Academy Introduces New Tool to Help Actuaries Demonstrate Qualifications

WASHINGTON — The American Academy of Actuaries is pleased to announce the launch of its U.S. Qualification Standards (USQS) Attestation Form. The form is a new and innovative tool enabling actuaries to voluntarily demonstrate that they meet the USQS requirements for signing statements of actuarial opinion (SAOs) on life, health, and property/casualty National Association of Insurance Commissioners (NAIC) annual statements.
 
“Actuaries who belong to the five major national actuarial organizations in the United States are subject to stringent qualification requirements under the USQS, and the attestation form serves an important need by providing actuaries with a vehicle to clearly communicate their qualifications to any person or entity,” said Academy Immediate Past President Mary D. Miller. “The attestation form is comprehensive, meaning that it allows actuaries subject to the USQS to show generally how their qualifications track vis-à-vis the USQS, and, where applicable, to show the particular qualifications they satisfy for signing NAIC annual life, health and property & casualty SAOs. This new tool is another significant step in the Academy’s dual mission of serving the U.S. profession and the public interest.”
 
Developed at the request of and with input from regulators, the Academy brought together all stakeholders to create an attestation form for actuaries that would meet the needs of the public, regulators, and actuaries. Using the new tool, actuaries can upload relevant documents to produce a personalized link or digital folder that they can easily use to demonstrate that they practice in accordance with the profession’s rigorous qualifications. The tool, which is structured to exactly follow the requirements of the current USQS, supports actuaries in understanding USQS requirements and, at the same time, increases transparency and accountability for regulators and the public by demonstrating that those who sign SAOs are qualified to do so.
 
The attestation form is available to Academy members at attest.actuary.org.
   
About the American Academy of Actuaries
The American Academy of Actuaries is an 18,500+ member professional association whose mission is to serve the public and the U.S. actuarial profession. The Academy assists public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries in the United States.