“This seminar overall gave me an excellent source of information to better perform the actuarial review of an annual statement. I consider it critical for all candidates with the intention to complete the actuarial opinion of an annual statement.”
– Previous seminar attendee
 
Do you meet the basic and continuing education requirements of Section 3 of the U.S. Qualification Standards to issue actuarial opinions for the NAIC Life or Health Annual Statements?

The Academy’s Life and Health Qualifications Seminar delivers three days of training and instruction, equipping you with the knowledge you need to gain necessary qualifications to issue actuarial opinions for either the NAIC Life and Accident & Health (A&H) Annual Statement or the NAIC Health Annual Statement.
 
The Academy offers this seminar each year to instruct and test actuaries on the basic education subjects required by the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS) to allow them to qualify to sign the NAIC Life and A&H Annual Statement (Blue Blank) and/or NAIC Health Annual Statement (Orange Blank). It also can serve as a basic education refresher or as a source of required continuing education for more experienced actuaries.

Seminar sessions include topics such as:

• Asset adequacy testing
• Actuarial opinions
• Cash flow testing
• Statutory insurance accounting
• Life insurance
• Annuities
• Reinsurance
• Valuation and nonforfeiture requirements
• Overview of health insurance
• Health claim reserves and health insurance valuation topics
• Premium, loss, expense, and contingency reserves
• Principle-based reserving (PBR)
• Risk-based capital
• Actuarial professionalism

Who Should Attend?
Actuaries who may not meet the qualifications for signing the actuarial opinions for the NAIC Life and A&H Annual Statement (Blue Blank) and/or NAIC Health Annual Statement (Orange Blank) under the USQS, including:

• Fellows who completed the exam process between 2000 and 2006
• Actuaries who have not otherwise satisfied the basic education and specific knowledge requirements of the Specific Qualification Standards of the USQS
• Actuaries who intend to change their practice area to sign NAIC life or health actuarial opinions
• Actuaries who are looking for continuing education in compliance with the Specific Qualification Standards of the USQS
• Actuaries who wish to learn about life and health statutory requirements
• Regulators who wish to learn about life and health actuarial topics or simply augment their knowledge
• Foreign actuaries who intend to practice in the United States (who must also meet the general qualification of the USQS)

Please note: Attendees will receive the seminar slides and reading materials for the course sessions only in an electronic format.
 
 

Registration.

This seminar is now sold out. Please contact Doreen Hoyle to be placed on the wait list. 

	Early (Register by Sept. 16)	Regular* (Register by Oct. 25)
Member	$2,000	$2,200
Nonmember	$2,350	$2,550
Government	$950
Reading Materials Only   (for nonattendees)	$600

 

CE Credit.

The American Academy of Actuaries believes in good faith that this event constitutes an Organized Activity as defined in the U.S. Qualification Standards and that, by attending the first three days of the seminar, you may earn the following minimum continuing education credit hours using a 50-minute credit hour formula:

• 6.6 (general, applicable to life or health specialty)
• 8.7 (additional life specialty)
• 9.0 (additional health specialty)
• 2.7 (professionalism)

 
 

Hotel.

The room block is now full. Contact the hotel directly to make your reservation.
The seminar will be held at the Key Bridge Marriott in Arlington, Va., starting at 8 a.m. Monday, Nov. 11 and running to 11:30 a.m. Thursday, Nov. 14. Be sure to mention the Academy’s Life and Health Qualifications Seminar when making your reservation. Reservations must be guaranteed by a major credit card.

 
When making your travel arrangements, note that early registration begins Sunday evening, Nov. 10, from 6 to 8 p.m., and that the opening session will start promptly at 8 a.m. on Monday, Nov. 11. Attendees are strongly encouraged to check in on Sunday.
 
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Specific Knowledge Requirement of the USQS Specific Qualification Standards.

Actuaries wishing to issue a statement of actuarial opinion under the Specific Qualification Standards (Section 3 of the USQS) must, among other requirements, “be knowledgeable, through examination or documented professional development, of the Law (i.e., statutes, regulations, judicial decisions, and other statements of legally binding authority) applicable to the Statement of Actuarial Opinion.” To meet the additional Specific Qualification Standard, which applies to reserve opinions for the NAIC Annual Statement Blanks, an actuary must obtain, through examination or alternative education, specific knowledge in the following topical areas:

• Policy forms and coverages
• Investments and valuations of assets, and the relationship between cash flows from assets and related liabilities
• Dividends and reinsurance
• Statutory insurance accounting
• Valuation of liabilities
• Valuation and nonforfeiture laws

• Principles of insurance and underwriting
• Principles of ratemaking
• Statutory insurance accounting and expense analysis
• Premium, loss, expense, and contingency reserves
• Social insurance

*Actuaries wishing to issue these statements of actuarial opinion must also meet the basic education and experience requirement of the General Qualification Standard (USQS, Section 2.1). For more information, see the USQS, which is available at actuary.org/files/imce/qualification_standards.pdf.

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Faculty.

The seminar will be taught by recognized industry experts, including:

• Rhonda Ahrens, Life & Health Examiner, Nebraska Department of Insurance
• Donna Claire, President, Claire Thinking Inc.
• Darrell Knapp, Executive Director, Ernst & Young LLP
• Craig Morrow, VP And Actuary, The Hartford Life Insurance Companies
• David Neve, Chief Actuary, Global Atlantic Life & Annuity
• Sheldon Summers, Actuary, Claire Thinking Inc.
• William Thompson, Principal and Consulting Actuary, Milliman
• D. Joeff Williams, Consultant, Actuarial Management Resources

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