Public Policy

This update of the 2017 Asset Adequacy Analysis practice note by the Academy’s Life Valuation Committee provides assistance to actuaries who are faced with the requirement of asset adequacy analysis by providing examples of common approaches 

The Long-Term Care (LTC) Committee submitted comments to the NAIC’s Long-Term Care (B) Task Force (LTCAWG) in response to the NAIC Long-Term Care Insurance (B) Task Force’s November 20, 2024, request for comments on the exposure draft of the Long-Term Care Insurance Multistate Rate Review (LTCI MSA) Framework.

The Annuity Reserve and Capital Subcommittee commented to the NAIC's Valuation Manual (VM)-22 (A) Subgroup on their exposure of a longevity reinsurance reserving proposal. 

The Data Science and Analytics Committee (DSAC) has released an issue paper, Natural Experiments. The paper discusses an approach to establish causation that approximates the construction of a randomized controlled trial but has lower ethical, practical, and financial barriers.

Annuity Reserves & Capital Subcommittee Chairperson Chris Conrad, Academy Director of Research Steve Jackson, and EY gave an update on the aggregation of field test results for public distribution and on model office results examining the impact of the proposed specifications on major product categories, both designed to assist NAIC’s Life Actuarial (A) Task Force make decisions on the shape of VM-22 by next summer.

Casualty Policy Analyst Rob Fischer provided an update on the Casualty Practice Council (CPC) activities of interest to the NAIC’s Casualty Actuarial (C) and Statistical Task Force (CASTF) at their recent meeting in Denver, including an update on recent and upcoming CPC publications, other Academy activity and key 2025 events.

Senior Casualty Fellow Rich Gibson presented to the NAIC Antifraud (D) Task Force at their recent meeting in Denver on the P&C Committee on Equity and Fairness' recently published issue brief, Insurance Fraud: Impacts on Premiums, Claim Costs, and the Public.

Life Policy Analyst Amanda Barry-Moilanen provided an update on Life Practice Council (LPC) activities of interest to the NAIC’s Life Actuarial (A) Task Force (LATF) at their recent meeting in Denver, including recent and upcoming LPC publications, other Academy activity and key 2025 events.

Senior Health Policy Analyst Matthew Williams provided an update on the Health Practice Council (HPC) activities of interest to the NAIC’s Health Actuarial (B) Task Force (HATF) at their recent meeting in Denver, including an update on recent and upcoming HPC publications, other Academy activity and key 2025 events.

Director of Research Steve Jackson provided an update to NAIC's Title Insurance (C) Task Force on the Academy’s research project examining the expenses associated with title insurance prior to the issuance of policies. 

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 Economic Scenario Generator Subcommittee commented to the NAIC Generator of Economic Scenarios (GOES) (E/A) Subgroup on their exposure of SERT scenarios. 

The Health Practice Council’s Individual and Small Group Markets Committee submitted comments to the Centers for Medicare & Medicaid Services regarding the proposed rule for the 2026 Notice of Benefit and Payment Parameters.

The Casualty Practice Council submitted comments to the Actuarial Standards Board (ASB) on the exposure draft of Actuarial Standard of Practice (ASOP) No. 30, Profit Margins and Contingency Provisions in Property/Casualty Risk Transfer and Risk Retention.

Senior Casualty Fellow, Rich Gibson, incoming Casualty Practice Council Vice-President Susan Kent, and New Mexico OSI Chief Actuary, Christian Myers, presented a session at the Casualty Actuarial Society's Annual Meeting in Pheonix, AZ on “P&C Regulatory and Legislative Environment”.