Risk Management Committee to provide written comments on the Proposed Actuarial Standard of Practice: Enterprise Risk Management exposure draft.

The ERM/ORSA Committee's comments submitted to the IAIS as part of the association's Public Consultation on the Development of Liquidity Metrics: Phase 2.  

The Climate-Related Financial Disclosures Work Group and the Actuaries Climate Index/Actuaries Climate Risk Index Work Group comments to the New York State Department of Financial Services on financial risks related to climate change.

The Climate-Related Financial Disclosures Work Group and the Actuaries Climate Index/Actuaries Climate Risk Index Work Group comments to the U.S. Securities and Exchange Commission on climate disclosures.

ERM/ORSA Climate-Related Financial Disclosures Work Group comments to the NAIC Climate and Resiliency (EX) Task Force's Climate Risk Disclosure Workstream. 

ERM/ORSA Climate Related Financial Disclosures (CRFD) Work Group update to the NAIC Climate Risk and Resiliency (EX) Task Force on the Climate Risk Disclosures Survey Analysis project.

ERM/ORSA Committee's Climate Related Financial Disclosures (CRFD) Work Group comments to International Association of Insurance Supervisors (IAIS) on its Application Paper on the Supervision of Climate-related Risks in the Insurance Sector. 

ERM/ORSA Climate Related Financial Disclosures Work Group presentation to the National Association of Insurance Commissioners (NAIC) Climate and Resiliency (EX) Task Force.

ERM/ORSA Committee comments on the International Association of Insurance Supervisors' (IAIS) Issues Paper on the Implementation of the Recommendations of the Task Force on Climate-Related Financial Disclosures ("TCFD Recommendations").

The ERM/ORSA Committee comment letter to Actuarial Standards Board on December 2018 exposure draft of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life or Health Liabilities.

Model Risk Management Work Group practice note on model risk management.