A new issue brief from the Asset Adequacy and Reinsurance Task Force, Asset-Intensive Reinsurance Ceded Offshore From U.S. Life Insurers (With Focus on Bermuda), offers a summary of motivations, common practices, and relevant actuarial guidance for U.S.-based actuaries involved in reinsurance transactions based offshore, particularly in Bermuda. Read the Academy press release.

The Prudential Regulation Committee released an issue brief, Introduction to Insurance Group Capital Requirements, which focuses on U.S. application, including a discussion of the two primary approaches used to determine group capital.

The Climate Change Joint Committee released an issue brief, ESG and the Actuary, which is intended to present some of the basics of environmental, social, and governance (ESG) considerations as actuaries contemplate how ESG may impact their work.

This issue brief defines discrimination (including distinguishing between discrimination, unfair discrimination, and unjust discrimination); presents practical methods for testing and monitoring algorithms; provides a regulatory overview of the issue; and identifies considerations for actuaries, algorithm creators, and regulators.

This issue brief examines the key types of data bias that actuaries may encounter and focuses on the kinds of biases found in modeling data and the implications for algorithmic outcomes. 

The Data Science and Analytics Committee (DSAC) released an issue brief, Big Data and Algorithms in Actuarial Modeling and Consumer Impacts. It outlines big data issues confronting actuaries and initiates discussion on how big data and artificial intelligence impact the consumer insurance experience, and covers how insurers and regulators can collaborate to resolve potential issues. The issue brief follows an issue paper of the same name released in November 2021.

The Data Science and Analytics Committee, in partnership with the Racial Equity Task Force, released a major issue brief, An Actuarial View of Correlation and Causation - From Interpretation to Practice to Implications. The issue brief provides a discussion of key questions that actuaries may encounter as they work in the risk classification domain; actuarial practices surrounding data, predictive modeling, and risk classification that are also key considerations for public policymaking and regulatory efforts aimed at ensuring that insurance practices are not “unfairly discriminatory.”