The P&C Committee on Equity and Fairness submitted comments to the Colorado Division of Insurance on its life insurance draft regulation on governance and risk management framework requirements and its applicability to private passenger automobile insurance. (December 01, 2023)
Academy Senior Health Policy Analyst Matthew Williams provided an update on the Health Practice Council (HPC) activities of interest to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during its 2023 Fall National Meeting. Topics included: updates on the Health Equity Committee’s workshops and symposium; long-term services and supports; tiered RBC factor development; and the key policy priorities for the HPC in 2024. (November 30, 2023)
Academy Casualty Policy Analyst Rob Fischer presented to the NAIC’s Casualty Actuarial and Statistical (C) Task Force (CASTF) on behalf of Casualty Practice Council and Committee on Property and Liability Financial Reporting (COPLFR) on recent publications and future work products expected for release in December 2023 and early 2024. (December 01, 2023)
The C1 Subcommittee presented to the NAIC's Risk-Based Capital Investment Risk and Evaluation (E) Working Group on Updated Principles for Structured Securities RBC at the NAIC's Fall National Meeting in Orlando, FL. (December 02, 2023)
The Life Practice Council (LPC) presented on current and future LPC workstreams to the NAIC’s Life Actuarial (A) Task Force (LATF) meeting as part of the NAIC Fall National Meeting in Orlando, FL. (November 29, 2023)
Professionalism discussions often focus on Precept 13 and the actuary’s obligation to report apparent, unresolved, material violations of the Code of Professional Conduct to the Actuarial Board for Counseling and Discipline. But little is said about the last precept of the Code, Precept 14, and its role in becoming “a better actuary.” (November 30, 2023)
The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on the October 18 exposure of the Generator of Economic Scenarios (GOES) corporate model decision. (November 29, 2023)
The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on Generator of Economic Scenarios (GOES) gross wealth factors. (November 29, 2023)
The Economic Scenario Generator Subcommittee submitted comments to the Life Actuarial (A) Task Force on the October 5 exposure of the Generator of Economic Scenarios (GOES) stylized facts and acceptance criteria. (November 29, 2023)
On November 16, 2023, Academy Health Equity Committee chairperson Annette James and member Yi-Ling Lin presented to the Southeastern Actuaries Conference (SEAC) on the importance of health equity and cross-collaboration with various stakeholders. The presentation also highlighted the 2023 workshops and symposium focusing on the intersection of benefit design and health equity. (November 16, 2023)
Derek Jones, chairperson of the Workers’ Compensation Committee, presented on the committee's issue brief, Navigating Workers’ Compensation and Medical Marijuana, during the National Council of Insurance Legislator's Annual Meeting in Columbus, OH. (November 16, 2023)
Ron Wilkins, chairperson of the P&C Risk-Based Capital Committee, presented to the NAIC Property and Casualty Risk-Based Capital (E) Working Group and the Catastrophe Risk (E) Subgroup on the Academy’s recently released report to the NAIC on P&C Underwriting Factors and Investment Income Adjustment (IIA) Factors. (November 16, 2023)
The collaborative U.S.-based actuarial organizations’ Intersector Group released notes from its September meetings with the Pension Benefit Guaranty Corporation and the IRS and U.S. Department of the Treasury. (November 16, 2023)
The Health Equity Committee released an issue brief summarizing its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. (November 14, 2023)
The Health Equity Committee released the final two issue briefs in its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. How to Better Understand the Needs of the People We’re Trying to Serve explores how to better understand unmet needs and incorporate input from employees and plan members into the benefit design decision-making process, and Overcoming Constraints to Implementation discusses some of the challenges of implementing equity-enhancing benefit plans—and possible solutions. The lessons learned in discussions that led to the four issue briefs will be the topic of a special Health Symposium: Health Benefit Design Innovations for Advancing Health Equity Nov. 15, from 8:15 a.m. to 3:45 EST. (November 10, 2023)
